OraSure Technologies (NASDAQ:OSUR) Stock Price Up 13.5% on Strong Earnings

OraSure Technologies, Inc. (NASDAQ:OSURGet Free Report)’s stock price shot up 13.5% during mid-day trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $8.04 and last traded at $7.98. 191,281 shares changed hands during trading, a decline of 73% from the average session volume of 718,193 shares. The stock had previously closed at $7.03.

The medical instruments supplier reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.09. The company had revenue of $75.88 million for the quarter, compared to analyst estimates of $74.13 million. OraSure Technologies had a net margin of 10.86% and a return on equity of 14.88%. The firm’s revenue was down 38.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.21 EPS.

Analyst Ratings Changes

Several brokerages recently issued reports on OSUR. Citigroup lifted their price target on shares of OraSure Technologies from $7.00 to $9.00 and gave the company a “buy” rating in a report on Monday, December 11th. JPMorgan Chase & Co. cut their target price on shares of OraSure Technologies from $6.00 to $5.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 8th. TheStreet upgraded shares of OraSure Technologies from a “d+” rating to a “c” rating in a research report on Wednesday, November 8th. Finally, StockNews.com downgraded shares of OraSure Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, November 8th.

View Our Latest Stock Analysis on OraSure Technologies

Insider Buying and Selling

In other news, insider Kathleen Gallagher Weber sold 24,129 shares of the business’s stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $8.05, for a total value of $194,238.45. Following the transaction, the insider now owns 254,700 shares in the company, valued at approximately $2,050,335. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of OSUR. Advisor Group Holdings Inc. lifted its position in shares of OraSure Technologies by 12.0% in the 1st quarter. Advisor Group Holdings Inc. now owns 20,720 shares of the medical instruments supplier’s stock worth $163,000 after purchasing an additional 2,225 shares during the period. Swiss National Bank lifted its position in shares of OraSure Technologies by 7.7% during the 1st quarter. Swiss National Bank now owns 170,300 shares of the medical instruments supplier’s stock valued at $1,155,000 after acquiring an additional 12,200 shares during the period. JPMorgan Chase & Co. lifted its position in shares of OraSure Technologies by 22.8% during the 1st quarter. JPMorgan Chase & Co. now owns 67,370 shares of the medical instruments supplier’s stock valued at $457,000 after acquiring an additional 12,505 shares during the period. Citigroup Inc. lifted its position in shares of OraSure Technologies by 9.4% during the 1st quarter. Citigroup Inc. now owns 82,512 shares of the medical instruments supplier’s stock valued at $559,000 after acquiring an additional 7,103 shares during the period. Finally, MetLife Investment Management LLC lifted its position in shares of OraSure Technologies by 51.2% during the 1st quarter. MetLife Investment Management LLC now owns 43,288 shares of the medical instruments supplier’s stock valued at $293,000 after acquiring an additional 14,653 shares during the period. Institutional investors and hedge funds own 88.76% of the company’s stock.

OraSure Technologies Trading Up 10.0 %

The stock’s 50-day moving average is $7.65 and its 200-day moving average is $6.78. The company has a market cap of $568.00 million, a price-to-earnings ratio of 11.71 and a beta of 0.16.

About OraSure Technologies

(Get Free Report)

OraSure Technologies, Inc, together with its subsidiaries, provides point-of-care and home diagnostic tests, specimen collection devices, and microbiome laboratory and analytical services in the United States, Europe, and internationally. It operates in two segments, Diagnostics and Molecular Solutions.

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