Principal Financial Group Inc. Sells 368,393 Shares of OraSure Technologies, Inc. (NASDAQ:OSUR)

Principal Financial Group Inc. decreased its stake in OraSure Technologies, Inc. (NASDAQ:OSUR) by 87.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,580 shares of the medical instruments supplier’s stock after selling 368,393 shares during the period. Principal Financial Group Inc. owned about 0.07% of OraSure Technologies worth $220,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in OSUR. SG Americas Securities LLC bought a new position in shares of OraSure Technologies in the 1st quarter worth $72,000. Tocqueville Asset Management L.P. increased its holdings in shares of OraSure Technologies by 20.0% in the 1st quarter. Tocqueville Asset Management L.P. now owns 15,089 shares of the medical instruments supplier’s stock worth $93,000 after buying an additional 2,512 shares during the last quarter. Shikiar Asset Management Inc. bought a new position in shares of OraSure Technologies in the 2nd quarter worth $96,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of OraSure Technologies in the 4th quarter valued at $113,000. Finally, Tidal Investments LLC purchased a new stake in shares of OraSure Technologies in the 1st quarter valued at $116,000. Institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on OSUR shares. StockNews.com cut shares of OraSure Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, August 17th. Evercore ISI upped their price objective on shares of OraSure Technologies from $4.50 to $5.00 and gave the company an “in-line” rating in a research note on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $6.67.

OraSure Technologies Stock Up 4.5 %

Shares of OSUR opened at $4.45 on Monday. The stock has a market capitalization of $329.12 million, a P/E ratio of 14.83 and a beta of 0.05. The firm has a fifty day simple moving average of $4.31 and a two-hundred day simple moving average of $5.02. OraSure Technologies, Inc. has a twelve month low of $3.91 and a twelve month high of $8.45.

OraSure Technologies (NASDAQ:OSUR) last announced its quarterly earnings results on Tuesday, August 6th. The medical instruments supplier reported $0.03 earnings per share for the quarter. The business had revenue of $54.34 million during the quarter, compared to analysts’ expectations of $53.35 million. OraSure Technologies had a net margin of 9.88% and a return on equity of 9.15%. Sell-side analysts expect that OraSure Technologies, Inc. will post -0.11 EPS for the current fiscal year.

OraSure Technologies Company Profile

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. The company's products include InteliSwab COVID-19 rapid test, InteliSwab COVID-19 rapid test pro, InteliSwab COVID-19 rapid test rx, OraQuick Rapid HIV test, OraQuick In-Home HIV test, OraQuick HIV self-test, OraQuick HCV rapid antibody test, OraQuick Ebola rapid antigen test, OraSure oral fluid collection device used in conjunction with screening and confirmatory tests for HIV-1 antibodies; Intercept drug testing systems; immunoassay tests and reagents; and Q.E.D.