Primecap Management Co. CA Lowers Stock Holdings in OraSure Technologies, Inc. (NASDAQ:OSUR)

Primecap Management Co. CA cut its stake in shares of OraSure Technologies, Inc. (NASDAQ:OSUR) by 2.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 719,550 shares of the medical instruments supplier’s stock after selling 18,970 shares during the period. Primecap Management Co. CA owned approximately 0.97% of OraSure Technologies worth $3,065,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new stake in shares of OraSure Technologies during the first quarter worth approximately $72,000. Tocqueville Asset Management L.P. raised its position in OraSure Technologies by 20.0% during 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. acquired a new stake 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 fourth quarter valued at about $113,000. Finally, Tidal Investments LLC purchased a new stake in shares of OraSure Technologies in the first quarter valued at about $116,000. 93.50% of the stock is owned by institutional investors and hedge funds.

OraSure Technologies Price Performance

Shares of NASDAQ:OSUR opened at $4.31 on Thursday. OraSure Technologies, Inc. has a 12 month low of $3.91 and a 12 month high of $8.45. The firm has a market capitalization of $318.76 million, a price-to-earnings ratio of 14.37 and a beta of 0.05. The business’s 50 day simple moving average is $4.33 and its 200-day simple moving average is $4.98.

OraSure Technologies (NASDAQ:OSUR) last posted its earnings results on Tuesday, August 6th. The medical instruments supplier reported $0.03 EPS for the quarter. OraSure Technologies had a return on equity of 9.15% and a net margin of 9.88%. The company had revenue of $54.34 million for the quarter, compared to the consensus estimate of $53.35 million. On average, equities analysts anticipate that OraSure Technologies, Inc. will post -0.11 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on OSUR shares. StockNews.com downgraded shares of OraSure Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, August 17th. Evercore ISI lifted their price target on 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 equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $6.67.

OraSure Technologies 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.