OraSure Technologies (NASDAQ:OSUR) Rating Increased to Buy at StockNews.com

OraSure Technologies (NASDAQ:OSUR) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

Separately, Evercore ISI upped their price target on OraSure Technologies from $4.50 to $5.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $6.67.

OraSure Technologies Stock Up 1.5 %

NASDAQ:OSUR traded up $0.06 during midday trading on Friday, hitting $4.14. The stock had a trading volume of 475,036 shares, compared to its average volume of 943,958. OraSure Technologies has a one year low of $3.91 and a one year high of $8.45. The stock has a 50-day moving average of $4.30 and a 200 day moving average of $4.76. The company has a market capitalization of $306.19 million, a price-to-earnings ratio of 13.80 and a beta of 0.05.

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

Institutional Investors Weigh In On OraSure Technologies

Large investors have recently bought and sold shares of the company. Sei Investments Co. increased its holdings in shares of OraSure Technologies by 314.0% during the 1st quarter. Sei Investments Co. now owns 170,748 shares of the medical instruments supplier’s stock valued at $1,050,000 after purchasing an additional 129,509 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of OraSure Technologies by 1,017.1% in the 1st quarter. Russell Investments Group Ltd. now owns 178,372 shares of the medical instruments supplier’s stock valued at $1,097,000 after purchasing an additional 162,404 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in OraSure Technologies by 135.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 492,477 shares of the medical instruments supplier’s stock worth $3,029,000 after purchasing an additional 283,001 shares during the period. Acadian Asset Management LLC lifted its position in shares of OraSure Technologies by 46.4% during the 1st quarter. Acadian Asset Management LLC now owns 1,590,258 shares of the medical instruments supplier’s stock valued at $9,776,000 after buying an additional 503,804 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C lifted its holdings in OraSure Technologies by 428.6% during the second quarter. Deerfield Management Company L.P. Series C now owns 152,003 shares of the medical instruments supplier’s stock valued at $648,000 after purchasing an additional 123,248 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

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.