OraSure Technologies (NASDAQ:OSUR) Stock Rating Lowered by StockNews.com

OraSure Technologies (NASDAQ:OSUR) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Monday.

OraSure Technologies Trading Down 3.8 %

OSUR stock opened at $3.81 on Monday. OraSure Technologies has a 1-year low of $3.72 and a 1-year high of $8.45. The firm has a market cap of $284.20 million, a PE ratio of 25.40 and a beta of 0.03. The business’s 50-day moving average price is $4.03 and its two-hundred day moving average price is $4.24.

OraSure Technologies (NASDAQ:OSUR) last issued its quarterly earnings data on Wednesday, November 6th. The medical instruments supplier reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. OraSure Technologies had a net margin of 5.07% and a return on equity of 3.55%. The business had revenue of $39.92 million for the quarter, compared to analyst estimates of $38.97 million. During the same period last year, the business posted $0.27 earnings per share. The firm’s quarterly revenue was down 55.2% on a year-over-year basis. On average, analysts forecast that OraSure Technologies will post -0.07 earnings per share for the current year.

Hedge Funds Weigh In On OraSure Technologies

Several institutional investors and hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC increased its stake in shares of OraSure Technologies by 38.1% during the second quarter. Acadian Asset Management LLC now owns 2,195,582 shares of the medical instruments supplier’s stock worth $9,349,000 after purchasing an additional 605,324 shares during the period. BNP Paribas Financial Markets grew its holdings in OraSure Technologies by 27.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 855,951 shares of the medical instruments supplier’s stock valued at $3,655,000 after buying an additional 183,191 shares in the last quarter. Deerfield Management Company L.P. Series C increased its position in OraSure Technologies by 428.6% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 152,003 shares of the medical instruments supplier’s stock worth $648,000 after buying an additional 123,248 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of OraSure Technologies by 74.1% during the second quarter. Assenagon Asset Management S.A. now owns 163,542 shares of the medical instruments supplier’s stock worth $697,000 after buying an additional 69,625 shares in the last quarter. Finally, Millennium Management LLC boosted its position in shares of OraSure Technologies by 727.5% in the second quarter. Millennium Management LLC now owns 2,021,126 shares of the medical instruments supplier’s stock valued at $8,610,000 after acquiring an additional 1,776,867 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

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.