Franklin Resources Inc. Increases Holdings in OraSure Technologies, Inc. (NASDAQ:OSUR)

Franklin Resources Inc. raised its stake in OraSure Technologies, Inc. (NASDAQ:OSUR) by 28.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 269,269 shares of the medical instruments supplier’s stock after acquiring an additional 59,723 shares during the quarter. Franklin Resources Inc.’s holdings in OraSure Technologies were worth $1,091,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of OSUR. Millennium Management LLC raised its holdings in shares of OraSure Technologies by 727.5% during the 2nd quarter. Millennium Management LLC now owns 2,021,126 shares of the medical instruments supplier’s stock valued at $8,610,000 after buying an additional 1,776,867 shares during the period. Acadian Asset Management LLC boosted its holdings in OraSure Technologies by 38.1% in the 2nd quarter. Acadian Asset Management LLC now owns 2,195,582 shares of the medical instruments supplier’s stock worth $9,349,000 after acquiring an additional 605,324 shares during the period. American Century Companies Inc. grew its position in OraSure Technologies by 30.1% in the second quarter. American Century Companies Inc. now owns 1,809,897 shares of the medical instruments supplier’s stock valued at $7,710,000 after acquiring an additional 418,603 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of OraSure Technologies by 20.6% during the second quarter. Renaissance Technologies LLC now owns 2,288,443 shares of the medical instruments supplier’s stock valued at $9,749,000 after purchasing an additional 391,100 shares during the period. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of OraSure Technologies during the second quarter worth $1,602,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

OraSure Technologies Stock Performance

Shares of OSUR opened at $3.62 on Friday. OraSure Technologies, Inc. has a one year low of $3.57 and a one year high of $8.45. The stock has a 50-day moving average price of $3.96 and a 200 day moving average price of $4.16. The company has a market capitalization of $270.03 million, a P/E ratio of 24.13 and a beta of 0.03.

OraSure Technologies (NASDAQ:OSUR) last issued its quarterly earnings results on Wednesday, November 6th. The medical instruments supplier reported ($0.06) earnings per share (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 during the quarter, compared to analyst estimates of $38.97 million. During the same quarter in the previous year, the firm earned $0.27 earnings per share. The business’s revenue was down 55.2% compared to the same quarter last year. As a group, equities research analysts forecast that OraSure Technologies, Inc. will post -0.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of OraSure Technologies from a “buy” rating to a “hold” rating in a research note on Monday, December 9th.

About OraSure Technologies

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.