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

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

OraSure Technologies Stock Down 1.9 %

Shares of OSUR opened at $3.54 on Wednesday. The company has a 50-day simple moving average of $3.92 and a 200-day simple moving average of $4.14. The company has a market capitalization of $264.06 million, a PE ratio of 23.60 and a beta of 0.03. OraSure Technologies has a 52-week low of $3.52 and a 52-week high of $8.45.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC increased its stake in shares of OraSure Technologies by 20.6% during the 2nd quarter. Renaissance Technologies LLC now owns 2,288,443 shares of the medical instruments supplier’s stock valued at $9,749,000 after acquiring an additional 391,100 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of OraSure Technologies by 38.1% during the 2nd quarter. Acadian Asset Management LLC now owns 2,195,582 shares of the medical instruments supplier’s stock valued at $9,349,000 after acquiring an additional 605,324 shares during the last quarter. Millennium Management LLC increased its stake 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 acquiring an additional 1,776,867 shares during the last quarter. American Century Companies Inc. increased its stake in shares of OraSure Technologies by 30.1% during the 2nd 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 during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of OraSure Technologies by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,797,814 shares of the medical instruments supplier’s stock valued at $7,678,000 after acquiring an additional 32,929 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

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.