Bank of New York Mellon Corp Sells 25,589 Shares of OraSure Technologies, Inc. (NASDAQ:OSUR)

Bank of New York Mellon Corp lessened its stake in shares of OraSure Technologies, Inc. (NASDAQ:OSUR) by 7.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 306,375 shares of the medical instruments supplier’s stock after selling 25,589 shares during the period. Bank of New York Mellon Corp’s holdings in OraSure Technologies were worth $1,106,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of OSUR. Atom Investors LP acquired a new position in OraSure Technologies during the third quarter worth $49,000. Intech Investment Management LLC acquired a new stake in shares of OraSure Technologies during the 3rd quarter worth about $84,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in OraSure Technologies by 78.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 28,731 shares of the medical instruments supplier’s stock valued at $123,000 after purchasing an additional 12,604 shares during the last quarter. SG Americas Securities LLC acquired a new position in OraSure Technologies in the fourth quarter valued at about $205,000. Finally, Marquette Asset Management LLC grew its stake in OraSure Technologies by 44.4% during the fourth quarter. Marquette Asset Management LLC now owns 69,345 shares of the medical instruments supplier’s stock worth $250,000 after buying an additional 21,327 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

OraSure Technologies Stock Performance

Shares of NASDAQ:OSUR opened at $3.66 on Tuesday. The business has a fifty day moving average of $3.71 and a 200-day moving average of $3.90. OraSure Technologies, Inc. has a twelve month low of $2.69 and a twelve month high of $6.38. The firm has a market cap of $273.77 million, a PE ratio of 24.40 and a beta of -0.02.

OraSure Technologies announced that its Board of Directors has approved a stock repurchase program on Monday, March 24th that allows the company to buyback $40.00 million in shares. This buyback authorization allows the medical instruments supplier to buy up to 15.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of OraSure Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th.

Insiders Place Their Bets

In other news, Director John P. Kenny bought 47,659 shares of the stock in a transaction dated Thursday, February 27th. The stock was bought at an average cost of $3.17 per share, with a total value of $151,079.03. Following the purchase, the director now owns 70,915 shares of the company’s stock, valued at approximately $224,800.55. This represents a 204.93 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kenneth J. Mcgrath purchased 64,000 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were purchased at an average cost of $3.15 per share, for a total transaction of $201,600.00. Following the purchase, the chief financial officer now directly owns 371,013 shares of the company’s stock, valued at $1,168,690.95. This trade represents a 20.85 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 190,284 shares of company stock valued at $600,348 in the last 90 days. 3.40% of the stock is currently owned by insiders.

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.