OraSure Technologies (NASDAQ:OSUR) Rating Lowered to Hold at StockNews.com

OraSure Technologies (NASDAQ:OSUR) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

OraSure Technologies Stock Performance

Shares of NASDAQ OSUR opened at $3.62 on Thursday. OraSure Technologies has a fifty-two week low of $3.52 and a fifty-two week high of $8.33. The company has a market cap of $270.03 million, a PE ratio of 24.13 and a beta of 0.05. The business has a 50-day simple moving average of $3.86 and a two-hundred day simple moving average of $4.11.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Atom Investors LP purchased a new stake in OraSure Technologies in the third quarter valued at approximately $49,000. Creative Planning acquired a new stake in shares of OraSure Technologies in the third quarter worth $54,000. Mackenzie Financial Corp purchased a new position in shares of OraSure Technologies during the second quarter worth $72,000. Intech Investment Management LLC acquired a new position in OraSure Technologies during the third quarter valued at $84,000. Finally, SkyView Investment Advisors LLC boosted its holdings in OraSure Technologies by 100.0% in the second quarter. SkyView Investment Advisors LLC now owns 24,000 shares of the medical instruments supplier’s stock valued at $102,000 after purchasing an additional 12,000 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

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.