OraSure Technologies (NASDAQ:OSUR) Lowered to “Hold” Rating by StockNews.com

StockNews.com cut shares of OraSure Technologies (NASDAQ:OSUR) from a buy rating to a hold rating in a research note published on Monday morning.

OraSure Technologies Stock Up 1.3 %

OSUR stock opened at $3.96 on Monday. The business has a 50 day moving average price of $4.04 and a 200 day moving average price of $4.25. The stock has a market cap of $295.39 million, a price-to-earnings ratio of 26.40 and a beta of 0.03. OraSure Technologies has a fifty-two week low of $3.72 and a fifty-two week high of $8.45.

OraSure Technologies (NASDAQ:OSUR) last issued its quarterly earnings data 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 business had revenue of $39.92 million during 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%. The company’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. As a group, sell-side analysts anticipate that OraSure Technologies will post -0.07 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC boosted its holdings in shares of OraSure Technologies by 38.1% in the second 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 period. BNP Paribas Financial Markets boosted its stake in OraSure Technologies by 27.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 855,951 shares of the medical instruments supplier’s stock worth $3,655,000 after purchasing an additional 183,191 shares during the period. Deerfield Management Company L.P. Series C grew 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 purchasing an additional 123,248 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in OraSure Technologies by 74.1% in the second quarter. Assenagon Asset Management S.A. now owns 163,542 shares of the medical instruments supplier’s stock valued at $697,000 after purchasing an additional 69,625 shares during the period. Finally, Millennium Management LLC raised its holdings 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 buying an additional 1,776,867 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

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.