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

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

OraSure Technologies Trading Down 1.9 %

Shares of OraSure Technologies stock opened at $3.71 on Thursday. OraSure Technologies has a 12 month low of $3.52 and a 12 month high of $8.33. The stock’s fifty day moving average price is $3.89 and its 200-day moving average price is $4.12. The firm has a market cap of $276.74 million, a P/E ratio of 24.73 and a beta of 0.05.

OraSure Technologies (NASDAQ:OSUR) last posted its quarterly earnings results on Wednesday, November 6th. The medical instruments supplier reported ($0.06) EPS for the quarter, beating the consensus estimate 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 business posted $0.27 EPS. The company’s quarterly revenue was down 55.2% compared to the same quarter last year. Analysts forecast that OraSure Technologies will post -0.08 earnings per share for the current year.

Hedge Funds Weigh In On OraSure Technologies

Several hedge funds have recently made changes to their positions in OSUR. BNP Paribas Financial Markets lifted its stake in shares of OraSure Technologies by 27.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 855,951 shares of the medical instruments supplier’s stock valued at $3,655,000 after purchasing an additional 183,191 shares during the period. Franklin Resources Inc. increased its stake in OraSure Technologies by 28.5% during the 3rd quarter. Franklin Resources Inc. now owns 269,269 shares of the medical instruments supplier’s stock worth $1,091,000 after buying an additional 59,723 shares in the last quarter. Deerfield Management Company L.P. Series C raised its holdings in shares of OraSure Technologies by 428.6% during the second quarter. Deerfield Management Company L.P. Series C now owns 152,003 shares of the medical instruments supplier’s stock valued at $648,000 after acquiring an additional 123,248 shares during the last quarter. Barclays PLC lifted its position in shares of OraSure Technologies by 182.6% in the third quarter. Barclays PLC now owns 195,793 shares of the medical instruments supplier’s stock valued at $836,000 after acquiring an additional 126,503 shares in the last quarter. Finally, Millennium Management LLC boosted its stake 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 worth $8,610,000 after acquiring an additional 1,776,867 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.