StockNews.com Downgrades OraSure Technologies (NASDAQ:OSUR) to Hold

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

OraSure Technologies Trading Down 0.3 %

NASDAQ OSUR opened at $3.90 on Tuesday. The stock has a market cap of $290.90 million, a PE ratio of 26.00 and a beta of 0.05. The company’s 50-day moving average price is $3.80 and its 200-day moving average price is $4.08. OraSure Technologies has a 12 month low of $3.52 and a 12 month high of $8.04.

OraSure Technologies (NASDAQ:OSUR) last announced 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 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 last year, the firm posted $0.27 earnings per share. The business’s revenue for the quarter was down 55.2% on a year-over-year basis. As a group, sell-side analysts forecast that OraSure Technologies will post -0.08 earnings per share for the current year.

Hedge Funds Weigh In On OraSure Technologies

A number of large investors have recently added to or reduced their stakes in OSUR. Atom Investors LP acquired a new position in OraSure Technologies during the 3rd quarter valued at approximately $49,000. Creative Planning acquired a new position in OraSure Technologies in the 3rd quarter worth about $54,000. Mackenzie Financial Corp acquired a new position in shares of OraSure Technologies during the 2nd quarter worth approximately $72,000. Intech Investment Management LLC purchased a new position in OraSure Technologies during the third quarter valued at $84,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in OraSure Technologies by 78.2% in 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 buying an additional 12,604 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

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.