Charles Schwab Investment Management Inc. Has $2.09 Million Stock Holdings in OraSure Technologies, Inc. (NASDAQ:OSUR)

Charles Schwab Investment Management Inc. decreased its holdings in shares of OraSure Technologies, Inc. (NASDAQ:OSUR) by 16.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 578,768 shares of the medical instruments supplier’s stock after selling 115,866 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.78% of OraSure Technologies worth $2,089,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the business. Atom Investors LP acquired a new stake in shares of OraSure Technologies during the 3rd quarter valued at $49,000. US Bancorp DE boosted its holdings in OraSure Technologies by 310.4% in the fourth quarter. US Bancorp DE now owns 19,433 shares of the medical instruments supplier’s stock worth $70,000 after purchasing an additional 14,698 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of OraSure Technologies during the 3rd quarter valued at about $84,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of 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 acquiring an additional 12,604 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of OraSure Technologies in the fourth quarter valued at approximately $205,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Insiders Place Their Bets

In other OraSure Technologies news, Director John P. Kenny purchased 47,659 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was purchased at an average price of $3.17 per share, for a total transaction of $151,079.03. Following the completion of the purchase, the director now directly owns 70,915 shares in the company, valued at approximately $224,800.55. This trade represents a 204.93 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kenneth J. Mcgrath acquired 64,000 shares of the stock in a transaction dated Thursday, February 27th. The stock was bought at an average price of $3.15 per share, for a total transaction of $201,600.00. Following the completion of the purchase, the chief financial officer now owns 371,013 shares in the company, valued at approximately $1,168,690.95. This trade represents a 20.85 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders bought 190,284 shares of company stock worth $600,348. 3.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

OraSure Technologies Stock Performance

Shares of OSUR opened at $3.43 on Friday. The company has a 50-day simple moving average of $3.69 and a 200-day simple moving average of $3.88. OraSure Technologies, Inc. has a 52 week low of $2.69 and a 52 week high of $6.35. The firm has a market capitalization of $256.56 million, a P/E ratio of 22.87 and a beta of -0.02.

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

OraSure Technologies 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.