Corient Private Wealth LLC Trims Holdings in OraSure Technologies, Inc. (NASDAQ:OSUR)

Corient Private Wealth LLC trimmed its holdings in shares of OraSure Technologies, Inc. (NASDAQ:OSUR) by 35.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,412 shares of the medical instruments supplier’s stock after selling 14,252 shares during the quarter. Corient Private Wealth LLC’s holdings in OraSure Technologies were worth $92,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new stake in OraSure Technologies during the 4th quarter valued at about $37,000. Aigen Investment Management LP purchased a new position in shares of OraSure Technologies during the fourth quarter worth approximately $76,000. US Bancorp DE raised its stake in shares of OraSure Technologies by 310.4% during the fourth quarter. US Bancorp DE now owns 19,433 shares of the medical instruments supplier’s stock valued at $70,000 after acquiring an additional 14,698 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of OraSure Technologies by 10.7% in the fourth quarter. Principal Financial Group Inc. now owns 73,137 shares of the medical instruments supplier’s stock valued at $264,000 after purchasing an additional 7,077 shares during the period. Finally, Peapod Lane Capital LLC bought a new position in OraSure Technologies in the fourth quarter worth approximately $1,730,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Transactions at OraSure Technologies

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

OraSure Technologies Price Performance

Shares of OraSure Technologies stock opened at $3.37 on Thursday. The stock has a market cap of $252.08 million, a price-to-earnings ratio of 22.47 and a beta of -0.02. The firm’s 50-day moving average is $3.66 and its two-hundred day moving average is $3.86. OraSure Technologies, Inc. has a 1 year low of $2.69 and a 1 year high of $6.35.

OraSure Technologies announced that its board has approved a share repurchase plan on Monday, March 24th that allows the company to repurchase $40.00 million in shares. This repurchase authorization allows the medical instruments supplier to purchase up to 15.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board 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.