Principal Financial Group Inc. Raises Holdings in OraSure Technologies, Inc. (NASDAQ:OSUR)

Principal Financial Group Inc. raised its holdings in shares of OraSure Technologies, Inc. (NASDAQ:OSUR) by 10.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 73,137 shares of the medical instruments supplier’s stock after purchasing an additional 7,077 shares during the period. Principal Financial Group Inc. owned approximately 0.10% of OraSure Technologies worth $264,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Atom Investors LP purchased a new stake in OraSure Technologies during the 3rd quarter valued at $49,000. Creative Planning purchased a new position in shares of OraSure Technologies in the 3rd quarter worth $54,000. Intech Investment Management LLC purchased a new position in shares of OraSure Technologies in the 3rd quarter worth $84,000. Connor Clark & Lunn Investment Management Ltd. boosted 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 worth $123,000 after buying an additional 12,604 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of OraSure Technologies in the 4th quarter worth $205,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded OraSure Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday.

OraSure Technologies Price Performance

OSUR stock opened at $3.49 on Friday. The company has a market cap of $260.33 million, a P/E ratio of 23.27 and a beta of -0.02. OraSure Technologies, Inc. has a 1 year low of $2.68 and a 1 year high of $7.43. The stock’s fifty day moving average price is $3.75 and its 200-day moving average price is $3.98.

Insider Activity at OraSure Technologies

In related news, CEO Manner Carrie Eglinton bought 78,625 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average cost of $3.15 per share, for a total transaction of $247,668.75. Following the completion of the transaction, the chief executive officer now owns 1,259,664 shares of the company’s stock, valued at approximately $3,967,941.60. This trade represents a 6.66 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John P. Kenny bought 47,659 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average price of $3.17 per share, for a total transaction of $151,079.03. Following the completion of the transaction, the director now directly owns 70,915 shares of the company’s stock, valued at $224,800.55. This represents a 204.93 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 190,284 shares of company stock worth $600,348. Corporate insiders own 3.40% of the company’s stock.

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.