Bank of New York Mellon Corp raised its holdings in OraSure Technologies, Inc. (NASDAQ:OSUR) by 2.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 759,600 shares of the medical instruments supplier’s stock after buying an additional 16,089 shares during the period. Bank of New York Mellon Corp owned 1.24% of OraSure Technologies worth $12,510,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Principal Financial Group Inc. increased its stake in OraSure Technologies by 3.3% in the 1st quarter. Principal Financial Group Inc. now owns 491,188 shares of the medical instruments supplier’s stock valued at $8,296,000 after buying an additional 15,717 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its stake in OraSure Technologies by 196.4% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 49,063 shares of the medical instruments supplier’s stock valued at $808,000 after buying an additional 32,511 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in OraSure Technologies in the 1st quarter valued at $139,000. Emerald Advisers Inc. PA increased its stake in OraSure Technologies by 49.1% in the 2nd quarter. Emerald Advisers Inc. PA now owns 1,007,294 shares of the medical instruments supplier’s stock valued at $16,590,000 after buying an additional 331,922 shares during the last quarter. Finally, McCollum Christoferson Group LLC increased its stake in OraSure Technologies by 4.7% in the 2nd quarter. McCollum Christoferson Group LLC now owns 115,089 shares of the medical instruments supplier’s stock valued at $1,896,000 after buying an additional 5,135 shares during the last quarter. Hedge funds and other institutional investors own 91.76% of the company’s stock.
Several equities research analysts have issued reports on OSUR shares. ValuEngine lowered shares of OraSure Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, June 27th. Stephens lowered shares of OraSure Technologies from an “overweight” rating to an “equal weight” rating in a research note on Monday, July 16th. Zacks Investment Research lowered shares of OraSure Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, August 7th. TheStreet upgraded shares of OraSure Technologies from a “c+” rating to a “b” rating in a research note on Thursday, August 9th. Finally, BidaskClub lowered shares of OraSure Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, August 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. OraSure Technologies has an average rating of “Hold” and an average target price of $21.33.
OraSure Technologies stock opened at $15.33 on Friday. The stock has a market cap of $945.74 million, a PE ratio of 30.06, a PEG ratio of 3.44 and a beta of 1.61. OraSure Technologies, Inc. has a fifty-two week low of $12.86 and a fifty-two week high of $23.01.
OraSure Technologies (NASDAQ:OSUR) last released its quarterly earnings data on Wednesday, August 8th. The medical instruments supplier reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.03. The company had revenue of $43.60 million for the quarter, compared to analyst estimates of $42.24 million. OraSure Technologies had a net margin of 8.38% and a return on equity of 5.85%. OraSure Technologies’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.09 EPS. research analysts predict that OraSure Technologies, Inc. will post 0.36 earnings per share for the current fiscal year.
In other news, Director Charles W. Patrick sold 8,000 shares of the business’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $16.29, for a total transaction of $130,320.00. Following the transaction, the director now directly owns 54,298 shares in the company, valued at approximately $884,514.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.90% of the stock is owned by insiders.
About OraSure Technologies
OraSure Technologies, Inc, together with its subsidiaries, develops, manufactures, markets, and sells oral fluid diagnostic products and specimen collection devices in the United States, Europe, and internationally. It operates in two segments, OSUR and DNAG. The company also offers other diagnostic products, such as immunoassays and other in vitro diagnostic tests.
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