OraSure Technologies, Inc. (NASDAQ:OSUR) Expected to Announce Quarterly Sales of $58.07 Million


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Wall Street brokerages expect OraSure Technologies, Inc. (NASDAQ:OSUR) to post $58.07 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for OraSure Technologies’ earnings, with the highest sales estimate coming in at $59.00 million and the lowest estimate coming in at $57.30 million. OraSure Technologies reported sales of $31.60 million in the same quarter last year, which indicates a positive year-over-year growth rate of 83.8%. The firm is expected to issue its next quarterly earnings report on Wednesday, May 5th.

On average, analysts expect that OraSure Technologies will report full-year sales of $350.95 million for the current fiscal year, with estimates ranging from $225.00 million to $497.34 million. For the next fiscal year, analysts anticipate that the firm will post sales of $414.92 million, with estimates ranging from $240.00 million to $615.22 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow OraSure Technologies.

OraSure Technologies (NASDAQ:OSUR) last announced its earnings results on Monday, March 1st. The medical instruments supplier reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.04). The firm had revenue of $62.90 million during the quarter, compared to analysts’ expectations of $57.30 million. OraSure Technologies had a negative net margin of 9.05% and a negative return on equity of 3.51%. OraSure Technologies’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.04 earnings per share.

Several research analysts have recently weighed in on the stock. Citigroup decreased their target price on shares of OraSure Technologies from $18.00 to $16.00 in a research note on Tuesday, March 2nd. Zacks Investment Research cut shares of OraSure Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, February 3rd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $16.71.

Shares of OSUR stock traded down $0.13 on Monday, hitting $10.32. The stock had a trading volume of 4,059 shares, compared to its average volume of 1,126,327. The firm has a market capitalization of $742.48 million, a price-to-earnings ratio of -45.43 and a beta of 0.04. The stock’s 50 day moving average is $11.11 and its 200-day moving average is $12.57. OraSure Technologies has a 52-week low of $9.46 and a 52-week high of $19.75.

A number of institutional investors and hedge funds have recently bought and sold shares of OSUR. The Manufacturers Life Insurance Company raised its holdings in shares of OraSure Technologies by 7.8% during the third quarter. The Manufacturers Life Insurance Company now owns 40,308 shares of the medical instruments supplier’s stock worth $491,000 after purchasing an additional 2,902 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of OraSure Technologies by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 466,874 shares of the medical instruments supplier’s stock worth $5,682,000 after purchasing an additional 10,284 shares during the period. Swiss National Bank raised its holdings in shares of OraSure Technologies by 1.9% during the third quarter. Swiss National Bank now owns 158,800 shares of the medical instruments supplier’s stock worth $1,933,000 after purchasing an additional 3,000 shares during the period. Verition Fund Management LLC acquired a new stake in shares of OraSure Technologies during the fourth quarter worth $533,000. Finally, State Street Corp raised its holdings in shares of OraSure Technologies by 2.1% during the third quarter. State Street Corp now owns 3,087,453 shares of the medical instruments supplier’s stock worth $37,574,000 after purchasing an additional 63,005 shares during the period. 98.13% of the stock is currently owned by hedge funds and other institutional investors.

OraSure Technologies Company Profile

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. The company 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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