OraSure Technologies (NASDAQ:OSUR) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of OraSure Technologies (NASDAQ:OSUR) from a buy rating to a hold rating in a report issued on Tuesday.

Separately, Evercore ISI cut their target price on OraSure Technologies from $7.00 to $6.50 and set an in-line rating on the stock in a research report on Thursday, April 4th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, OraSure Technologies has a consensus rating of Hold and a consensus target price of $6.38.

OraSure Technologies Stock Performance

OraSure Technologies stock opened at $5.26 on Tuesday. The stock’s 50 day moving average price is $6.35 and its 200 day moving average price is $6.80. The firm has a market capitalization of $402.44 million, a PE ratio of 7.31 and a beta of 0.15. OraSure Technologies has a one year low of $4.38 and a one year high of $8.45.

OraSure Technologies (NASDAQ:OSUR) last released its quarterly earnings results on Tuesday, February 27th. The medical instruments supplier reported $0.22 EPS for the quarter, topping the consensus estimate of $0.13 by $0.09. The firm had revenue of $75.88 million for the quarter, compared to analyst estimates of $74.13 million. OraSure Technologies had a return on equity of 14.50% and a net margin of 13.23%. OraSure Technologies’s revenue for the quarter was down 38.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.21 EPS. On average, analysts forecast that OraSure Technologies will post -0.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On OraSure Technologies

A number of institutional investors have recently made changes to their positions in OSUR. SG Americas Securities LLC increased its holdings in shares of OraSure Technologies by 235.1% in the 3rd quarter. SG Americas Securities LLC now owns 41,982 shares of the medical instruments supplier’s stock valued at $249,000 after acquiring an additional 29,452 shares during the last quarter. Simplicity Solutions LLC grew its stake in OraSure Technologies by 146.4% during the 3rd quarter. Simplicity Solutions LLC now owns 40,036 shares of the medical instruments supplier’s stock worth $237,000 after buying an additional 23,789 shares during the last quarter. Inspire Investing LLC bought a new position in OraSure Technologies during the 3rd quarter worth $670,000. Allspring Global Investments Holdings LLC grew its stake in OraSure Technologies by 421.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 384,439 shares of the medical instruments supplier’s stock worth $2,280,000 after buying an additional 310,715 shares during the last quarter. Finally, Panagora Asset Management Inc. grew its stake in OraSure Technologies by 22.4% during the 3rd quarter. Panagora Asset Management Inc. now owns 387,368 shares of the medical instruments supplier’s stock worth $2,297,000 after buying an additional 70,894 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

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.