OraSure Technologies (NASDAQ:OSUR) Raised to “Buy” at StockNews.com

OraSure Technologies (NASDAQ:OSUR) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

OraSure Technologies Trading Down 1.9 %

Shares of NASDAQ OSUR opened at $3.65 on Friday. The stock’s 50-day moving average is $3.81 and its 200 day moving average is $4.09. The stock has a market cap of $272.25 million, a price-to-earnings ratio of 24.33 and a beta of 0.05. OraSure Technologies has a 1-year low of $3.52 and a 1-year high of $8.30.

OraSure Technologies (NASDAQ:OSUR) last announced its quarterly earnings data on Wednesday, November 6th. The medical instruments supplier reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. OraSure Technologies had a return on equity of 3.55% and a net margin of 5.07%. The firm had revenue of $39.92 million for the quarter, compared to analysts’ expectations of $38.97 million. During the same period last year, the firm earned $0.27 earnings per share. The company’s revenue for the quarter was down 55.2% compared to the same quarter last year. On average, analysts forecast that OraSure Technologies will post -0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On OraSure Technologies

Hedge funds have recently modified their holdings of the company. Atom Investors LP bought a new stake in shares of OraSure Technologies in the third quarter worth about $49,000. Creative Planning purchased a new stake in OraSure Technologies in the 3rd quarter worth approximately $54,000. Mackenzie Financial Corp bought a new stake in shares of OraSure Technologies in the 2nd quarter worth approximately $72,000. Intech Investment Management LLC purchased a new position in shares of OraSure Technologies during the third quarter valued at approximately $84,000. Finally, SkyView Investment Advisors LLC raised its holdings in shares of OraSure Technologies by 100.0% during the second quarter. SkyView Investment Advisors LLC now owns 24,000 shares of the medical instruments supplier’s stock valued at $102,000 after acquiring an additional 12,000 shares in the last quarter. Hedge funds and other institutional investors own 93.50% 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.