OraSure Technologies (NASDAQ:OSUR) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?

OraSure Technologies, Inc. (NASDAQ:OSUR) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.76 and traded as high as $3.23. OraSure Technologies shares last traded at $3.12, with a volume of 365,416 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d)” rating on shares of OraSure Technologies in a research note on Thursday, January 22nd. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $3.00.

OraSure Technologies Price Performance

The firm has a market cap of $215.91 million, a price-to-earnings ratio of -3.23 and a beta of 0.85. The firm’s 50 day moving average price is $3.02 and its two-hundred day moving average price is $2.76.

OraSure Technologies (NASDAQ:OSUR) last announced its earnings results on Wednesday, February 25th. The medical instruments supplier reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.02). OraSure Technologies had a negative return on equity of 16.45% and a negative net margin of 59.76%.The business had revenue of $26.76 million for the quarter, compared to analyst estimates of $26.44 million.

Insider Activity

In other news, CFO Kenneth J. Mcgrath purchased 32,300 shares of the business’s stock in a transaction that occurred on Friday, March 20th. The stock was purchased at an average cost of $2.93 per share, with a total value of $94,639.00. Following the completion of the acquisition, the chief financial officer directly owned 589,562 shares of the company’s stock, valued at approximately $1,727,416.66. This trade represents a 5.80% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Manner Carrie Eglinton purchased 32,300 shares of the business’s stock in a transaction that occurred on Friday, March 20th. The shares were purchased at an average cost of $2.93 per share, with a total value of $94,639.00. Following the completion of the acquisition, the chief executive officer directly owned 2,190,874 shares of the company’s stock, valued at $6,419,260.82. This represents a 1.50% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 108,643 shares of company stock valued at $321,407 over the last three months. 3.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in OSUR. Quadrature Capital Ltd purchased a new position in OraSure Technologies in the fourth quarter valued at about $28,000. Prudential Financial Inc. purchased a new position in OraSure Technologies in the second quarter valued at about $31,000. Amundi purchased a new position in OraSure Technologies in the first quarter valued at about $47,000. SG Americas Securities LLC increased its holdings in OraSure Technologies by 77.7% in the fourth quarter. SG Americas Securities LLC now owns 19,748 shares of the medical instruments supplier’s stock valued at $48,000 after buying an additional 8,632 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in OraSure Technologies by 102.2% in the third quarter. BNP Paribas Financial Markets now owns 15,275 shares of the medical instruments supplier’s stock valued at $49,000 after buying an additional 7,720 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

OraSure Technologies Company Profile

OraSure Technologies, Inc is a Bethlehem, Pennsylvania–based diagnostic and medical device company specializing in the development, manufacture and commercialization of point-of-care and self-testing products. Founded in 1988, OraSure has built a portfolio of oral fluid and other non-invasive specimen collection technologies that support the detection of infectious diseases, drugs of abuse, and health and wellness biomarkers.

The company’s flagship product, the OraQuick® rapid HIV test, was the first Food and Drug Administration–approved over-the-counter oral fluid test for the detection of HIV-1/2 antibodies.