Alliancebernstein L.P. Decreases Stock Holdings in OraSure Technologies, Inc. (NASDAQ:OSUR)

Alliancebernstein L.P. lessened its stake in shares of OraSure Technologies, Inc. (NASDAQ:OSUR - Free Report) by 9.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 862,974 shares of the medical instruments supplier's stock after selling 91,480 shares during the period. Alliancebernstein L.P. owned 1.16% of OraSure Technologies worth $3,115,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Peapod Lane Capital LLC acquired a new position in OraSure Technologies in the 4th quarter valued at about $1,730,000. American Century Companies Inc. raised its position in shares of OraSure Technologies by 11.4% during the 4th quarter. American Century Companies Inc. now owns 2,345,837 shares of the medical instruments supplier's stock valued at $8,468,000 after buying an additional 240,224 shares during the period. KLP Kapitalforvaltning AS acquired a new position in OraSure Technologies in the fourth quarter valued at approximately $664,000. Barclays PLC grew its position in OraSure Technologies by 182.6% in the third quarter. Barclays PLC now owns 195,793 shares of the medical instruments supplier's stock worth $836,000 after acquiring an additional 126,503 shares during the period. Finally, Exchange Traded Concepts LLC acquired a new stake in OraSure Technologies during the fourth quarter worth $287,000. Hedge funds and other institutional investors own 93.50% of the company's stock.

Insider Buying and Selling at OraSure Technologies

In other OraSure Technologies news, CFO Kenneth J. Mcgrath acquired 64,000 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average price of $3.15 per share, for a total transaction of $201,600.00. Following the completion of the acquisition, the chief financial officer now owns 371,013 shares of the company's stock, valued at approximately $1,168,690.95. This trade represents a 20.85 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Manner Carrie Eglinton bought 78,625 shares of OraSure Technologies stock in a transaction on Thursday, February 27th. The shares were acquired at an average price of $3.15 per share, for a total transaction of $247,668.75. Following the completion of the acquisition, the chief executive officer now owns 1,259,664 shares in the company, valued at $3,967,941.60. This represents a 6.66 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 190,284 shares of company stock valued at $600,348 over the last quarter. 3.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered OraSure Technologies from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th.

OraSure Technologies Stock Performance

Shares of OraSure Technologies stock traded up $0.07 on Friday, reaching $2.99. The company had a trading volume of 704,592 shares, compared to its average volume of 881,151. The firm's 50 day moving average price is $3.40 and its two-hundred day moving average price is $3.74. OraSure Technologies, Inc. has a 52-week low of $2.69 and a 52-week high of $5.59. The firm has a market cap of $223.65 million, a PE ratio of 19.93 and a beta of 0.76.

OraSure Technologies declared that its board has initiated a share buyback plan on Monday, March 24th that authorizes the company to repurchase $40.00 million in shares. This repurchase authorization authorizes the medical instruments supplier to repurchase up to 15.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's management believes its stock is undervalued.

OraSure Technologies Profile

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.