OraSure Technologies, Inc. (NASDAQ:OSUR) Shares Sold by Cannell Capital LLC

Cannell Capital LLC trimmed its stake in OraSure Technologies, Inc. (NASDAQ:OSUR - Free Report) by 40.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,466,229 shares of the medical instruments supplier's stock after selling 1,005,794 shares during the period. OraSure Technologies comprises 1.1% of Cannell Capital LLC's holdings, making the stock its 26th biggest holding. Cannell Capital LLC owned about 1.97% of OraSure Technologies worth $5,293,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in shares of OraSure Technologies in the fourth quarter valued at approximately $37,000. AXQ Capital LP purchased a new stake in shares of OraSure Technologies in the 4th quarter worth $51,000. RPO LLC purchased a new stake in shares of OraSure Technologies in the 4th quarter worth $56,000. US Bancorp DE grew its position in shares of OraSure Technologies by 310.4% during the 4th quarter. US Bancorp DE now owns 19,433 shares of the medical instruments supplier's stock worth $70,000 after buying an additional 14,698 shares in the last quarter. Finally, Aigen Investment Management LP purchased a new position in shares of OraSure Technologies during the fourth quarter valued at $76,000. 93.50% of the stock is currently owned by institutional investors.

Insider Transactions at OraSure Technologies

In other news, Director John P. Kenny bought 47,659 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average price of $3.17 per share, with a total value of $151,079.03. Following the completion of the transaction, the director now directly owns 70,915 shares of the company's stock, valued at approximately $224,800.55. The trade was a 204.93 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Manner Carrie Eglinton purchased 78,625 shares of the business's stock in a transaction on Thursday, February 27th. The stock was purchased at an average cost of $3.15 per share, for a total transaction of $247,668.75. Following the completion of the acquisition, the chief executive officer now directly owns 1,259,664 shares of the company's stock, valued at approximately $3,967,941.60. The trade was a 6.66 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders purchased 190,284 shares of company stock valued at $600,348. Corporate insiders own 3.40% of the company's stock.

OraSure Technologies Stock Performance

NASDAQ:OSUR traded down $0.01 during trading hours on Friday, reaching $2.93. The company's stock had a trading volume of 388,148 shares, compared to its average volume of 883,798. The stock has a 50 day moving average price of $3.49 and a two-hundred day moving average price of $3.78. The company has a market capitalization of $219.16 million, a P/E ratio of 19.53 and a beta of 0.76. OraSure Technologies, Inc. has a 12 month low of $2.69 and a 12 month high of $5.59.

OraSure Technologies announced that its Board of Directors has authorized a share buyback program on Monday, March 24th that allows the company to buyback $40.00 million in outstanding shares. This buyback authorization allows the medical instruments supplier to reacquire up to 15.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

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

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.