Charles Schwab Investment Management Inc. Has $2.09 Million Holdings in OraSure Technologies, Inc. (NASDAQ:OSUR)

Charles Schwab Investment Management Inc. decreased its holdings in shares of OraSure Technologies, Inc. (NASDAQ:OSUR - Free Report) by 16.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 578,768 shares of the medical instruments supplier's stock after selling 115,866 shares during the period. Charles Schwab Investment Management Inc. owned about 0.78% of OraSure Technologies worth $2,089,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Atom Investors LP bought a new position in shares of OraSure Technologies during the 3rd quarter worth approximately $49,000. US Bancorp DE raised its stake in OraSure Technologies by 310.4% during the fourth quarter. US Bancorp DE now owns 19,433 shares of the medical instruments supplier's stock worth $70,000 after acquiring an additional 14,698 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of OraSure Technologies in the 3rd quarter valued at $84,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of OraSure Technologies by 78.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 28,731 shares of the medical instruments supplier's stock valued at $123,000 after purchasing an additional 12,604 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of OraSure Technologies during the 4th quarter worth about $205,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at OraSure Technologies

In other news, CFO Kenneth J. Mcgrath acquired 64,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average cost of $3.15 per share, for a total transaction of $201,600.00. Following the completion of the transaction, the chief financial officer now directly owns 371,013 shares in the company, valued at $1,168,690.95. This trade represents a 20.85 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Manner Carrie Eglinton bought 78,625 shares of the business's 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 transaction, the chief executive officer now owns 1,259,664 shares in the company, valued at approximately $3,967,941.60. This trade represents a 6.66 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 190,284 shares of company stock worth $600,348. 3.40% of the stock is currently owned by corporate insiders.

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Wall Street Analysts Forecast Growth

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

OraSure Technologies Stock Down 1.7 %

OSUR stock traded down $0.06 during midday trading on Monday, reaching $3.37. 1,695,343 shares of the company's stock traded hands, compared to its average volume of 883,185. The company has a 50-day simple moving average of $3.69 and a two-hundred day simple moving average of $3.88. OraSure Technologies, Inc. has a 1-year low of $2.69 and a 1-year high of $6.35. The company has a market cap of $252.08 million, a price-to-earnings ratio of 22.47 and a beta of -0.02.

OraSure Technologies announced that its board has authorized a share buyback program on Monday, March 24th that allows the company to buyback $40.00 million in shares. This buyback authorization allows the medical instruments supplier to purchase up to 15.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

OraSure Technologies Company 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.