183,800 Shares in OraSure Technologies, Inc. (NASDAQ:OSUR) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new position in OraSure Technologies, Inc. (NASDAQ:OSUR - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 183,800 shares of the medical instruments supplier's stock, valued at approximately $664,000. KLP Kapitalforvaltning AS owned approximately 0.25% of OraSure Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in OSUR. Raymond James Financial Inc. purchased a new position in OraSure Technologies in the 4th quarter worth approximately $37,000. Atom Investors LP bought a new position in shares of OraSure Technologies during the third quarter valued at $49,000. AXQ Capital LP bought a new stake in OraSure Technologies in the 4th quarter worth about $51,000. US Bancorp DE raised its position in OraSure Technologies by 310.4% in 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 during the last quarter. Finally, Aigen Investment Management LP bought a new position in OraSure Technologies during the 4th quarter valued at about $76,000. Institutional investors own 93.50% of the company's stock.

OraSure Technologies Stock Performance

Shares of OSUR stock traded down $0.11 on Friday, reaching $3.11. The stock had a trading volume of 793,830 shares, compared to its average volume of 878,812. The company has a 50 day simple moving average of $3.63 and a 200 day simple moving average of $3.84. The stock has a market cap of $232.63 million, a P/E ratio of 20.73 and a beta of 0.76. OraSure Technologies, Inc. has a 1 year low of $2.69 and a 1 year high of $6.05.

OraSure Technologies announced that its Board of Directors has initiated a stock repurchase plan 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 repurchase up to 15.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company's management believes its shares are undervalued.

Analyst Ratings Changes

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

Insider Activity at OraSure Technologies

In other news, CEO Manner Carrie Eglinton bought 78,625 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average cost 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 of the company's stock, valued at approximately $3,967,941.60. This represents a 6.66 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John P. Kenny bought 47,659 shares of the stock in a transaction dated Thursday, February 27th. The shares were purchased 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 in the company, valued at approximately $224,800.55. The trade was a 204.93 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 190,284 shares of company stock worth $600,348. 3.40% of the stock is owned by corporate insiders.

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.