KLP Kapitalforvaltning AS Invests $664,000 in OraSure Technologies, Inc. (NASDAQ:OSUR)

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

Other hedge funds have also modified their holdings of the company. AXQ Capital LP acquired a new stake in shares of OraSure Technologies during the fourth quarter worth about $51,000. American Century Companies Inc. lifted its stake in 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 acquiring an additional 240,224 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of OraSure Technologies in the 4th quarter valued at $37,000. Aigen Investment Management LP acquired a new stake in shares of OraSure Technologies in the fourth quarter worth $76,000. Finally, US Bancorp DE raised its holdings in shares of 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 purchasing an additional 14,698 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other OraSure Technologies news, CFO Kenneth J. Mcgrath purchased 64,000 shares of OraSure Technologies stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average price of $3.15 per share, with a total value of $201,600.00. Following the acquisition, the chief financial officer now owns 371,013 shares of the company's stock, valued at $1,168,690.95. This trade represents a 20.85 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John P. Kenny purchased 47,659 shares of the stock in a transaction on Thursday, February 27th. The shares were acquired at an average price of $3.17 per share, for a total transaction of $151,079.03. Following the transaction, the director now directly owns 70,915 shares of the company's stock, valued at $224,800.55. This represents a 204.93 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 190,284 shares of company stock valued at $600,348. Corporate insiders own 3.40% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

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

OraSure Technologies Trading Down 3.4 %

OraSure Technologies stock traded down $0.11 during mid-day trading on Friday, hitting $3.11. The company had a trading volume of 793,830 shares, compared to its average volume of 878,560. The company has a market capitalization of $232.63 million, a price-to-earnings ratio of 20.73 and a beta of 0.76. The company's fifty day moving average is $3.65 and its 200-day moving average is $3.86. OraSure Technologies, Inc. has a 12-month low of $2.69 and a 12-month high of $6.35.

OraSure Technologies declared that its Board of Directors has initiated a share 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 buy up to 15.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors 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.