Walleye Capital LLC Boosts Stock Position in OraSure Technologies, Inc. (NASDAQ:OSUR)

Walleye Capital LLC lifted its position in OraSure Technologies, Inc. (NASDAQ:OSUR - Free Report) by 50.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 294,547 shares of the medical instruments supplier's stock after acquiring an additional 99,095 shares during the period. Walleye Capital LLC owned about 0.39% of OraSure Technologies worth $1,063,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Causeway Capital Management LLC purchased a new stake in OraSure Technologies in the 4th quarter worth approximately $36,000. Raymond James Financial Inc. acquired a new stake in OraSure Technologies during the fourth quarter valued at $37,000. AXQ Capital LP purchased a new position in OraSure Technologies in the fourth quarter valued at about $51,000. RPO LLC purchased a new stake in shares of OraSure Technologies during the 4th quarter worth about $56,000. Finally, US Bancorp DE grew its stake in shares of OraSure Technologies by 310.4% in the 4th quarter. US Bancorp DE now owns 19,433 shares of the medical instruments supplier's stock valued at $70,000 after buying an additional 14,698 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Analyst Upgrades and Downgrades

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

OraSure Technologies Stock Performance

Shares of OraSure Technologies stock traded up $0.03 on Thursday, reaching $3.03. The stock had a trading volume of 250,954 shares, compared to its average volume of 874,843. The business's 50-day moving average price is $3.35 and its two-hundred day moving average price is $3.72. The stock has a market cap of $226.64 million, a P/E ratio of 20.20 and a beta of 0.76. OraSure Technologies, Inc. has a fifty-two week low of $2.69 and a fifty-two week high of $5.59.

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

Insider Activity

In other news, CFO Kenneth J. Mcgrath bought 64,000 shares of the firm's stock in a transaction on Thursday, February 27th. The stock was acquired at an average price of $3.15 per share, with a total value of $201,600.00. Following the transaction, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 acquired at an average cost of $3.15 per share, with a total value of $247,668.75. Following the purchase, the chief executive officer now directly owns 1,259,664 shares of the company's stock, valued at $3,967,941.60. This trade represents a 6.66 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 190,284 shares of company stock worth $600,348. Corporate insiders own 3.90% of the company's stock.

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.