Russell Investments Group Ltd. Sells 102,134 Shares of OraSure Technologies, Inc. (NASDAQ:OSUR)

Russell Investments Group Ltd. lessened its stake in OraSure Technologies, Inc. (NASDAQ:OSUR - Free Report) by 24.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 320,419 shares of the medical instruments supplier's stock after selling 102,134 shares during the period. Russell Investments Group Ltd. owned approximately 0.43% of OraSure Technologies worth $1,157,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Peapod Lane Capital LLC bought a new stake in shares of OraSure Technologies in the fourth quarter worth $1,730,000. American Century Companies Inc. grew its stake in shares of 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 purchasing an additional 240,224 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of OraSure Technologies during the 4th quarter valued at about $664,000. ExodusPoint Capital Management LP increased its position in shares of OraSure Technologies by 1,007.1% during the 4th quarter. ExodusPoint Capital Management LP now owns 168,941 shares of the medical instruments supplier's stock valued at $610,000 after purchasing an additional 153,681 shares during the last quarter. Finally, Barclays PLC boosted its holdings in shares of OraSure Technologies by 182.6% in the third quarter. Barclays PLC now owns 195,793 shares of the medical instruments supplier's stock worth $836,000 after buying an additional 126,503 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other OraSure Technologies news, Director John P. Kenny acquired 47,659 shares of the company's stock in a transaction dated Thursday, February 27th. The stock was purchased at an average price of $3.17 per share, with a total value of $151,079.03. Following the completion of the purchase, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kenneth J. Mcgrath bought 64,000 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, for a total transaction of $201,600.00. Following the purchase, 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 position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 190,284 shares of company stock valued at $600,348. 3.90% of the stock is owned by corporate insiders.

OraSure Technologies Stock Up 0.8 %

OSUR traded up $0.03 during midday trading on Thursday, reaching $3.03. The company had a trading volume of 159,050 shares, compared to its average volume of 826,973. OraSure Technologies, Inc. has a 1 year low of $2.68 and a 1 year high of $5.59. The company has a market cap of $226.27 million, a P/E ratio of 20.17 and a beta of 0.76. The business has a 50-day moving average of $3.35 and a two-hundred day moving average of $3.72.

OraSure Technologies announced that its board has initiated a stock repurchase plan on Monday, March 24th that authorizes the company to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the medical instruments supplier to buy up to 15.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its stock is undervalued.

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 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.