OraSure Technologies (NASDAQ:OSUR) Rating Lowered to "Hold" at StockNews.com

StockNews.com downgraded shares of OraSure Technologies (NASDAQ:OSUR - Free Report) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.

OraSure Technologies Stock Up 0.8 %

NASDAQ OSUR traded up $0.03 during trading hours on Tuesday, hitting $4.02. 866,943 shares of the stock were exchanged, compared to its average volume of 740,709. The company has a market cap of $299.85 million, a price-to-earnings ratio of 26.80 and a beta of 0.05. OraSure Technologies has a 12-month low of $3.52 and a 12-month high of $8.04. The stock has a 50-day moving average of $3.80 and a 200 day moving average of $4.08.

OraSure Technologies (NASDAQ:OSUR - Get Free Report) last issued its earnings results on Wednesday, November 6th. The medical instruments supplier reported ($0.06) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.08) by $0.02. OraSure Technologies had a return on equity of 3.55% and a net margin of 5.07%. The business had revenue of $39.92 million during the quarter, compared to the consensus estimate of $38.97 million. During the same period in the prior year, the business posted $0.27 EPS. The company's revenue for the quarter was down 55.2% on a year-over-year basis. On average, equities research analysts expect that OraSure Technologies will post -0.08 earnings per share for the current year.

Hedge Funds Weigh In On OraSure Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. lifted its stake in shares of OraSure Technologies by 10.7% in the fourth quarter. Principal Financial Group Inc. now owns 73,137 shares of the medical instruments supplier's stock valued at $264,000 after purchasing an additional 7,077 shares during the period. Peapod Lane Capital LLC purchased a new position in OraSure Technologies in the fourth quarter valued at about $1,730,000. Empowered Funds LLC lifted its position in shares of OraSure Technologies by 5.1% during the 4th quarter. Empowered Funds LLC now owns 377,906 shares of the medical instruments supplier's stock valued at $1,364,000 after acquiring an additional 18,487 shares during the period. Exchange Traded Concepts LLC purchased a new stake in shares of OraSure Technologies during the 4th quarter worth approximately $287,000. Finally, SG Americas Securities LLC acquired a new stake in shares of OraSure Technologies in the 4th quarter worth approximately $205,000. 93.50% of the stock is owned by institutional investors and hedge funds.

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.