OraSure Technologies (NASDAQ:OSUR) Downgraded by StockNews.com to "Hold"

OraSure Technologies (NASDAQ:OSUR - Get Free Report) was downgraded by stock analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued on Thursday.

OraSure Technologies Stock Down 1.9 %

Shares of OSUR traded down $0.07 during midday trading on Thursday, hitting $3.71. The company's stock had a trading volume of 789,504 shares, compared to its average volume of 883,410. OraSure Technologies has a one year low of $3.52 and a one year high of $8.33. The stock has a market capitalization of $276.74 million, a price-to-earnings ratio of 24.73 and a beta of 0.05. The company's fifty day simple moving average is $3.88 and its two-hundred day simple moving average is $4.12.

OraSure Technologies (NASDAQ:OSUR - Get Free Report) last released its earnings results on Wednesday, November 6th. The medical instruments supplier reported ($0.06) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $39.92 million for the quarter, compared to analysts' expectations of $38.97 million. During the same quarter in the previous year, the business posted $0.27 earnings per share. The business's revenue for the quarter was down 55.2% on a year-over-year basis. On average, research analysts predict that OraSure Technologies will post -0.08 earnings per share for the current year.

Institutional Investors Weigh In On OraSure Technologies

Several hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets raised its position in OraSure Technologies by 27.2% in the third quarter. BNP Paribas Financial Markets now owns 855,951 shares of the medical instruments supplier's stock valued at $3,655,000 after purchasing an additional 183,191 shares during the last quarter. Franklin Resources Inc. raised its holdings in OraSure Technologies by 28.5% in the 3rd quarter. Franklin Resources Inc. now owns 269,269 shares of the medical instruments supplier's stock valued at $1,091,000 after buying an additional 59,723 shares during the last quarter. Deerfield Management Company L.P. Series C boosted its position in OraSure Technologies by 428.6% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 152,003 shares of the medical instruments supplier's stock worth $648,000 after buying an additional 123,248 shares during the period. Barclays PLC boosted its position in OraSure Technologies by 182.6% during the 3rd 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 period. Finally, Geode Capital Management LLC grew its holdings in OraSure Technologies by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,797,814 shares of the medical instruments supplier's stock worth $7,678,000 after acquiring an additional 32,929 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

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.