StockNews.com Upgrades OraSure Technologies (NASDAQ:OSUR) to Buy

StockNews.com upgraded shares of OraSure Technologies (NASDAQ:OSUR - Free Report) from a hold rating to a buy rating in a report issued on Wednesday.

OraSure Technologies Stock Down 2.3 %

Shares of OraSure Technologies stock traded down $0.09 on Wednesday, reaching $3.82. The company's stock had a trading volume of 950,263 shares, compared to its average volume of 831,436. OraSure Technologies has a 52-week low of $3.52 and a 52-week high of $8.04. The company has a market capitalization of $284.93 million, a P/E ratio of 25.47 and a beta of 0.05. The stock has a 50-day moving average price of $3.81 and a 200-day moving average price of $4.06.

OraSure Technologies (NASDAQ:OSUR - Get Free Report) last issued its quarterly 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. The firm had revenue of $39.92 million for the quarter, compared to analyst estimates of $38.97 million. OraSure Technologies had a return on equity of 3.55% and a net margin of 5.07%. The business's revenue was down 55.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.27 earnings per share. Sell-side analysts forecast that OraSure Technologies will post -0.08 earnings per share for the current fiscal year.

Institutional Trading of OraSure Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OSUR. Millennium Management LLC increased its position in OraSure Technologies by 727.5% during the second quarter. Millennium Management LLC now owns 2,021,126 shares of the medical instruments supplier's stock worth $8,610,000 after buying an additional 1,776,867 shares during the period. Geode Capital Management LLC increased its holdings in shares of OraSure Technologies by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,797,814 shares of the medical instruments supplier's stock valued at $7,678,000 after acquiring an additional 32,929 shares during the period. Systematic Financial Management LP increased its holdings in shares of OraSure Technologies by 14.9% in the 3rd quarter. Systematic Financial Management LP now owns 1,252,112 shares of the medical instruments supplier's stock valued at $5,347,000 after acquiring an additional 162,364 shares during the period. BNP Paribas Financial Markets boosted its stake in OraSure Technologies by 27.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 855,951 shares of the medical instruments supplier's stock worth $3,655,000 after purchasing an additional 183,191 shares during the period. Finally, JPMorgan Chase & Co. grew its position in OraSure Technologies by 5.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 847,933 shares of the medical instruments supplier's stock worth $3,621,000 after purchasing an additional 46,216 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.