Vanguard Group Inc. Sells 83,941 Shares of OraSure Technologies, Inc. (NASDAQ:OSUR)

Vanguard Group Inc. cut its holdings in shares of OraSure Technologies, Inc. (NASDAQ:OSUR - Free Report) by 1.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,297,335 shares of the medical instruments supplier's stock after selling 83,941 shares during the period. Vanguard Group Inc. owned about 5.76% of OraSure Technologies worth $15,513,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OSUR. Raymond James Financial Inc. bought a new stake in shares of OraSure Technologies during the fourth quarter worth $37,000. AXQ Capital LP acquired a new position in OraSure Technologies during the 4th quarter worth about $51,000. US Bancorp DE grew its holdings in OraSure Technologies by 310.4% during the 4th quarter. US Bancorp DE now owns 19,433 shares of the medical instruments supplier's stock worth $70,000 after acquiring an additional 14,698 shares during the last quarter. Aigen Investment Management LP acquired a new stake in OraSure Technologies in the 4th quarter valued at about $76,000. Finally, SG Americas Securities LLC bought a new position in shares of OraSure Technologies in the fourth quarter worth about $205,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

OraSure Technologies Stock Up 2.4 %

OraSure Technologies stock opened at $2.99 on Friday. The business's 50-day simple moving average is $3.42 and its 200 day simple moving average is $3.75. The stock has a market cap of $223.65 million, a price-to-earnings ratio of 19.93 and a beta of 0.76. OraSure Technologies, Inc. has a 12-month low of $2.69 and a 12-month high of $5.59.

OraSure Technologies declared that its board has authorized a stock repurchase program on Monday, March 24th that permits the company to buyback $40.00 million in outstanding shares. This buyback authorization permits the medical instruments supplier to reacquire up to 15.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at OraSure Technologies

In related news, CFO Kenneth J. Mcgrath acquired 64,000 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The stock was acquired at an average cost of $3.15 per share, with a total value of $201,600.00. Following the completion of the purchase, the chief financial officer now directly owns 371,013 shares in the company, valued at approximately $1,168,690.95. This trade represents a 20.85 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John P. Kenny bought 47,659 shares of the business's stock in a transaction on Thursday, February 27th. The stock was bought at an average cost of $3.17 per share, for a total transaction of $151,079.03. Following the purchase, the director now directly owns 70,915 shares of the company's stock, valued at approximately $224,800.55. This trade represents a 204.93 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 190,284 shares of company stock worth $600,348. Company insiders own 3.40% 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.

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