Wells Fargo & Company MN Trims Stake in OraSure Technologies, Inc. (NASDAQ:OSUR)

Wells Fargo & Company MN reduced its stake in shares of OraSure Technologies, Inc. (NASDAQ:OSUR - Free Report) by 13.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 673,980 shares of the medical instruments supplier's stock after selling 102,047 shares during the period. Wells Fargo & Company MN owned about 0.90% of OraSure Technologies worth $2,433,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Principal Financial Group Inc. lifted its holdings in OraSure Technologies by 10.7% during 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 last quarter. Franklin Resources Inc. raised its position in shares of OraSure Technologies by 28.5% in the third quarter. Franklin Resources Inc. now owns 269,269 shares of the medical instruments supplier's stock valued at $1,091,000 after purchasing an additional 59,723 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of OraSure Technologies by 5.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 847,933 shares of the medical instruments supplier's stock valued at $3,621,000 after buying an additional 46,216 shares in the last quarter. Barclays PLC grew its stake in OraSure Technologies by 182.6% in the 3rd quarter. Barclays PLC now owns 195,793 shares of the medical instruments supplier's stock valued at $836,000 after buying an additional 126,503 shares in the last quarter. Finally, Exchange Traded Concepts LLC bought a new stake in OraSure Technologies during the 4th quarter valued at $287,000. Hedge funds and other institutional investors own 93.50% of the company's stock.

Wall Street Analyst Weigh In

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

OraSure Technologies Stock Down 1.3 %

Shares of OraSure Technologies stock traded down $0.04 during trading on Friday, hitting $2.99. 329,134 shares of the stock traded hands, compared to its average volume of 874,501. The firm's fifty day moving average is $3.31 and its 200-day moving average is $3.70. 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 52 week low of $2.69 and a 52 week high of $5.59.

OraSure Technologies declared that its Board of Directors has authorized a share repurchase program on Monday, March 24th that permits the company to repurchase $40.00 million in shares. This repurchase authorization permits the medical instruments supplier to repurchase up to 15.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In other OraSure Technologies news, CFO Kenneth J. Mcgrath bought 64,000 shares of the company's stock in a transaction dated Thursday, February 27th. The shares were purchased at an average price of $3.15 per share, for a total transaction of $201,600.00. Following the acquisition, the chief financial officer now owns 371,013 shares in the company, valued at approximately $1,168,690.95. This represents a 20.85 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John P. Kenny bought 47,659 shares of the firm's stock in a transaction on Thursday, February 27th. The shares were acquired at an average cost of $3.17 per share, with a total value 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 represents a 204.93 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 190,284 shares of company stock valued at $600,348 in the last ninety days. Company insiders own 3.90% 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.