OraSure Technologies (NASDAQ:OSUR) Lowered to “Hold” Rating by StockNews.com

StockNews.com cut shares of OraSure Technologies (NASDAQ:OSUR) from a buy rating to a hold rating in a research note published on Thursday.

OraSure Technologies Stock Performance

OSUR stock opened at $3.71 on Thursday. The firm has a 50 day moving average price of $3.88 and a 200-day moving average price of $4.12. OraSure Technologies has a 52-week low of $3.52 and a 52-week high of $8.33. The firm has a market capitalization of $276.74 million, a price-to-earnings ratio of 24.73 and a beta of 0.05.

OraSure Technologies (NASDAQ:OSUR) last announced its quarterly earnings data 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 business had revenue of $39.92 million during the quarter, compared to analysts’ expectations of $38.97 million. During the same quarter in the previous year, the business earned $0.27 earnings per share. The firm’s quarterly revenue was down 55.2% compared to the same quarter last year. As a group, sell-side analysts forecast that OraSure Technologies will post -0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On OraSure Technologies

A number of institutional investors have recently made changes to their positions in OSUR. Atom Investors LP purchased a new position in OraSure Technologies in the 3rd quarter worth about $49,000. Creative Planning bought a new position in OraSure Technologies in the third quarter worth approximately $54,000. Mackenzie Financial Corp purchased a new position in shares of OraSure Technologies during the 2nd quarter worth $72,000. Intech Investment Management LLC bought a new stake in shares of OraSure Technologies during the 3rd quarter valued at $84,000. Finally, SkyView Investment Advisors LLC increased its stake in shares of OraSure Technologies by 100.0% in the 2nd quarter. SkyView Investment Advisors LLC now owns 24,000 shares of the medical instruments supplier’s stock worth $102,000 after purchasing an additional 12,000 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

About OraSure Technologies

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.