OraSure Technologies (NASDAQ:OSUR) Upgraded at StockNews.com

OraSure Technologies (NASDAQ:OSUR) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Wednesday.

OraSure Technologies Trading Up 0.8 %

Shares of OraSure Technologies stock traded up $0.03 on Wednesday, reaching $3.61. 528,071 shares of the stock were exchanged, compared to its average volume of 894,514. The firm has a market capitalization of $269.28 million, a PE ratio of 24.07 and a beta of 0.03. OraSure Technologies has a 1-year low of $3.52 and a 1-year high of $8.45. The business has a fifty day moving average price of $3.93 and a two-hundred day moving average price of $4.14.

OraSure Technologies (NASDAQ:OSUR) last released its earnings results on Wednesday, November 6th. The medical instruments supplier reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.02. The company had revenue of $39.92 million for the quarter, compared to analysts’ expectations of $38.97 million. OraSure Technologies had a return on equity of 3.55% and a net margin of 5.07%. The firm’s quarterly revenue was down 55.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.27 EPS. Research analysts expect that OraSure Technologies will post -0.08 EPS for the current year.

Institutional Trading of OraSure Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in OSUR. Millennium Management LLC increased its holdings in OraSure Technologies by 727.5% in the second quarter. Millennium Management LLC now owns 2,021,126 shares of the medical instruments supplier’s stock valued at $8,610,000 after buying an additional 1,776,867 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of OraSure Technologies by 38.1% in the 2nd quarter. Acadian Asset Management LLC now owns 2,195,582 shares of the medical instruments supplier’s stock worth $9,349,000 after acquiring an additional 605,324 shares during the period. American Century Companies Inc. increased its stake in OraSure Technologies by 30.1% in the 2nd quarter. American Century Companies Inc. now owns 1,809,897 shares of the medical instruments supplier’s stock valued at $7,710,000 after purchasing an additional 418,603 shares in the last quarter. Renaissance Technologies LLC raised its holdings in OraSure Technologies by 20.6% during the second quarter. Renaissance Technologies LLC now owns 2,288,443 shares of the medical instruments supplier’s stock worth $9,749,000 after purchasing an additional 391,100 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new stake in OraSure Technologies during the second quarter worth $1,602,000. Institutional investors and hedge funds 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.