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

OraSure Technologies (NASDAQ:OSUR) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

OraSure Technologies Stock Performance

NASDAQ:OSUR opened at $3.65 on Friday. The firm has a market cap of $272.25 million, a P/E ratio of 24.33 and a beta of 0.05. OraSure Technologies has a fifty-two week low of $3.52 and a fifty-two week high of $8.30. The firm has a 50-day simple moving average of $3.81 and a two-hundred day simple moving average of $4.09.

OraSure Technologies (NASDAQ:OSUR) last announced its quarterly earnings results 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. The firm had revenue of $39.92 million for the quarter, compared to the consensus estimate of $38.97 million. OraSure Technologies had a return on equity of 3.55% and a net margin of 5.07%. The company’s quarterly revenue was down 55.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.27 earnings per share. On average, equities research analysts predict that OraSure Technologies will post -0.08 EPS for the current year.

Institutional Investors Weigh In On OraSure Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Atom Investors LP purchased a new position in OraSure Technologies during the third quarter valued at $49,000. Creative Planning bought a new position in shares of OraSure Technologies during the 3rd quarter valued at approximately $54,000. Mackenzie Financial Corp purchased a new stake in OraSure Technologies in the 2nd quarter worth approximately $72,000. Intech Investment Management LLC bought a new stake in OraSure Technologies during the 3rd quarter worth approximately $84,000. Finally, SkyView Investment Advisors LLC lifted its holdings in OraSure Technologies by 100.0% during the second quarter. SkyView Investment Advisors LLC now owns 24,000 shares of the medical instruments supplier’s stock valued at $102,000 after purchasing an additional 12,000 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

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.