StockNews.com Downgrades OraSure Technologies (NASDAQ:OSUR) to Hold

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

OraSure Technologies Price Performance

OraSure Technologies stock opened at $3.99 on Tuesday. OraSure Technologies has a 12 month low of $3.52 and a 12 month high of $8.04. The stock has a market capitalization of $297.61 million, a PE ratio of 26.60 and a beta of 0.05. The business has a 50 day simple moving average of $3.80 and a 200-day simple moving average of $4.08.

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

Institutional Investors Weigh In On OraSure Technologies

Several large investors have recently bought and sold shares of the company. Atom Investors LP purchased a new position in OraSure Technologies in the 3rd quarter valued at $49,000. Creative Planning purchased a new position in shares of OraSure Technologies during the 3rd quarter worth $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 acquired a new position in shares of OraSure Technologies during the 3rd quarter valued at about $84,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of OraSure Technologies by 78.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 28,731 shares of the medical instruments supplier’s stock valued at $123,000 after purchasing an additional 12,604 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

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.