OraSure Technologies (NASDAQ:OSUR) Posts Earnings Results, Meets Estimates

OraSure Technologies (NASDAQ:OSUR) announced its quarterly earnings results on Wednesday. The medical instruments supplier reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04, Briefing.com reports. The business had revenue of $54.10 million during the quarter, compared to the consensus estimate of $52.27 million. OraSure Technologies had a net margin of 13.23% and a return on equity of 14.50%. The business’s revenue was down 65.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.37 EPS. OraSure Technologies updated its Q2 2024 guidance to EPS.

OraSure Technologies Stock Down 4.9 %

Shares of OSUR traded down $0.26 during mid-day trading on Thursday, hitting $5.05. The company had a trading volume of 1,166,001 shares, compared to its average volume of 870,199. The business’s 50-day simple moving average is $6.07 and its 200-day simple moving average is $6.80. OraSure Technologies has a 1-year low of $4.38 and a 1-year high of $8.45. The stock has a market cap of $386.38 million, a PE ratio of 7.07 and a beta of 0.23.

Analysts Set New Price Targets

Several equities analysts have weighed in on OSUR shares. Evercore ISI dropped their target price on shares of OraSure Technologies from $7.00 to $6.50 and set an “in-line” rating for the company in a report on Thursday, April 4th. StockNews.com raised shares of OraSure Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, OraSure Technologies has an average rating of “Moderate Buy” and an average target price of $6.38.

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.