OraSure Technologies (NASDAQ:OSUR) Upgraded to “Buy” at StockNews.com

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

OraSure Technologies Stock Performance

Shares of OSUR stock opened at $3.65 on Friday. The company has a market capitalization of $272.27 million, a price-to-earnings ratio of 24.33 and a beta of 0.05. OraSure Technologies has a one year low of $3.52 and a one year high of $8.30. The company’s 50-day moving average is $3.81 and its 200 day moving average is $4.09.

OraSure Technologies (NASDAQ:OSUR) last posted its quarterly earnings results on Wednesday, November 6th. The medical instruments supplier reported ($0.06) EPS for the quarter, beating 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 firm had revenue of $39.92 million for the quarter, compared to analysts’ expectations of $38.97 million. During the same quarter in the prior year, the company posted $0.27 earnings per share. The business’s revenue for the quarter was down 55.2% on a year-over-year basis. As a group, research analysts predict that OraSure Technologies will post -0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On OraSure Technologies

Several institutional investors have recently modified their holdings of the business. American Century Companies Inc. lifted its stake in OraSure Technologies by 30.1% during 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 acquiring an additional 418,603 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in shares of OraSure Technologies during the second quarter valued at approximately $1,602,000. Renaissance Technologies LLC lifted its position 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 valued at $9,749,000 after purchasing an additional 391,100 shares during the period. Hsbc Holdings PLC boosted its holdings in OraSure Technologies by 470.6% in the second quarter. Hsbc Holdings PLC now owns 200,779 shares of the medical instruments supplier’s stock worth $850,000 after purchasing an additional 165,590 shares during the last quarter. Finally, Inspire Investing LLC bought a new stake in OraSure Technologies in the 2nd quarter worth approximately $734,000. 93.50% of the stock is 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.