Rpo LLC Makes New Investment in OraSure Technologies, Inc. (NASDAQ:OSUR)

Rpo LLC purchased a new stake in shares of OraSure Technologies, Inc. (NASDAQ:OSUR) during the fourth quarter, Holdings Channel reports. The fund purchased 15,406 shares of the medical instruments supplier’s stock, valued at approximately $56,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in OSUR. Intech Investment Management LLC bought a new position in OraSure Technologies in the 3rd quarter valued at approximately $84,000. BNP Paribas Financial Markets increased its position in OraSure Technologies by 27.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 855,951 shares of the medical instruments supplier’s stock valued at $3,655,000 after acquiring an additional 183,191 shares during the period. Walleye Capital LLC bought a new position in shares of OraSure Technologies during the third quarter valued at $835,000. Atom Investors LP acquired a new position in shares of OraSure Technologies during the third quarter worth $49,000. Finally, Jacobs Levy Equity Management Inc. grew its stake in shares of OraSure Technologies by 66.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 524,950 shares of the medical instruments supplier’s stock worth $2,242,000 after purchasing an additional 209,580 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered OraSure Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th.

Insider Activity at OraSure Technologies

In other news, CEO Manner Carrie Eglinton bought 78,625 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was acquired at an average cost of $3.15 per share, with a total value of $247,668.75. Following the transaction, the chief executive officer now directly owns 1,259,664 shares of the company’s stock, valued at approximately $3,967,941.60. This represents a 6.66 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John P. Kenny purchased 47,659 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average cost of $3.17 per share, for a total transaction of $151,079.03. Following the completion of the purchase, the director now owns 70,915 shares in the company, valued at $224,800.55. This trade represents a 204.93 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 190,284 shares of company stock worth $600,348 in the last 90 days. Corporate insiders own 3.40% of the company’s stock.

OraSure Technologies Stock Performance

NASDAQ:OSUR opened at $3.37 on Thursday. OraSure Technologies, Inc. has a fifty-two week low of $2.69 and a fifty-two week high of $6.35. The company has a 50 day simple moving average of $3.66 and a two-hundred day simple moving average of $3.86. The company has a market capitalization of $252.08 million, a PE ratio of 22.47 and a beta of -0.02.

OraSure Technologies declared that its board has authorized a share repurchase plan on Monday, March 24th that allows the company to repurchase $40.00 million in outstanding shares. This repurchase authorization allows the medical instruments supplier to repurchase up to 15.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.