Evercore ISI Cuts OraSure Technologies (NASDAQ:OSUR) Price Target to $4.50

OraSure Technologies (NASDAQ:OSUR) had its target price decreased by research analysts at Evercore ISI from $5.50 to $4.50 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an “in-line” rating on the medical instruments supplier’s stock. Evercore ISI’s price target would indicate a potential upside of 11.66% from the stock’s previous close.

A number of other analysts have also weighed in on OSUR. JPMorgan Chase & Co. reduced their target price on OraSure Technologies from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Monday, May 13th. StockNews.com lowered OraSure Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, May 9th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $6.13.

OraSure Technologies Stock Performance

NASDAQ:OSUR opened at $4.03 on Tuesday. The stock’s fifty day moving average is $4.80 and its 200 day moving average is $6.26. OraSure Technologies has a fifty-two week low of $4.02 and a fifty-two week high of $8.45. The firm has a market capitalization of $298.06 million, a PE ratio of 13.43 and a beta of 0.09.

OraSure Technologies (NASDAQ:OSUR) last released its quarterly earnings results on Wednesday, May 8th. The medical instruments supplier reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. OraSure Technologies had a return on equity of 7.68% and a net margin of 7.50%. The company had revenue of $54.10 million for the quarter, compared to analyst estimates of $52.27 million. During the same quarter in the prior year, the firm posted $0.37 EPS. OraSure Technologies’s quarterly revenue was down 65.1% compared to the same quarter last year. Equities analysts forecast that OraSure Technologies will post -0.08 EPS for the current year.

Hedge Funds Weigh In On OraSure Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in OSUR. Pacer Advisors Inc. grew its position in shares of OraSure Technologies by 122.5% during the 4th quarter. Pacer Advisors Inc. now owns 2,403,333 shares of the medical instruments supplier’s stock worth $19,707,000 after buying an additional 1,323,197 shares in the last quarter. Cannell Capital LLC grew its position in shares of OraSure Technologies by 36.5% during the 3rd quarter. Cannell Capital LLC now owns 2,820,591 shares of the medical instruments supplier’s stock worth $16,726,000 after buying an additional 753,901 shares in the last quarter. AQR Capital Management LLC grew its position in shares of OraSure Technologies by 118.0% during the 3rd quarter. AQR Capital Management LLC now owns 935,510 shares of the medical instruments supplier’s stock worth $5,548,000 after buying an additional 506,312 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of OraSure Technologies by 46.4% during the 1st quarter. Acadian Asset Management LLC now owns 1,590,258 shares of the medical instruments supplier’s stock worth $9,776,000 after buying an additional 503,804 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of OraSure Technologies by 8.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,906,687 shares of the medical instruments supplier’s stock worth $32,035,000 after buying an additional 301,558 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

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.