Geode Capital Management LLC Increases Stake in OraSure Technologies, Inc. (NASDAQ:OSUR)

Geode Capital Management LLC increased its holdings in OraSure Technologies, Inc. (NASDAQ:OSUR) by 1.9% during the third quarter, Holdings Channel.com reports. The firm owned 1,797,814 shares of the medical instruments supplier’s stock after acquiring an additional 32,929 shares during the quarter. Geode Capital Management LLC’s holdings in OraSure Technologies were worth $7,678,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Millennium Management LLC lifted its stake in shares of OraSure Technologies by 727.5% in the 2nd quarter. Millennium Management LLC now owns 2,021,126 shares of the medical instruments supplier’s stock valued at $8,610,000 after acquiring an additional 1,776,867 shares during the last quarter. Acadian Asset Management LLC increased its stake in OraSure Technologies by 38.1% in the 2nd quarter. Acadian Asset Management LLC now owns 2,195,582 shares of the medical instruments supplier’s stock worth $9,349,000 after purchasing an additional 605,324 shares during the period. American Century Companies Inc. lifted its position in OraSure Technologies by 30.1% in the second quarter. American Century Companies Inc. now owns 1,809,897 shares of the medical instruments supplier’s stock valued at $7,710,000 after purchasing an additional 418,603 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of 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. Finally, Massachusetts Financial Services Co. MA purchased a new stake in shares of OraSure Technologies during the second quarter valued at approximately $1,602,000. 93.50% of the stock is owned by institutional investors.

OraSure Technologies Trading Down 1.9 %

NASDAQ OSUR opened at $3.54 on Friday. OraSure Technologies, Inc. has a 12 month low of $3.52 and a 12 month high of $8.45. The stock’s fifty day moving average price is $3.92 and its 200-day moving average price is $4.14. The stock has a market cap of $264.06 million, a P/E ratio of 23.60 and a beta of 0.03.

OraSure Technologies (NASDAQ:OSUR) last posted its earnings results on Wednesday, November 6th. The medical instruments supplier reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The business had revenue of $39.92 million during the quarter, compared to analyst estimates of $38.97 million. OraSure Technologies had a return on equity of 3.55% and a net margin of 5.07%. The company’s quarterly revenue was down 55.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.27 EPS. As a group, analysts forecast that OraSure Technologies, Inc. will post -0.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com raised shares of OraSure Technologies from a “hold” rating to a “buy” rating in a report on Wednesday.

OraSure Technologies 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.