OraSure Technologies (NASDAQ:OSUR) Rating Lowered to Hold at StockNews.com

OraSure Technologies (NASDAQ:OSURGet Free Report) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Thursday.

OraSure Technologies Price Performance

Shares of OraSure Technologies stock opened at $3.71 on Thursday. The stock’s 50 day simple moving average is $3.89 and its 200-day simple moving average is $4.12. The stock has a market cap of $276.74 million, a P/E ratio of 24.73 and a beta of 0.05. OraSure Technologies has a 1-year low of $3.52 and a 1-year high of $8.33.

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

Institutional Investors Weigh In On OraSure Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC grew its position in 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 in the last quarter. American Century Companies Inc. raised 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 worth $7,710,000 after acquiring an additional 418,603 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of OraSure Technologies by 20.6% in the 2nd 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 last quarter. Massachusetts Financial Services Co. MA purchased a new stake in OraSure Technologies in the 2nd quarter valued at $1,602,000. Finally, Squarepoint Ops LLC grew its holdings in shares of OraSure Technologies by 1,348.5% during the second quarter. Squarepoint Ops LLC now owns 249,641 shares of the medical instruments supplier’s stock worth $1,063,000 after buying an additional 232,407 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

OraSure Technologies Company Profile

(Get Free Report)

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.

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