OraSure Technologies (NASDAQ:OSUR) Upgraded by StockNews.com to Buy Rating

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 Price Performance

NASDAQ:OSUR opened at $3.65 on Friday. The firm has a 50-day moving average of $3.81 and a 200-day moving average of $4.09. The company has a market cap of $272.25 million, a PE 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.

OraSure Technologies (NASDAQ:OSUR) last released its earnings results on Wednesday, November 6th. The medical instruments supplier reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The firm had revenue of $39.92 million for the quarter, compared to analysts’ expectations of $38.97 million. OraSure Technologies had a net margin of 5.07% and a return on equity of 3.55%. The company’s quarterly revenue was down 55.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.27 earnings per share. On average, equities research analysts expect that OraSure Technologies will post -0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On OraSure Technologies

Institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its position 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 worth $9,749,000 after purchasing an additional 391,100 shares during the period. Millennium Management LLC lifted its position in OraSure Technologies by 727.5% during 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 period. American Century Companies Inc. lifted its position 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. Geode Capital Management LLC lifted its position in OraSure Technologies by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,797,814 shares of the medical instruments supplier’s stock valued at $7,678,000 after acquiring an additional 32,929 shares during the period. Finally, Systematic Financial Management LP lifted its position in OraSure Technologies by 14.9% during the 3rd quarter. Systematic Financial Management LP now owns 1,252,112 shares of the medical instruments supplier’s stock valued at $5,347,000 after acquiring an additional 162,364 shares during the period. Hedge funds and other 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.