OraSure Technologies (OSUR) Lifted to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of OraSure Technologies (NASDAQ:OSUR) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.
According to Zacks, “OraSure Technologies, Inc. develops, manufactures and markets oral fluid specimen collection devices using proprietary oral fluid technologies, diagnostic products including immunoassays and other in vitro diagnostic tests, and other medical devices. These products are sold in the United States as well as internationally to various clinical laboratories, hospitals, clinics, community-based organizations and other public health organizations, distributors, government agencies, physicians’ offices, and commercial and industrial entities. OraSure Technologies is the leading supplier of oral-fluid collection devices and in vitro diagnostic assays to the employment, criminal justice, drug treatment, life insurance and public health markets for the detection of abused drugs and the antibodies to HIV. Based in Bethlehem, Pennsylvania, the Company develops, manufactures and markets oral specimen collection devices, in vitro diagnostic tests, and other medical devices. “
Several other analysts have also issued reports on OSUR. Jefferies Group reiterated a buy rating and issued a $20.00 target price on shares of OraSure Technologies in a research report on Tuesday, September 12th. Canaccord Genuity reiterated a buy rating and issued a $22.00 target price on shares of OraSure Technologies in a research report on Tuesday, September 19th. Finally, ValuEngine lowered shares of OraSure Technologies from a buy rating to a hold rating in a research report on Thursday, November 2nd. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. OraSure Technologies has a consensus rating of Buy and a consensus target price of $18.21.
Shares of OraSure Technologies (NASDAQ OSUR) traded down $0.35 during midday trading on Friday, hitting $16.68. 733,500 shares of the stock traded hands, compared to its average volume of 897,788. OraSure Technologies has a 1-year low of $8.39 and a 1-year high of $23.01. The firm has a market capitalization of $1,010.00, a price-to-earnings ratio of 32.75, a price-to-earnings-growth ratio of 3.27 and a beta of 1.28.
OraSure Technologies (NASDAQ:OSUR) last announced its earnings results on Wednesday, November 1st. The medical instruments supplier reported $0.09 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.09. OraSure Technologies had a net margin of 20.48% and a return on equity of 14.12%. The business had revenue of $42.30 million for the quarter, compared to analyst estimates of $40.87 million. During the same quarter last year, the business earned $0.11 earnings per share. The company’s revenue for the quarter was up 31.0% compared to the same quarter last year. analysts predict that OraSure Technologies will post 0.42 earnings per share for the current fiscal year.
In other news, CEO Douglas A. Michels sold 22,923 shares of the firm’s stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $23.00, for a total value of $527,229.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Mara G. Aspinall purchased 5,000 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The stock was acquired at an average cost of $14.23 per share, for a total transaction of $71,150.00. Following the completion of the purchase, the director now owns 5,000 shares of the company’s stock, valued at approximately $71,150. The disclosure for this purchase can be found here. Company insiders own 6.40% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Belpointe Asset Management LLC purchased a new position in OraSure Technologies during the third quarter worth about $315,000. Oppenheimer Asset Management Inc. purchased a new position in OraSure Technologies during the third quarter worth about $186,000. Pier Capital LLC purchased a new position in OraSure Technologies during the third quarter worth about $5,819,000. OxFORD Asset Management LLP purchased a new position in OraSure Technologies during the third quarter worth about $1,323,000. Finally, KBC Group NV raised its stake in OraSure Technologies by 80.5% during the third quarter. KBC Group NV now owns 88,502 shares of the medical instruments supplier’s stock worth $1,991,000 after purchasing an additional 39,469 shares during the period. 94.48% of the stock is currently owned by hedge funds and other institutional investors.
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About OraSure Technologies
OraSure Technologies, Inc (OraSure) is involved in the development, manufacture, marketing and sale of oral fluid diagnostic products and specimen collection devices using its technologies, as well as other diagnostic products, including immunoassays and other in vitro diagnostic tests that are used on other specimen types.
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