OraSure Technologies (NASDAQ:OSUR) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of OraSure Technologies (NASDAQ:OSUR) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning.

OraSure Technologies Stock Down 0.5 %

Shares of OraSure Technologies stock opened at $3.99 on Wednesday. The business has a fifty day simple moving average of $3.81 and a 200 day simple moving average of $4.07. The stock has a market cap of $297.61 million, a PE ratio of 26.60 and a beta of 0.05. OraSure Technologies has a 12 month low of $3.52 and a 12 month high of $8.04.

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

Hedge Funds Weigh In On OraSure Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the company. Atom Investors LP bought a new position in OraSure Technologies during the third quarter worth about $49,000. Creative Planning bought a new position in shares of OraSure Technologies during the 3rd quarter valued at about $54,000. US Bancorp DE grew its position in shares of OraSure Technologies by 310.4% in the 4th quarter. US Bancorp DE now owns 19,433 shares of the medical instruments supplier’s stock valued at $70,000 after purchasing an additional 14,698 shares during the period. Mackenzie Financial Corp acquired a new stake in OraSure Technologies during the 2nd quarter worth approximately $72,000. Finally, Intech Investment Management LLC bought a new position in OraSure Technologies in the third quarter valued at approximately $84,000. Institutional investors and hedge funds 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.