OraSure Technologies (NASDAQ:OSUR) Price Target Cut to $6.50

OraSure Technologies (NASDAQ:OSUR) had its price objective dropped by investment analysts at Evercore ISI from $7.00 to $6.50 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “in-line” rating on the medical instruments supplier’s stock. Evercore ISI’s price target indicates a potential upside of 9.06% from the stock’s current price.

Separately, Citigroup increased their price target on OraSure Technologies from $7.00 to $9.00 and gave the stock a “buy” rating in a report on Monday, December 11th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, OraSure Technologies currently has an average rating of “Hold” and a consensus price target of $6.38.

OraSure Technologies Price Performance

Shares of NASDAQ OSUR opened at $5.96 on Thursday. The stock has a fifty day moving average price of $6.86 and a 200 day moving average price of $6.82. OraSure Technologies has a 1-year low of $4.38 and a 1-year high of $8.45. The company has a market cap of $456.00 million, a PE ratio of 8.28 and a beta of 0.15.

OraSure Technologies (NASDAQ:OSUR) last issued its quarterly earnings results on Tuesday, February 27th. The medical instruments supplier reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.09. OraSure Technologies had a return on equity of 14.50% and a net margin of 13.23%. The firm had revenue of $75.88 million during the quarter, compared to the consensus estimate of $74.13 million. During the same period last year, the company earned $0.21 earnings per share. The company’s revenue for the quarter was down 38.3% on a year-over-year basis. Analysts anticipate that OraSure Technologies will post -0.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On OraSure Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of OSUR. FMR LLC lifted its holdings in OraSure Technologies by 249.6% in the second quarter. FMR LLC now owns 10,687 shares of the medical instruments supplier’s stock valued at $29,000 after acquiring an additional 7,630 shares during the period. AJOVista LLC acquired a new position in shares of OraSure Technologies during the 4th quarter worth $39,000. 1832 Asset Management L.P. acquired a new position in shares of OraSure Technologies during the 1st quarter worth $40,000. UBS Group AG raised its stake in shares of OraSure Technologies by 82.3% during the 3rd quarter. UBS Group AG now owns 11,217 shares of the medical instruments supplier’s stock worth $42,000 after buying an additional 5,064 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of OraSure Technologies during the 3rd quarter worth $49,000. 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.