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

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

Separately, Evercore ISI cut their price target on shares of OraSure Technologies from $7.00 to $6.50 and set an in-line rating on the stock in a report on Thursday, April 4th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $6.38.

OraSure Technologies Price Performance

Shares of OSUR opened at $5.33 on Wednesday. The company’s fifty day moving average price is $6.24 and its 200-day moving average price is $6.80. OraSure Technologies has a 1-year low of $4.38 and a 1-year high of $8.45. The firm has a market capitalization of $407.80 million, a PE ratio of 7.40 and a beta of 0.15.

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

Hedge Funds Weigh In On OraSure Technologies

Several institutional investors and hedge funds have recently modified their holdings of OSUR. Vanguard Group Inc. raised its position in OraSure Technologies by 1.2% during the third quarter. Vanguard Group Inc. now owns 5,396,285 shares of the medical instruments supplier’s stock valued at $32,000,000 after acquiring an additional 64,367 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of OraSure Technologies by 8.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,906,687 shares of the medical instruments supplier’s stock valued at $32,035,000 after purchasing an additional 301,558 shares in the last quarter. Cannell Capital LLC lifted its stake in shares of OraSure Technologies by 25.8% in the 4th quarter. Cannell Capital LLC now owns 3,549,050 shares of the medical instruments supplier’s stock valued at $29,102,000 after purchasing an additional 728,459 shares during the period. Pacer Advisors Inc. boosted its holdings in OraSure Technologies by 122.5% during the fourth quarter. Pacer Advisors Inc. now owns 2,403,333 shares of the medical instruments supplier’s stock worth $19,707,000 after buying an additional 1,323,197 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in OraSure Technologies by 4.9% during the third quarter. Invesco Ltd. now owns 1,282,378 shares of the medical instruments supplier’s stock worth $7,605,000 after buying an additional 59,801 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

About OraSure Technologies

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.