Corient Private Wealth LLC Trims Stock Position in OraSure Technologies, Inc. (NASDAQ:OSUR)

Corient Private Wealth LLC decreased its stake in OraSure Technologies, Inc. (NASDAQ:OSUR) by 35.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 25,412 shares of the medical instruments supplier’s stock after selling 14,252 shares during the quarter. Corient Private Wealth LLC’s holdings in OraSure Technologies were worth $92,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in shares of OraSure Technologies in the fourth quarter valued at approximately $37,000. Atom Investors LP purchased a new stake in shares of OraSure Technologies during the third quarter worth about $49,000. US Bancorp DE increased its stake in shares of OraSure Technologies by 310.4% during the fourth quarter. US Bancorp DE now owns 19,433 shares of the medical instruments supplier’s stock worth $70,000 after purchasing an additional 14,698 shares in the last quarter. Aigen Investment Management LP acquired a new position in shares of OraSure Technologies during the 4th quarter worth about $76,000. Finally, Intech Investment Management LLC purchased a new position in OraSure Technologies in the 3rd quarter valued at about $84,000. 93.50% of the stock is owned by institutional investors and hedge funds.

OraSure Technologies Stock Performance

Shares of OSUR stock opened at $3.37 on Thursday. OraSure Technologies, Inc. has a fifty-two week low of $2.69 and a fifty-two week high of $6.35. The stock’s fifty day moving average is $3.66 and its two-hundred day moving average is $3.86. The firm has a market capitalization of $252.08 million, a P/E ratio of 22.47 and a beta of -0.02.

OraSure Technologies declared that its board has approved a stock repurchase program on Monday, March 24th that authorizes the company to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the medical instruments supplier to buy up to 15.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered OraSure Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th.

Insider Transactions at OraSure Technologies

In related news, CFO Kenneth J. Mcgrath purchased 64,000 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average price of $3.15 per share, with a total value of $201,600.00. Following the completion of the acquisition, the chief financial officer now owns 371,013 shares in the company, valued at $1,168,690.95. This trade represents a 20.85 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John P. Kenny acquired 47,659 shares of OraSure Technologies stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average price of $3.17 per share, for a total transaction of $151,079.03. Following the transaction, the director now owns 70,915 shares of the company’s stock, valued at $224,800.55. This represents a 204.93 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 190,284 shares of company stock valued at $600,348. Corporate insiders own 3.40% 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.