Barclays PLC Sells 47,494 Shares of OraSure Technologies, Inc. (NASDAQ:OSUR)

Barclays PLC reduced its position in shares of OraSure Technologies, Inc. (NASDAQ:OSUR) by 24.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 148,299 shares of the medical instruments supplier’s stock after selling 47,494 shares during the period. Barclays PLC’s holdings in OraSure Technologies were worth $536,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in OSUR. Renaissance Technologies LLC increased its stake in shares of OraSure Technologies by 23.1% in the fourth quarter. Renaissance Technologies LLC now owns 2,774,443 shares of the medical instruments supplier’s stock worth $10,016,000 after buying an additional 521,400 shares during the period. Archon Capital Management LLC grew its holdings in OraSure Technologies by 145.1% in the fourth quarter. Archon Capital Management LLC now owns 827,777 shares of the medical instruments supplier’s stock worth $2,988,000 after purchasing an additional 490,034 shares during the period. Peapod Lane Capital LLC bought a new stake in OraSure Technologies in the fourth quarter worth $1,730,000. American Century Companies Inc. boosted its stake in OraSure Technologies by 11.4% in the 4th quarter. American Century Companies Inc. now owns 2,345,837 shares of the medical instruments supplier’s stock worth $8,468,000 after purchasing an additional 240,224 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of OraSure Technologies during the fourth quarter valued at $664,000. 93.50% of the stock is owned by institutional investors.

OraSure Technologies Stock Performance

OSUR stock opened at $2.61 on Friday. The business’s 50-day moving average is $3.17 and its two-hundred day moving average is $3.63. The company has a market cap of $201.86 million, a price-to-earnings ratio of 17.37 and a beta of 0.42. OraSure Technologies, Inc. has a fifty-two week low of $2.42 and a fifty-two week high of $5.55.

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

Insider Transactions at OraSure Technologies

In other news, CEO Manner Carrie Eglinton bought 78,625 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average price of $3.15 per share, for a total transaction of $247,668.75. Following the purchase, the chief executive officer now owns 1,259,664 shares in the company, valued at $3,967,941.60. This represents a 6.66 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director John P. Kenny acquired 47,659 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was acquired at an average cost of $3.17 per share, with a total value of $151,079.03. Following the purchase, the director now owns 70,915 shares of the company’s stock, valued at approximately $224,800.55. This trade represents a 204.93 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 190,284 shares of company stock worth $600,348 in the last quarter. Company insiders own 3.90% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of OraSure Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th.

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.