OraSure Technologies (NASDAQ:OSUR) Stock Rating Upgraded by StockNews.com

OraSure Technologies (NASDAQ:OSUR) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

Several other equities analysts also recently commented on the stock. JPMorgan Chase & Co. lowered their target price on shares of OraSure Technologies from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Monday, May 13th. Evercore ISI increased their target price on shares of OraSure Technologies from $4.50 to $5.00 and gave the stock an “in-line” rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $6.67.

OraSure Technologies Stock Performance

Shares of NASDAQ OSUR traded down $0.37 during mid-day trading on Friday, reaching $4.22. The company had a trading volume of 676,761 shares, compared to its average volume of 1,013,736. OraSure Technologies has a twelve month low of $3.91 and a twelve month high of $8.45. The stock has a market capitalization of $312.11 million, a PE ratio of 14.07 and a beta of 0.09. The stock’s 50 day moving average is $4.36 and its 200-day moving average is $5.59.

OraSure Technologies (NASDAQ:OSUR) last posted its quarterly earnings results on Wednesday, May 8th. The medical instruments supplier reported $0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.04. OraSure Technologies had a net margin of 7.50% and a return on equity of 7.68%. The business had revenue of $54.10 million for the quarter, compared to the consensus estimate of $52.27 million. During the same period in the prior year, the business posted $0.37 earnings per share. OraSure Technologies’s revenue for the quarter was down 65.1% compared to the same quarter last year. On average, sell-side analysts anticipate that OraSure Technologies will post -0.08 EPS for the current year.

Hedge Funds Weigh In On OraSure Technologies

Several hedge funds have recently bought and sold shares of OSUR. AJOVista LLC bought a new stake in OraSure Technologies during the fourth quarter valued at about $39,000. SG Americas Securities LLC bought a new stake in OraSure Technologies during the first quarter valued at about $72,000. Tocqueville Asset Management L.P. boosted its holdings in OraSure Technologies by 20.0% during the first quarter. Tocqueville Asset Management L.P. now owns 15,089 shares of the medical instruments supplier’s stock valued at $93,000 after acquiring an additional 2,512 shares during the period. Shikiar Asset Management Inc. bought a new stake in OraSure Technologies during the second quarter valued at about $96,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in OraSure Technologies during the fourth quarter valued at about $113,000. 93.50% of the stock is owned by institutional investors and hedge funds.

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.