Evercore ISI Cuts OraSure Technologies (NASDAQ:OSUR) Price Target to $4.50

OraSure Technologies (NASDAQ:OSUR) had its price target decreased by stock analysts at Evercore ISI from $5.50 to $4.50 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “in-line” rating on the medical instruments supplier’s stock. Evercore ISI’s target price would indicate a potential upside of 7.66% from the stock’s previous close.

A number of other equities research analysts have also commented on OSUR. StockNews.com lowered shares of OraSure Technologies from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. JPMorgan Chase & Co. decreased their price objective on shares of OraSure Technologies from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Monday, May 13th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $6.13.

OraSure Technologies Stock Performance

Shares of OSUR stock traded down $0.09 during mid-day trading on Tuesday, reaching $4.18. The company’s stock had a trading volume of 68,765 shares, compared to its average volume of 1,067,770. OraSure Technologies has a 1-year low of $4.11 and a 1-year high of $8.45. The company has a market cap of $309.15 million, a P/E ratio of 13.97 and a beta of 0.09. The firm’s 50-day moving average is $4.85 and its two-hundred day moving average is $6.30.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of OSUR. Trexquant Investment LP grew its holdings in shares of OraSure Technologies by 3.3% during the third quarter. Trexquant Investment LP now owns 64,644 shares of the medical instruments supplier’s stock worth $383,000 after purchasing an additional 2,049 shares during the last quarter. Diversified Trust Co lifted its stake in OraSure Technologies by 17.7% in the fourth quarter. Diversified Trust Co now owns 16,031 shares of the medical instruments supplier’s stock valued at $131,000 after buying an additional 2,406 shares during the period. Tocqueville Asset Management L.P. lifted its stake in OraSure Technologies by 20.0% in 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 buying an additional 2,512 shares during the period. AJOVista LLC acquired a new position in OraSure Technologies in the fourth quarter valued at approximately $39,000. Finally, Lazard Asset Management LLC raised its position in shares of OraSure Technologies by 12.9% during the first quarter. Lazard Asset Management LLC now owns 56,908 shares of the medical instruments supplier’s stock worth $349,000 after purchasing an additional 6,500 shares during the period. Institutional investors 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.