OraSure Technologies (NASDAQ:OSUR) Rating Lowered to “Hold” at StockNews.com

OraSure Technologies (NASDAQ:OSUR) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

OraSure Technologies Trading Down 5.1 %

Shares of OraSure Technologies stock traded down $0.21 during trading on Tuesday, hitting $3.90. The stock had a trading volume of 1,390,887 shares, compared to its average volume of 829,787. The firm has a market cap of $290.83 million, a price-to-earnings ratio of 25.99 and a beta of 0.05. OraSure Technologies has a 12 month low of $3.52 and a 12 month high of $8.04. The business’s 50-day moving average is $3.80 and its 200 day moving average is $4.08.

OraSure Technologies (NASDAQ:OSUR) last released its quarterly earnings results on Wednesday, November 6th. The medical instruments supplier reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.02. OraSure Technologies had a return on equity of 3.55% and a net margin of 5.07%. The firm had revenue of $39.92 million for the quarter, compared to analysts’ expectations of $38.97 million. During the same quarter last year, the firm posted $0.27 EPS. The company’s revenue was down 55.2% compared to the same quarter last year. As a group, equities analysts expect that OraSure Technologies will post -0.08 EPS for the current year.

Institutional Investors Weigh In On OraSure Technologies

A number of hedge funds have recently made changes to their positions in the business. Sei Investments Co. lifted its stake in OraSure Technologies by 76.9% in the second quarter. Sei Investments Co. now owns 302,043 shares of the medical instruments supplier’s stock worth $1,287,000 after purchasing an additional 131,295 shares during the last quarter. Marshall Wace LLP purchased a new position in OraSure Technologies in the 2nd quarter worth approximately $203,000. Cubist Systematic Strategies LLC boosted its stake in shares of OraSure Technologies by 573.6% during the second quarter. Cubist Systematic Strategies LLC now owns 206,612 shares of the medical instruments supplier’s stock valued at $880,000 after purchasing an additional 175,937 shares during the period. Squarepoint Ops LLC grew its holdings in shares of OraSure Technologies by 1,348.5% in the second quarter. Squarepoint Ops LLC now owns 249,641 shares of the medical instruments supplier’s stock worth $1,063,000 after purchasing an additional 232,407 shares during the last quarter. Finally, AXA S.A. raised its holdings in OraSure Technologies by 2.5% during the 2nd quarter. AXA S.A. now owns 161,614 shares of the medical instruments supplier’s stock valued at $688,000 after buying an additional 3,997 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

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.