OraSure Technologies (NASDAQ:OSUR) Downgraded by StockNews.com to “Hold”

StockNews.com cut shares of OraSure Technologies (NASDAQ:OSUR) from a buy rating to a hold rating in a report published on Tuesday morning.

OraSure Technologies Trading Down 5.1 %

NASDAQ:OSUR opened at $3.90 on Tuesday. The stock has a market capitalization of $290.83 million, a PE ratio of 25.99 and a beta of 0.05. OraSure Technologies has a 1-year low of $3.52 and a 1-year high of $8.04. The firm has a fifty day simple moving average of $3.80 and a 200 day simple moving average of $4.08.

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

Institutional Trading of OraSure Technologies

A number of hedge funds have recently made changes to their positions in the business. Millennium Management LLC lifted its holdings in OraSure Technologies by 727.5% during the 2nd quarter. Millennium Management LLC now owns 2,021,126 shares of the medical instruments supplier’s stock valued at $8,610,000 after purchasing an additional 1,776,867 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of OraSure Technologies by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,797,814 shares of the medical instruments supplier’s stock worth $7,678,000 after buying an additional 32,929 shares during the last quarter. Systematic Financial Management LP boosted its holdings in shares of OraSure Technologies by 14.9% during the 3rd quarter. Systematic Financial Management LP now owns 1,252,112 shares of the medical instruments supplier’s stock worth $5,347,000 after buying an additional 162,364 shares during the period. BNP Paribas Financial Markets grew its stake in OraSure Technologies by 27.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 855,951 shares of the medical instruments supplier’s stock valued at $3,655,000 after buying an additional 183,191 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in OraSure Technologies by 5.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 847,933 shares of the medical instruments supplier’s stock valued at $3,621,000 after acquiring an additional 46,216 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

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.