StockNews.com Upgrades OraSure Technologies (NASDAQ:OSUR) to “Buy”

StockNews.com upgraded shares of OraSure Technologies (NASDAQ:OSUR) from a hold rating to a buy rating in a research report released on Wednesday.

OraSure Technologies Trading Down 2.3 %

OSUR stock opened at $3.82 on Wednesday. The firm has a 50 day moving average of $3.81 and a 200-day moving average of $4.07. OraSure Technologies has a 12 month low of $3.52 and a 12 month high of $8.04. The firm has a market capitalization of $284.95 million, a P/E ratio of 25.47 and a beta of 0.05.

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Principal Financial Group Inc. increased its stake in shares of OraSure Technologies by 10.7% in the fourth quarter. Principal Financial Group Inc. now owns 73,137 shares of the medical instruments supplier’s stock worth $264,000 after buying an additional 7,077 shares during the period. Koss Olinger Consulting LLC increased its stake in shares of OraSure Technologies by 9.4% in the third quarter. Koss Olinger Consulting LLC now owns 83,977 shares of the medical instruments supplier’s stock worth $359,000 after buying an additional 7,247 shares during the period. Raymond James Financial Inc. purchased a new position in shares of OraSure Technologies in the fourth quarter worth $37,000. Atom Investors LP purchased a new position in shares of OraSure Technologies in the third quarter worth $49,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of OraSure Technologies by 78.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 28,731 shares of the medical instruments supplier’s stock worth $123,000 after buying an additional 12,604 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

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.