Zacks: Analysts Expect OraSure Technologies, Inc. (OSUR) Will Post Quarterly Sales of $40.82 Million
Wall Street analysts predict that OraSure Technologies, Inc. (NASDAQ:OSUR) will report $40.82 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for OraSure Technologies’ earnings, with the highest sales estimate coming in at $41.14 million and the lowest estimate coming in at $40.50 million. OraSure Technologies posted sales of $32.25 million during the same quarter last year, which suggests a positive year over year growth rate of 26.6%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, November 1st.
According to Zacks, analysts expect that OraSure Technologies will report full year sales of $40.82 million for the current financial year, with estimates ranging from $153.50 million to $154.88 million. For the next year, analysts expect that the company will post sales of $171.47 million per share, with estimates ranging from $170.00 million to $172.95 million. Zacks’ sales calculations are an average based on a survey of research firms that cover OraSure Technologies.
OraSure Technologies (NASDAQ:OSUR) last posted its quarterly earnings results on Wednesday, August 2nd. The medical instruments supplier reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. The company had revenue of $40.18 million for the quarter, compared to analyst estimates of $36.54 million. OraSure Technologies had a return on equity of 15.64% and a net margin of 22.29%. OraSure Technologies’s revenue for the quarter was up 28.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.07 EPS.
OSUR has been the subject of a number of research reports. Stephens reissued an “overweight” rating and set a $19.00 price target (up previously from $14.00) on shares of OraSure Technologies in a research report on Tuesday, July 11th. Canaccord Genuity boosted their price target on OraSure Technologies from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, June 28th. BidaskClub downgraded OraSure Technologies from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Jefferies Group LLC boosted their price target on OraSure Technologies from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Wednesday, June 28th. Finally, Zacks Investment Research downgraded OraSure Technologies from a “buy” rating to a “hold” rating in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $15.46.
In other OraSure Technologies news, CEO Douglas A. Michels sold 290,495 shares of the business’s stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $16.75, for a total transaction of $4,865,791.25. Following the transaction, the chief executive officer now owns 894,012 shares in the company, valued at $14,974,701. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Brian Smith sold 9,112 shares of the business’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $20.47, for a total value of $186,522.64. Following the transaction, the insider now owns 32,477 shares in the company, valued at approximately $664,804.19. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 960,173 shares of company stock worth $18,752,210. 6.40% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. acquired a new position in shares of OraSure Technologies during the first quarter worth about $100,000. First Mercantile Trust Co. acquired a new position in shares of OraSure Technologies during the second quarter worth about $104,000. Pinebridge Investments L.P. acquired a new position in shares of OraSure Technologies during the second quarter worth about $131,000. Private Advisor Group LLC lifted its stake in shares of OraSure Technologies by 7.1% in the first quarter. Private Advisor Group LLC now owns 10,923 shares of the medical instruments supplier’s stock worth $135,000 after acquiring an additional 723 shares in the last quarter. Finally, Profund Advisors LLC acquired a new position in shares of OraSure Technologies in the first quarter worth about $137,000. Institutional investors own 92.12% of the company’s stock.
OraSure Technologies (OSUR) traded down 0.65% during midday trading on Friday, reaching $21.51. The company’s stock had a trading volume of 53,596 shares. The company has a 50 day moving average of $19.84 and a 200-day moving average of $15.54. OraSure Technologies has a 1-year low of $7.09 and a 1-year high of $21.84. The company has a market capitalization of $1.28 billion, a P/E ratio of 39.76 and a beta of 1.57.
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About OraSure Technologies
OraSure Technologies, Inc (OraSure) is involved in the development, manufacture, marketing and sale of oral fluid diagnostic products and specimen collection devices using its technologies, as well as other diagnostic products, including immunoassays and other in vitro diagnostic tests that are used on other specimen types.
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