OraSure Technologies, Inc. (OSUR) Cut to Hold at Zacks Investment Research
OraSure Technologies, Inc. (NASDAQ:OSUR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.
According to Zacks, “OraSure Technologies, Inc. is the market leader for oral fluid diagnostics. The Company develops, manufactures, and markets medical devices and diagnostic products for use by insurance companies, public health agencies, clinical laboratories, physicians’ offices, and workplace sites. “
A number of other brokerages have also weighed in on OSUR. Stephens reaffirmed an “overweight” rating and issued a $19.00 price target (up from $14.00) on shares of OraSure Technologies in a research note on Tuesday, July 11th. BidaskClub lowered shares of OraSure Technologies from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Jefferies Group LLC raised their price target on shares of OraSure Technologies from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, June 28th. Finally, Canaccord Genuity raised their price target on shares of OraSure Technologies from $15.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, June 28th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $16.32.
Shares of OraSure Technologies (NASDAQ OSUR) traded down 0.23% during midday trading on Friday, hitting $21.60. The stock had a trading volume of 324,237 shares. The stock has a market cap of $1.28 billion, a PE ratio of 39.93 and a beta of 1.57. OraSure Technologies has a 52-week low of $7.09 and a 52-week high of $21.84. The firm has a 50 day moving average price of $19.94 and a 200-day moving average price of $15.58.
OraSure Technologies (NASDAQ:OSUR) last issued its quarterly earnings results on Wednesday, August 2nd. The medical instruments supplier reported $0.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.02. The firm had revenue of $40.18 million for the quarter, compared to analyst estimates of $36.54 million. OraSure Technologies had a net margin of 22.29% and a return on equity of 15.64%. OraSure Technologies’s quarterly revenue was up 28.1% compared to the same quarter last year. During the same period last year, the company posted $0.07 EPS. Equities analysts predict that OraSure Technologies will post $0.48 EPS for the current fiscal year.
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In other OraSure Technologies news, CFO Ronald H. Spair sold 510,112 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $20.66, for a total value of $10,538,913.92. Following the completion of the sale, the chief financial officer now owns 208,606 shares in the company, valued at approximately $4,309,799.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Anthony Zezzo II sold 72,916 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $21.26, for a total transaction of $1,550,194.16. Following the completion of the sale, the executive vice president now owns 218,326 shares of the company’s stock, valued at approximately $4,641,610.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 960,173 shares of company stock valued at $18,752,210. 6.40% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. USA Financial Portformulas Corp raised its holdings in OraSure Technologies by 31.0% in the 2nd quarter. USA Financial Portformulas Corp now owns 56,653 shares of the medical instruments supplier’s stock valued at $978,000 after acquiring an additional 13,421 shares during the last quarter. Advisory Services Network LLC raised its holdings in OraSure Technologies by 1,419.2% in the 2nd quarter. Advisory Services Network LLC now owns 12,913 shares of the medical instruments supplier’s stock valued at $223,000 after acquiring an additional 12,063 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in OraSure Technologies in the 2nd quarter valued at about $5,119,000. Koch Industries Inc. acquired a new stake in OraSure Technologies in the 2nd quarter valued at about $216,000. Finally, Piedmont Investment Advisors LLC acquired a new stake in OraSure Technologies in the 2nd quarter valued at about $216,000. Institutional investors own 92.12% of the company’s stock.
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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