Zacks Investment Research Upgrades OraSure Technologies, Inc. (OSUR) to “Buy”
OraSure Technologies, Inc. (NASDAQ:OSUR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Saturday. The brokerage presently has a $24.00 price objective on the medical instruments supplier’s stock. Zacks Investment Research‘s target price indicates a potential upside of 11.11% from the stock’s previous close.
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 equities research analysts have also weighed in on the stock. Canaccord Genuity boosted their target price on shares of OraSure Technologies from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, August 3rd. BidaskClub lowered shares of OraSure Technologies from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Stephens reissued an “overweight” rating and set a $19.00 target price (up from $14.00) on shares of OraSure Technologies in a report on Tuesday, July 11th. Finally, Jefferies Group LLC boosted their target price on shares of OraSure Technologies from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Wednesday, June 28th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $16.32.
OraSure Technologies (NASDAQ OSUR) opened at 21.60 on Friday. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 39.93 and a beta of 1.57. The company has a 50-day moving average of $19.94 and a 200 day moving average of $15.58. OraSure Technologies has a one year low of $7.09 and a one year high of $21.84.
OraSure Technologies (NASDAQ:OSUR) last posted its earnings results on Wednesday, August 2nd. The medical instruments supplier reported $0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.02. OraSure Technologies had a net margin of 22.29% and a return on equity of 15.64%. The firm had revenue of $40.18 million for the quarter, compared to analyst estimates of $36.54 million. During the same period in the previous year, the firm posted $0.07 EPS. The company’s revenue for the quarter was up 28.1% compared to the same quarter last year. On average, analysts anticipate that OraSure Technologies will post $0.48 EPS for the current year.
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In other news, CFO Ronald H. Spair sold 510,112 shares of the company’s stock in a transaction on 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 sale, the chief financial officer now directly owns 208,606 shares of the company’s stock, valued at approximately $4,309,799.96. The transaction 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 company’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $20.47, for a total transaction of $186,522.64. Following the completion of the sale, the insider now directly owns 32,477 shares in the company, valued at $664,804.19. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 960,173 shares of company stock worth $18,752,210. Insiders own 6.40% of the company’s stock.
Large investors have recently bought and sold shares of the company. First Mercantile Trust Co. bought a new stake in shares of OraSure Technologies in the 2nd quarter valued at $104,000. Pinebridge Investments L.P. bought a new stake in shares of OraSure Technologies in the 2nd quarter valued at $131,000. Victory Capital Management Inc. bought a new stake in shares of OraSure Technologies in the 1st quarter valued at $100,000. Profund Advisors LLC bought a new stake in shares of OraSure Technologies in the 1st quarter valued at $137,000. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of OraSure Technologies by 977.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 10,718 shares of the medical instruments supplier’s stock valued at $139,000 after purchasing an additional 9,723 shares during the last quarter. 92.12% of the stock is currently owned by institutional investors.
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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