OraSure Technologies, Inc. (OSUR) Stock Rating Upgraded by Zacks Investment Research
OraSure Technologies, Inc. (NASDAQ:OSUR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage presently has a $25.00 target price on the medical instruments supplier’s stock. Zacks Investment Research‘s price target points to a potential upside of 14.63% 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 analysts have also issued reports on OSUR. Jefferies Group LLC restated a “buy” rating and set a $20.00 target price on shares of OraSure Technologies in a research report on Tuesday, September 12th. Canaccord Genuity restated a “buy” rating and set a $22.00 target price on shares of OraSure Technologies in a research report on Tuesday. BidaskClub lowered shares of OraSure Technologies from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Finally, Stephens reiterated an “overweight” rating and issued a $19.00 price target (up previously from $14.00) on shares of OraSure Technologies in a report on Tuesday, July 11th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. OraSure Technologies has a consensus rating of “Buy” and a consensus target price of $18.04.
Shares of OraSure Technologies (NASDAQ OSUR) opened at 21.81 on Wednesday. OraSure Technologies has a 52-week low of $7.09 and a 52-week high of $22.25. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 40.31 and a beta of 1.57. The stock’s 50 day moving average is $20.72 and its 200 day moving average is $16.18.
OraSure Technologies (NASDAQ:OSUR) last announced its earnings results on Wednesday, August 2nd. The medical instruments supplier reported $0.09 earnings per share (EPS) 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 quarter last year, the business earned $0.07 earnings per share. OraSure Technologies’s revenue was up 28.1% compared to the same quarter last year. On average, equities analysts expect that OraSure Technologies will post $0.48 earnings per share for the current fiscal year.
COPYRIGHT VIOLATION WARNING: This piece was published by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another website, it was illegally copied and reposted in violation of international trademark & copyright legislation. The correct version of this piece can be accessed at https://www.americanbankingnews.com/2017/09/20/orasure-technologies-inc-osur-stock-rating-upgraded-by-zacks-investment-research.html.
In other OraSure Technologies news, CEO Douglas A. Michels sold 290,495 shares of OraSure Technologies stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $16.75, for a total value of $4,865,791.25. Following the transaction, the chief executive officer now owns 894,012 shares in the company, valued at approximately $14,974,701. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Ronald H. Spair sold 510,112 shares of OraSure Technologies stock in a transaction on Monday, August 7th. The shares were sold at an average price of $20.66, for a total transaction of $10,538,913.92. Following the completion of the transaction, the chief financial officer now owns 208,606 shares in the company, valued at approximately $4,309,799.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 960,173 shares of company stock worth $18,752,210. 6.40% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its holdings in shares of OraSure Technologies by 127,593.4% in the 1st quarter. BlackRock Inc. now owns 7,743,325 shares of the medical instruments supplier’s stock valued at $100,123,000 after purchasing an additional 7,737,261 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of OraSure Technologies by 19.8% in the 2nd quarter. Vanguard Group Inc. now owns 5,352,832 shares of the medical instruments supplier’s stock valued at $92,390,000 after purchasing an additional 886,333 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of OraSure Technologies by 22.3% in the 1st quarter. Renaissance Technologies LLC now owns 5,132,003 shares of the medical instruments supplier’s stock valued at $66,357,000 after purchasing an additional 934,700 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of OraSure Technologies by 5.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,057,690 shares of the medical instruments supplier’s stock valued at $52,777,000 after purchasing an additional 167,642 shares during the last quarter. Finally, Daruma Capital Management LLC boosted its holdings in shares of OraSure Technologies by 2,761.0% in the 2nd quarter. Daruma Capital Management LLC now owns 2,821,506 shares of the medical instruments supplier’s stock valued at $48,699,000 after purchasing an additional 2,722,886 shares during the last quarter. Institutional investors own 92.10% 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for OraSure Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OraSure Technologies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.