OraSure Technologies, Inc. (OSUR) Expected to Post Quarterly Sales of $40.82 Million
Analysts expect that OraSure Technologies, Inc. (NASDAQ:OSUR) will post sales of $40.82 million for the current quarter, Zacks reports. 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 issue its next quarterly earnings report on Wednesday, November 1st.
On average, 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 fiscal year, analysts anticipate that the firm will report sales of $171.47 million per share, with estimates ranging from $170.00 million to $172.95 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover OraSure Technologies.
OraSure Technologies (NASDAQ:OSUR) last announced its quarterly earnings data 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. OraSure Technologies had a net margin of 22.29% and a return on equity of 15.64%. The business had revenue of $40.18 million during the quarter, compared to analyst estimates of $36.54 million. During the same period last year, the firm posted $0.07 EPS. The company’s revenue was up 28.1% on a year-over-year basis.
A number of analysts have recently commented on OSUR shares. Canaccord Genuity boosted their price objective on OraSure Technologies from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, June 28th. Jefferies Group LLC boosted their price objective on OraSure Technologies from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Wednesday, June 28th. Stephens restated an “overweight” rating and issued a $19.00 price objective (up from $14.00) on shares of OraSure Technologies in a research report on Tuesday, July 11th. BidaskClub cut OraSure Technologies from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Finally, Zacks Investment Research cut OraSure Technologies from a “buy” rating to a “hold” rating in a research report on Friday, September 8th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $18.04.
In related news, EVP Anthony Zezzo II sold 72,916 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was 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 directly owns 218,326 shares in the company, valued at $4,641,610.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jack E. Jerrett sold 73,463 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $20.77, for a total value of $1,525,826.51. Following the sale, the senior vice president now owns 81,593 shares of the company’s stock, valued at $1,694,686.61. The disclosure for this sale can be found here. Insiders have sold 669,678 shares of company stock valued at $13,886,419 over the last quarter. 6.40% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. First Mercantile Trust Co. purchased a new stake in shares of OraSure Technologies during the second quarter worth approximately $104,000. Pinebridge Investments L.P. purchased a new stake in shares of OraSure Technologies during the second quarter worth approximately $131,000. Victory Capital Management Inc. purchased a new stake in shares of OraSure Technologies during the first quarter worth approximately $100,000. Profund Advisors LLC purchased a new stake in shares of OraSure Technologies during the first quarter worth approximately $137,000. Finally, BNP Paribas Arbitrage SA increased its position in shares of OraSure Technologies by 977.2% during the first quarter. BNP Paribas Arbitrage SA now owns 10,718 shares of the medical instruments supplier’s stock worth $139,000 after purchasing an additional 9,723 shares in the last quarter. Hedge funds and other institutional investors own 92.10% of the company’s stock.
Shares of OraSure Technologies (NASDAQ:OSUR) opened at 22.14 on Tuesday. OraSure Technologies has a one year low of $7.09 and a one year high of $22.25. The firm’s 50-day moving average is $20.72 and its 200-day moving average is $16.18. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 40.92 and a beta of 1.57.
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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