Zacks Investment Research Downgrades OraSure Technologies, Inc. (OSUR) to Hold
OraSure Technologies, Inc. (NASDAQ:OSUR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Saturday.
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. “
Several other equities analysts also recently commented on the company. ValuEngine downgraded OraSure Technologies from a “buy” rating to a “hold” rating in a research report on Thursday. Jefferies Group LLC downgraded OraSure Technologies from a “buy” rating to a “hold” rating in a research report on Thursday. Canaccord Genuity restated a “buy” rating and issued a $22.00 price objective on shares of OraSure Technologies in a research report on Tuesday, September 19th. BidaskClub cut OraSure Technologies from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, Stephens reaffirmed an “overweight” rating and issued a $19.00 target price (up from $14.00) on shares of OraSure Technologies in a report on Tuesday, July 11th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. OraSure Technologies presently has an average rating of “Buy” and a consensus price target of $18.21.
OraSure Technologies (OSUR) traded up $1.06 during midday trading on Friday, reaching $14.82. The company had a trading volume of 2,080,000 shares, compared to its average volume of 979,858. The stock has a market capitalization of $881.19 million, a P/E ratio of 26.46, a PEG ratio of 2.06 and a beta of 1.39. OraSure Technologies has a 12 month low of $7.09 and a 12 month high of $23.01.
OraSure Technologies (NASDAQ:OSUR) last released its earnings results on Wednesday, November 1st. The medical instruments supplier reported $0.09 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.09. The company had revenue of $42.30 million for the quarter, compared to the consensus estimate of $40.87 million. OraSure Technologies had a return on equity of 14.12% and a net margin of 20.48%. OraSure Technologies’s quarterly revenue was up 31.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.11 earnings per share. research analysts anticipate that OraSure Technologies will post 0.42 EPS for the current year.
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In other news, CEO Douglas A. Michels sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $22.55, for a total transaction of $563,750.00. Following the transaction, the chief executive officer now owns 743,058 shares of the company’s stock, valued at $16,755,957.90. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Brian Smith sold 3,075 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $21.09, for a total value of $64,851.75. Following the transaction, the insider now directly owns 24,540 shares in the company, valued at approximately $517,548.60. The disclosure for this sale can be found here. Insiders have sold 717,601 shares of company stock worth $14,977,398 over the last three months. 6.40% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its stake in shares of OraSure Technologies by 127,593.4% during the first quarter. BlackRock Inc. now owns 7,743,325 shares of the medical instruments supplier’s stock valued at $100,123,000 after buying 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 second 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 period. Dimensional Fund Advisors LP boosted its holdings in shares of OraSure Technologies by 5.8% in the second 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 period. Daruma Capital Management LLC boosted its holdings in shares of OraSure Technologies by 2,761.0% in the second 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 period. Finally, Acadian Asset Management LLC boosted its holdings in shares of OraSure Technologies by 32.5% in the second quarter. Acadian Asset Management LLC now owns 1,846,854 shares of the medical instruments supplier’s stock valued at $31,877,000 after purchasing an additional 452,642 shares during the period. 92.88% of the stock is currently owned by hedge funds and other 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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