OraSure Technologies (NASDAQ:OSUR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday. The firm currently has a $23.00 price objective on the medical instruments supplier’s stock. Zacks Investment Research‘s price target suggests a potential upside of 30.83% from the stock’s current price.
According to Zacks, “OraSure Technologies, Inc. develops, manufactures and markets oral fluid specimen collection devices using proprietary oral fluid technologies, diagnostic products including immunoassays and other in vitro diagnostic tests, and other medical devices. These products are sold in the United States as well as internationally to various clinical laboratories, hospitals, clinics, community-based organizations and other public health organizations, distributors, government agencies, physicians’ offices, and commercial and industrial entities. OraSure Technologies is the leading supplier of oral-fluid collection devices and in vitro diagnostic assays to the employment, criminal justice, drug treatment, life insurance and public health markets for the detection of abused drugs and the antibodies to HIV. Based in Bethlehem, Pennsylvania, the Company develops, manufactures and markets oral specimen collection devices, in vitro diagnostic tests, and other medical devices. “
A number of other equities research analysts have also recently weighed in on the company. Canaccord Genuity reaffirmed a “buy” rating and set a $24.00 price target on shares of OraSure Technologies in a report on Friday, February 2nd. BidaskClub raised OraSure Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 20th. ValuEngine cut OraSure Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Finally, Jefferies Group cut OraSure Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. OraSure Technologies has an average rating of “Buy” and a consensus price target of $20.05.
OraSure Technologies (NASDAQ:OSUR) last released its quarterly earnings results on Wednesday, February 7th. The medical instruments supplier reported $0.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.01. OraSure Technologies had a return on equity of 13.50% and a net margin of 18.52%. The firm had revenue of $52.00 million during the quarter, compared to analysts’ expectations of $50.20 million. During the same period last year, the firm posted $0.13 EPS. The business’s revenue was up 46.5% on a year-over-year basis. equities research analysts predict that OraSure Technologies will post 0.36 EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. acquired a new stake in shares of OraSure Technologies in the 3rd quarter valued at $186,000. Profund Advisors LLC increased its stake in shares of OraSure Technologies by 2.8% in the 2nd quarter. Profund Advisors LLC now owns 10,903 shares of the medical instruments supplier’s stock valued at $188,000 after buying an additional 293 shares during the period. Shikiar Asset Management Inc. acquired a new stake in shares of OraSure Technologies in the 4th quarter valued at $207,000. Koch Industries Inc. acquired a new stake in shares of OraSure Technologies in the 2nd quarter valued at $216,000. Finally, Piedmont Investment Advisors LLC acquired a new stake in shares of OraSure Technologies in the 2nd quarter valued at $216,000. 92.29% of the stock is owned by institutional investors.
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OraSure Technologies Company Profile
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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