AXQ Capital LP Takes Position in OraSure Technologies, Inc. (NASDAQ:OSUR)

AXQ Capital LP purchased a new stake in OraSure Technologies, Inc. (NASDAQ:OSUR) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 14,137 shares of the medical instruments supplier’s stock, valued at approximately $51,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in OSUR. BNP Paribas Financial Markets grew its position in shares of OraSure Technologies by 27.2% in the third quarter. BNP Paribas Financial Markets now owns 855,951 shares of the medical instruments supplier’s stock valued at $3,655,000 after purchasing an additional 183,191 shares during the period. Principal Financial Group Inc. boosted its holdings in OraSure Technologies by 10.7% in the 4th quarter. Principal Financial Group Inc. now owns 73,137 shares of the medical instruments supplier’s stock worth $264,000 after buying an additional 7,077 shares during the last quarter. Franklin Resources Inc. increased its stake in OraSure Technologies by 28.5% during the 3rd quarter. Franklin Resources Inc. now owns 269,269 shares of the medical instruments supplier’s stock worth $1,091,000 after buying an additional 59,723 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of OraSure Technologies by 5.8% during the third quarter. JPMorgan Chase & Co. now owns 847,933 shares of the medical instruments supplier’s stock valued at $3,621,000 after acquiring an additional 46,216 shares during the last quarter. Finally, Barclays PLC lifted its position in shares of OraSure Technologies by 182.6% in the third quarter. Barclays PLC now owns 195,793 shares of the medical instruments supplier’s stock valued at $836,000 after acquiring an additional 126,503 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Kenneth J. Mcgrath bought 64,000 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was acquired at an average cost of $3.15 per share, with a total value of $201,600.00. Following the purchase, the chief financial officer now directly owns 371,013 shares of the company’s stock, valued at $1,168,690.95. The trade was a 20.85 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John P. Kenny purchased 47,659 shares of the stock in a transaction dated Thursday, February 27th. The shares were purchased at an average cost of $3.17 per share, for a total transaction of $151,079.03. Following the transaction, the director now owns 70,915 shares in the company, valued at approximately $224,800.55. The trade was a 204.93 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 190,284 shares of company stock valued at $600,348 in the last ninety days. 3.40% of the stock is currently owned by corporate insiders.

OraSure Technologies Trading Up 6.4 %

NASDAQ:OSUR opened at $3.66 on Tuesday. OraSure Technologies, Inc. has a twelve month low of $2.69 and a twelve month high of $6.38. The company has a market cap of $273.77 million, a P/E ratio of 24.40 and a beta of -0.02. The company’s 50-day moving average price is $3.71 and its 200-day moving average price is $3.90.

OraSure Technologies declared that its board has authorized a stock repurchase plan on Monday, March 24th that permits the company to repurchase $40.00 million in outstanding shares. This repurchase authorization permits the medical instruments supplier to purchase up to 15.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut OraSure Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th.

OraSure Technologies Company Profile

OraSure Technologies, Inc, together with its subsidiaries, provides point-of-care and home diagnostic tests, specimen collection devices, and microbiome laboratory and analytical services in the United States, Europe, and internationally. The company’s products include InteliSwab COVID-19 rapid test, InteliSwab COVID-19 rapid test pro, InteliSwab COVID-19 rapid test rx, OraQuick Rapid HIV test, OraQuick In-Home HIV test, OraQuick HIV self-test, OraQuick HCV rapid antibody test, OraQuick Ebola rapid antigen test, OraSure oral fluid collection device used in conjunction with screening and confirmatory tests for HIV-1 antibodies; Intercept drug testing systems; immunoassay tests and reagents; and Q.E.D.