OraSure Technologies (NASDAQ:OSUR) Cut to Hold at StockNews.com

StockNews.com lowered shares of OraSure Technologies (NASDAQ:OSUR) from a buy rating to a hold rating in a research note released on Tuesday morning.

OraSure Technologies Trading Up 1.8 %

Shares of OSUR stock opened at $3.31 on Tuesday. OraSure Technologies has a 12-month low of $2.68 and a 12-month high of $7.43. The stock has a market capitalization of $246.91 million, a P/E ratio of 22.07 and a beta of -0.02. The firm’s 50 day moving average is $3.75 and its 200 day moving average is $3.98.

Insider Activity at OraSure Technologies

In other OraSure Technologies news, CEO Manner Carrie Eglinton purchased 78,625 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were acquired at an average price of $3.15 per share, for a total transaction of $247,668.75. Following the purchase, the chief executive officer now directly owns 1,259,664 shares of the company’s stock, valued at $3,967,941.60. The trade was a 6.66 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John P. Kenny acquired 47,659 shares of OraSure Technologies stock in a transaction dated Thursday, February 27th. The stock was bought at an average price of $3.17 per share, with a total value of $151,079.03. Following the completion of the purchase, the director now directly owns 70,915 shares in the company, valued at $224,800.55. This represents a 204.93 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 190,284 shares of company stock worth $600,348. 3.40% of the stock is owned by insiders.

Institutional Investors Weigh In On OraSure Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OSUR. D. E. Shaw & Co. Inc. boosted its position in shares of OraSure Technologies by 180.5% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,517,541 shares of the medical instruments supplier’s stock worth $5,478,000 after purchasing an additional 976,475 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of OraSure Technologies by 23.1% in the fourth quarter. Renaissance Technologies LLC now owns 2,774,443 shares of the medical instruments supplier’s stock worth $10,016,000 after buying an additional 521,400 shares in the last quarter. Archon Capital Management LLC boosted its holdings in shares of OraSure Technologies by 145.1% during the 4th quarter. Archon Capital Management LLC now owns 827,777 shares of the medical instruments supplier’s stock valued at $2,988,000 after purchasing an additional 490,034 shares during the last quarter. Peapod Lane Capital LLC bought a new position in OraSure Technologies during the fourth quarter valued at approximately $1,730,000. Finally, Systematic Financial Management LP increased its stake in OraSure Technologies by 33.7% in the 4th quarter. Systematic Financial Management LP now owns 1,673,609 shares of the medical instruments supplier’s stock worth $6,042,000 after acquiring an additional 421,497 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

About OraSure Technologies

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.