OraSure Technologies, Inc. (NASDAQ:OSUR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm currently has a $23.00 target price on the medical instruments supplier’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 12.91% from the company’s previous close.
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 analysts have also recently weighed in on OSUR. Canaccord Genuity raised their target price on shares of OraSure Technologies from $21.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $23.00 target price on shares of OraSure Technologies in a report on Friday, October 20th. BidaskClub cut shares of OraSure Technologies from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Finally, Stephens reissued an “overweight” rating and set a $19.00 price objective (up previously from $14.00) on shares of OraSure Technologies in a report on Tuesday, July 11th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $18.21.
Shares of OraSure Technologies (OSUR) opened at 20.37 on Wednesday. The firm’s 50-day moving average is $21.63 and its 200 day moving average is $17.96. The stock has a market cap of $1.21 billion, a P/E ratio of 37.65 and a beta of 1.55. OraSure Technologies has a 52-week low of $7.09 and a 52-week high of $23.01.
OraSure Technologies (NASDAQ:OSUR) last issued its earnings results on Wednesday, August 2nd. The medical instruments supplier reported $0.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.02. The firm had revenue of $40.18 million for the quarter, compared to analysts’ expectations of $36.54 million. OraSure Technologies had a net margin of 22.29% and a return on equity of 15.64%. The firm’s revenue was up 28.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.07 earnings per share. Analysts forecast that OraSure Technologies will post $0.48 earnings per share for the current fiscal year.
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In other news, CFO Ronald H. Spair sold 510,112 shares of OraSure Technologies stock in a transaction on Monday, August 7th. The shares were sold at an average price of $20.66, for a total value of $10,538,913.92. Following the transaction, the chief financial officer now directly owns 208,606 shares of the company’s stock, valued at approximately $4,309,799.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jack E. Jerrett sold 73,463 shares of OraSure Technologies stock in a transaction on Monday, August 7th. The shares were sold at an average price of $20.77, for a total transaction of $1,525,826.51. Following the completion of the transaction, the senior vice president now directly owns 81,593 shares in the company, valued at $1,694,686.61. The disclosure for this sale can be found here. In the last three months, insiders have sold 717,601 shares of company stock worth $14,977,398. 6.40% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the company. Federated Investors Inc. PA increased its holdings in shares of OraSure Technologies by 505.6% in the 2nd quarter. Federated Investors Inc. PA now owns 312,595 shares of the medical instruments supplier’s stock valued at $5,395,000 after acquiring an additional 260,977 shares during the period. Parametric Portfolio Associates LLC increased its holdings in shares of OraSure Technologies by 103.1% in the 1st quarter. Parametric Portfolio Associates LLC now owns 178,035 shares of the medical instruments supplier’s stock valued at $2,302,000 after acquiring an additional 90,361 shares during the period. Chicago Equity Partners LLC increased its holdings in shares of OraSure Technologies by 38.3% in the 2nd quarter. Chicago Equity Partners LLC now owns 78,430 shares of the medical instruments supplier’s stock valued at $1,354,000 after acquiring an additional 21,730 shares during the period. TIAA CREF Investment Management LLC increased its holdings in shares of OraSure Technologies by 3.6% in the 1st quarter. TIAA CREF Investment Management LLC now owns 549,875 shares of the medical instruments supplier’s stock valued at $7,110,000 after acquiring an additional 18,994 shares during the period. Finally, Eqis Capital Management Inc. acquired a new position in shares of OraSure Technologies in the 2nd quarter valued at $371,000. 92.95% of the stock is currently owned by institutional investors and hedge funds.
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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