Bank of America Corp DE increased its stake in OraSure Technologies, Inc. (NASDAQ:OSUR) by 81.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 230,906 shares of the medical instruments supplier’s stock after acquiring an additional 103,765 shares during the period. Bank of America Corp DE owned about 0.38% of OraSure Technologies worth $3,804,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in OSUR. Cubist Systematic Strategies LLC purchased a new position in OraSure Technologies in the first quarter worth $139,000. Engineers Gate Manager LP purchased a new position in OraSure Technologies in the second quarter worth $197,000. Xact Kapitalforvaltning AB purchased a new position in OraSure Technologies in the second quarter worth $198,000. Dynamic Technology Lab Private Ltd purchased a new position in OraSure Technologies in the first quarter worth $205,000. Finally, BlueMountain Capital Management LLC purchased a new position in OraSure Technologies in the second quarter worth $209,000. Institutional investors own 92.15% of the company’s stock.
OraSure Technologies stock opened at $14.00 on Friday. The firm has a market capitalization of $850.92 million, a price-to-earnings ratio of 27.45, a price-to-earnings-growth ratio of 3.27 and a beta of 1.53. OraSure Technologies, Inc. has a twelve month low of $12.86 and a twelve month high of $22.22.
OraSure Technologies (NASDAQ:OSUR) last posted its quarterly earnings results on Wednesday, August 8th. The medical instruments supplier reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.03. The business had revenue of $43.60 million during the quarter, compared to the consensus estimate of $42.24 million. OraSure Technologies had a net margin of 8.38% and a return on equity of 5.85%. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.09 earnings per share. On average, equities analysts anticipate that OraSure Technologies, Inc. will post 0.34 EPS for the current fiscal year.
Several research analysts recently issued reports on the stock. BidaskClub upgraded shares of OraSure Technologies from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 24th. Zacks Investment Research lowered shares of OraSure Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, August 7th. Raymond James reiterated a “mkt perform” rating on shares of OraSure Technologies in a research report on Tuesday, October 23rd. ValuEngine upgraded shares of OraSure Technologies from a “hold” rating to a “buy” rating in a research report on Friday, July 6th. Finally, Stephens lowered shares of OraSure Technologies from an “overweight” rating to an “equal weight” rating in a research report on Monday, July 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $20.50.
In other OraSure Technologies news, Director Charles W. Patrick sold 8,000 shares of the business’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $16.29, for a total value of $130,320.00. Following the completion of the sale, the director now directly owns 54,298 shares of the company’s stock, valued at $884,514.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.90% of the company’s stock.
About OraSure Technologies
OraSure Technologies, Inc, together with its subsidiaries, develops, manufactures, markets, and sells oral fluid diagnostic products and specimen collection devices in the United States, Europe, and internationally. It operates in two segments, OSUR and DNAG. The company also offers other diagnostic products, such as immunoassays and other in vitro diagnostic tests.
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