Zacks Investment Research Lowers OraSure Technologies (OSUR) to Sell

Zacks Investment Research downgraded shares of OraSure Technologies (NASDAQ:OSUR) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning.

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. “

OSUR has been the topic of several other reports. BidaskClub raised OraSure Technologies from a buy rating to a strong-buy rating in a report on Saturday, January 20th. ValuEngine raised OraSure Technologies from a hold rating to a buy rating in a report on Friday, March 2nd. Finally, Canaccord Genuity reaffirmed a buy rating and issued a $24.00 target price on shares of OraSure Technologies in a report on Friday, February 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. OraSure Technologies currently has an average rating of Hold and an average target price of $22.25.

Shares of OSUR stock opened at $17.18 on Wednesday. OraSure Technologies has a 12-month low of $12.43 and a 12-month high of $23.01. The stock has a market capitalization of $1,079.22, a PE ratio of 33.69, a PEG ratio of 4.93 and a beta of 1.65.

OraSure Technologies (NASDAQ:OSUR) last issued its earnings results on Wednesday, February 7th. The medical instruments supplier reported $0.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.01. OraSure Technologies had a return on equity of 13.09% and a net margin of 18.52%. The firm had revenue of $52.00 million for the quarter, compared to analysts’ expectations of $50.20 million. During the same period in the previous year, the firm posted $0.13 earnings per share. The business’s revenue was up 46.5% compared to the same quarter last year. research analysts anticipate that OraSure Technologies will post 0.29 EPS for the current fiscal year.

In related news, Director Stephen S. Phd Tang sold 23,333 shares of OraSure Technologies stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $17.97, for a total value of $419,294.01. Following the completion of the transaction, the director now owns 59,749 shares in the company, valued at $1,073,689.53. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Brian Smith sold 20,000 shares of OraSure Technologies stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $17.97, for a total value of $359,400.00. Following the completion of the transaction, the executive vice president now owns 28,075 shares of the company’s stock, valued at approximately $504,507.75. The disclosure for this sale can be found here. Company insiders own 2.90% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Elkfork Partners LLC purchased a new position in OraSure Technologies in the fourth quarter worth about $143,000. Shikiar Asset Management Inc. purchased a new position in OraSure Technologies in the fourth quarter worth about $207,000. AMP Capital Investors Ltd purchased a new position in OraSure Technologies in the fourth quarter worth about $294,000. Quadrant Private Wealth Management LLC purchased a new position in OraSure Technologies in the fourth quarter worth about $300,000. Finally, ETRADE Capital Management LLC grew its position in OraSure Technologies by 43.4% in the fourth quarter. ETRADE Capital Management LLC now owns 18,402 shares of the medical instruments supplier’s stock worth $347,000 after acquiring an additional 5,566 shares in the last quarter. Institutional investors own 92.86% of the company’s stock.

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OraSure Technologies Company Profile

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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