OraSure Technologies (OSUR) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of OraSure Technologies (NASDAQ:OSUR) from a strong-buy rating to a hold rating in a research report released 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 subject of several other reports. BidaskClub raised OraSure Technologies from a strong sell rating to a sell rating in a research report on Wednesday, October 24th. Raymond James reissued a mkt perform rating on shares of OraSure Technologies in a research report on Tuesday, October 23rd. Stephens lowered OraSure Technologies from an overweight rating to an equal weight rating in a research report on Monday, July 16th. TheStreet raised OraSure Technologies from a c+ rating to a b rating in a research report on Thursday, August 9th. Finally, ValuEngine raised OraSure Technologies from a hold rating to a buy rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The company has an average rating of Hold and a consensus price target of $20.50.

Shares of OSUR stock traded down $0.19 during mid-day trading on Wednesday, hitting $13.01. The company’s stock had a trading volume of 796,704 shares, compared to its average volume of 550,183. OraSure Technologies has a 52 week low of $12.50 and a 52 week high of $22.22. The firm has a market cap of $900.47 million, a PE ratio of 25.51, a price-to-earnings-growth ratio of 3.46 and a beta of 1.52.

OraSure Technologies (NASDAQ:OSUR) last posted its quarterly earnings data on Wednesday, November 7th. The medical instruments supplier reported $0.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.02. OraSure Technologies had a return on equity of 6.68% and a net margin of 9.49%. The firm had revenue of $45.90 million during the quarter, compared to analyst estimates of $44.50 million. During the same period last year, the company posted $0.09 EPS. The business’s quarterly revenue was up 8.5% on a year-over-year basis. On average, equities analysts forecast that OraSure Technologies will post 0.34 earnings per share for the current year.

In other news, Director Charles W. Patrick sold 8,000 shares of OraSure Technologies stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $16.29, for a total value of $130,320.00. Following the completion of the transaction, the director now directly owns 54,298 shares of the company’s stock, valued at approximately $884,514.42. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.90% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. increased its position in OraSure Technologies by 3.3% in the 1st quarter. Principal Financial Group Inc. now owns 491,188 shares of the medical instruments supplier’s stock valued at $8,296,000 after buying an additional 15,717 shares in the last quarter. SG Americas Securities LLC increased its position in OraSure Technologies by 155.1% in the 2nd quarter. SG Americas Securities LLC now owns 17,091 shares of the medical instruments supplier’s stock valued at $281,000 after buying an additional 10,390 shares in the last quarter. Macquarie Group Ltd. increased its position in OraSure Technologies by 17.5% in the 2nd quarter. Macquarie Group Ltd. now owns 93,701 shares of the medical instruments supplier’s stock valued at $1,543,000 after buying an additional 13,986 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its position in OraSure Technologies by 196.4% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 49,063 shares of the medical instruments supplier’s stock valued at $808,000 after buying an additional 32,511 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in OraSure Technologies in the 1st quarter valued at about $139,000. 92.00% of the stock is owned by institutional investors and hedge funds.

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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