OraSure Technologies (NASDAQ:OSUR) Announces Quarterly Earnings Results

OraSure Technologies (NASDAQ:OSUR) released its quarterly earnings results on Wednesday. The medical instruments supplier reported $0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.04, Briefing.com reports. The company had revenue of $54.10 million during the quarter, compared to analysts’ expectations of $52.27 million. OraSure Technologies had a return on equity of 14.50% and a net margin of 13.23%. The business’s revenue for the quarter was down 65.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.37 earnings per share. OraSure Technologies updated its Q2 2024 guidance to EPS.

OraSure Technologies Stock Down 5.0 %

Shares of OSUR opened at $5.05 on Friday. OraSure Technologies has a fifty-two week low of $4.38 and a fifty-two week high of $8.45. The company’s fifty day moving average is $6.03 and its two-hundred day moving average is $6.79. The firm has a market cap of $385.99 million, a PE ratio of 7.01 and a beta of 0.23.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on OSUR shares. StockNews.com lowered shares of OraSure Technologies from a “buy” rating to a “hold” rating in a report on Thursday. Evercore ISI lowered their target price on shares of OraSure Technologies from $7.00 to $6.50 and set an “in-line” rating for the company in a research note on Thursday, April 4th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $6.38.

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.