OraSure Technologies (OSUR) Rating Increased to Hold at Zacks Investment Research
OraSure Technologies (NASDAQ:OSUR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Saturday.
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 a number of other research reports. Jefferies Group reaffirmed a “buy” rating and set a $20.00 target price on shares of OraSure Technologies in a report on Tuesday, September 12th. Canaccord Genuity reaffirmed a “buy” rating and set a $22.00 target price on shares of OraSure Technologies in a report on Tuesday, September 19th. BidaskClub raised shares of OraSure Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, December 21st. Finally, ValuEngine cut shares of OraSure Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $19.65.
OraSure Technologies (NASDAQ:OSUR) last released its earnings results on Wednesday, November 1st. The medical instruments supplier reported $0.09 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.09. OraSure Technologies had a net margin of 20.48% and a return on equity of 14.12%. The firm had revenue of $42.30 million for the quarter, compared to analysts’ expectations of $40.87 million. During the same period in the previous year, the company earned $0.11 earnings per share. The company’s quarterly revenue was up 31.0% on a year-over-year basis. analysts forecast that OraSure Technologies will post 0.42 EPS for the current fiscal year.
In other OraSure Technologies news, Director Mara G. Aspinall purchased 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The stock was bought at an average cost of $14.23 per share, for a total transaction of $71,150.00. Following the purchase, the director now directly owns 5,000 shares in the company, valued at $71,150. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Douglas A. Michels sold 22,923 shares of the stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $23.00, for a total transaction of $527,229.00. The disclosure for this sale can be found here. 6.40% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of the stock. Pinebridge Investments L.P. bought a new stake in OraSure Technologies during the 2nd quarter valued at about $131,000. Oppenheimer Asset Management Inc. bought a new stake in OraSure Technologies during the 3rd quarter valued at about $186,000. Victory Capital Management Inc. increased its stake in OraSure Technologies by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 9,070 shares of the medical instruments supplier’s stock valued at $157,000 after purchasing an additional 1,360 shares in the last quarter. ARP Americas LLC bought a new stake in OraSure Technologies during the 3rd quarter valued at about $221,000. Finally, Noesis Capital Mangement Corp bought a new stake in OraSure Technologies during the 3rd quarter valued at about $225,000. Institutional investors own 94.43% of the company’s stock.
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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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