OraSure Technologies (NASDAQ:OSUR) Downgraded by StockNews.com to Sell

StockNews.com lowered shares of OraSure Technologies (NASDAQ:OSUR) from a hold rating to a sell rating in a research report report published on Friday morning.

OraSure Technologies Price Performance

Shares of OSUR opened at $2.51 on Friday. OraSure Technologies has a 1-year low of $2.42 and a 1-year high of $5.55. The stock has a market cap of $194.49 million, a PE ratio of 16.73 and a beta of 0.42. The firm has a fifty day moving average price of $3.16 and a 200 day moving average price of $3.62.

OraSure Technologies declared that its board has initiated a share repurchase program on Monday, March 24th that permits the company to buyback $40.00 million in outstanding shares. This buyback authorization permits the medical instruments supplier to buy up to 15.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other OraSure Technologies news, CFO Kenneth J. Mcgrath acquired 64,000 shares of the stock in a transaction on Thursday, February 27th. The shares were bought at an average cost of $3.15 per share, with a total value of $201,600.00. Following the transaction, the chief financial officer now owns 371,013 shares of the company’s stock, valued at approximately $1,168,690.95. This trade represents a 20.85 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John P. Kenny acquired 47,659 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was acquired at an average price of $3.17 per share, for a total transaction of $151,079.03. Following the completion of the purchase, the director now owns 70,915 shares of the company’s stock, valued at $224,800.55. This trade represents a 204.93 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 190,284 shares of company stock valued at $600,348 over the last quarter. Company insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On OraSure Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Gagnon Securities LLC acquired a new stake in OraSure Technologies during the 1st quarter worth approximately $3,619,000. Charles Schwab Investment Management Inc. raised its stake in shares of OraSure Technologies by 7.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 619,835 shares of the medical instruments supplier’s stock worth $2,089,000 after purchasing an additional 41,067 shares during the last quarter. XTX Topco Ltd grew its position in OraSure Technologies by 145.0% in the 1st quarter. XTX Topco Ltd now owns 120,191 shares of the medical instruments supplier’s stock valued at $405,000 after buying an additional 71,126 shares during the last quarter. Private Management Group Inc. acquired a new position in OraSure Technologies in the 1st quarter valued at $14,886,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in OraSure Technologies in the 1st quarter valued at $49,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

OraSure Technologies Company Profile

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.