OraSure Technologies (NASDAQ:OSUR) Earns In-Line Rating from Evercore ISI

OraSure Technologies (NASDAQ:OSUR)‘s stock had its “in-line” rating reiterated by Evercore ISI in a report issued on Monday,Benzinga reports. They presently have a $3.00 target price on the medical instruments supplier’s stock. Evercore ISI’s price objective suggests a potential upside of 16.96% from the stock’s current price.

Separately, StockNews.com upgraded shares of OraSure Technologies from a “sell” rating to a “hold” rating in a research note on Saturday.

OraSure Technologies Stock Performance

Shares of NASDAQ OSUR traded up $0.14 during trading on Monday, hitting $2.57. 607,289 shares of the company traded hands, compared to its average volume of 770,502. The business’s fifty day moving average is $3.08 and its 200 day moving average is $3.56. OraSure Technologies has a fifty-two week low of $2.36 and a fifty-two week high of $5.08. The firm has a market capitalization of $191.86 million, a price-to-earnings ratio of 17.10 and a beta of 0.42.

OraSure Technologies declared that its Board of Directors has approved a stock buyback plan on Monday, March 24th that permits the company to repurchase $40.00 million in shares. This repurchase authorization permits the medical instruments supplier to repurchase up to 15.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at OraSure Technologies

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

Institutional Investors Weigh In On OraSure Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC boosted its stake in shares of OraSure Technologies by 202.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,821 shares of the medical instruments supplier’s stock worth $28,000 after acquiring an additional 5,234 shares during the last quarter. Causeway Capital Management LLC purchased a new position in shares of OraSure Technologies during the 4th quarter valued at $36,000. Raymond James Financial Inc. purchased a new position in shares of OraSure Technologies during the 4th quarter valued at $37,000. Boothbay Fund Management LLC purchased a new position in shares of OraSure Technologies during the 4th quarter valued at $42,000. Finally, Gotham Asset Management LLC purchased a new position in shares of OraSure Technologies during the 4th quarter valued at $43,000. 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.