Acadian Asset Management LLC Acquires 503,804 Shares of OraSure Technologies, Inc. (NASDAQ:OSUR)

Acadian Asset Management LLC boosted its holdings in shares of OraSure Technologies, Inc. (NASDAQ:OSUR) by 46.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,590,258 shares of the medical instruments supplier’s stock after acquiring an additional 503,804 shares during the period. Acadian Asset Management LLC owned approximately 2.08% of OraSure Technologies worth $9,776,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of OSUR. AJOVista LLC bought a new stake in shares of OraSure Technologies in the fourth quarter valued at about $39,000. SG Americas Securities LLC bought a new stake in shares of OraSure Technologies in the first quarter valued at about $72,000. Tocqueville Asset Management L.P. lifted its holdings in shares of OraSure Technologies by 20.0% in the first quarter. Tocqueville Asset Management L.P. now owns 15,089 shares of the medical instruments supplier’s stock valued at $93,000 after purchasing an additional 2,512 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in OraSure Technologies during the fourth quarter worth about $113,000. Finally, Baader Bank Aktiengesellschaft bought a new stake in OraSure Technologies during the fourth quarter worth about $115,000. 93.50% of the stock is currently owned by institutional investors.

OraSure Technologies Price Performance

NASDAQ OSUR traded down $0.04 during trading on Friday, reaching $4.20. 560,061 shares of the company’s stock were exchanged, compared to its average volume of 1,728,104. The business has a 50 day moving average price of $4.53 and a 200-day moving average price of $5.92. The stock has a market capitalization of $310.63 million, a P/E ratio of 14.00 and a beta of 0.09. OraSure Technologies, Inc. has a fifty-two week low of $3.91 and a fifty-two week high of $8.45.

OraSure Technologies (NASDAQ:OSUR) last announced its quarterly earnings results on Wednesday, May 8th. The medical instruments supplier reported $0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.04. The firm had revenue of $54.10 million for the quarter, compared to the consensus estimate of $52.27 million. OraSure Technologies had a return on equity of 7.68% and a net margin of 7.50%. The business’s revenue was down 65.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.37 earnings per share. On average, analysts forecast that OraSure Technologies, Inc. will post -0.08 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. StockNews.com lowered OraSure Technologies from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. Evercore ISI dropped their target price on OraSure Technologies from $5.50 to $4.50 and set an “in-line” rating on the stock in a report on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. dropped their target price on OraSure Technologies from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Monday, May 13th. 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, the stock currently has a consensus rating of “Hold” and an average price target of $6.50.

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.