OraSure Technologies (NASDAQ:OSUR) Price Target Raised to $5.00

OraSure Technologies (NASDAQ:OSUR) had its price target hoisted by analysts at Evercore ISI from $4.50 to $5.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “in-line” rating on the medical instruments supplier’s stock. Evercore ISI’s price target indicates a potential upside of 7.53% from the company’s current price.

OSUR has been the topic of a number of other research reports. JPMorgan Chase & Co. cut their price objective on shares of OraSure Technologies from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Monday, May 13th. StockNews.com cut shares of OraSure Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $6.67.

OraSure Technologies Stock Up 7.6 %

OraSure Technologies stock traded up $0.33 during mid-day trading on Wednesday, reaching $4.65. 207,137 shares of the company’s stock traded hands, compared to its average volume of 1,010,595. The company has a market cap of $343.91 million, a price-to-earnings ratio of 15.60 and a beta of 0.09. The stock has a 50 day moving average of $4.38 and a two-hundred day moving average of $5.63. OraSure Technologies has a 12-month low of $3.91 and a 12-month high of $8.45.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. AJOVista LLC bought a new position in shares of OraSure Technologies in the fourth quarter worth about $39,000. SG Americas Securities LLC bought a new position in shares of OraSure Technologies in the first quarter worth about $72,000. Dynamic Technology Lab Private Ltd bought a new position in shares of OraSure Technologies in the fourth quarter worth about $113,000. Baader Bank Aktiengesellschaft bought a new position in shares of OraSure Technologies in the fourth quarter worth about $115,000. Finally, Tocqueville Asset Management L.P. grew 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 worth $93,000 after purchasing an additional 2,512 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

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.