StockNews.com Downgrades OraSure Technologies (NASDAQ:OSUR) to Hold

StockNews.com downgraded shares of OraSure Technologies (NASDAQ:OSUR) from a buy rating to a hold rating in a research note published on Saturday morning.

Other analysts also recently issued research reports about the stock. JPMorgan Chase & Co. decreased their price objective on shares of OraSure Technologies from $7.00 to $6.00 and set a neutral rating for the company in a report on Monday, May 13th. Evercore ISI increased their target price on shares of OraSure Technologies from $4.50 to $5.00 and gave the company an in-line rating in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $6.67.

OraSure Technologies Price Performance

Shares of OraSure Technologies stock opened at $4.24 on Friday. The stock has a fifty day moving average price of $4.28 and a 200-day moving average price of $5.37. The firm has a market cap of $313.59 million, a PE ratio of 14.13 and a beta of 0.09. OraSure Technologies has a 1 year low of $3.91 and a 1 year high of $8.45.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Millennium Management LLC raised its stake in OraSure Technologies by 727.5% in the second quarter. Millennium Management LLC now owns 2,021,126 shares of the medical instruments supplier’s stock valued at $8,610,000 after purchasing an additional 1,776,867 shares in the last quarter. Cannell Capital LLC raised its position in shares of OraSure Technologies by 25.8% during the 4th quarter. Cannell Capital LLC now owns 3,549,050 shares of the medical instruments supplier’s stock valued at $29,102,000 after buying an additional 728,459 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of OraSure Technologies by 38.1% during the 2nd quarter. Acadian Asset Management LLC now owns 2,195,582 shares of the medical instruments supplier’s stock valued at $9,349,000 after buying an additional 605,324 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of OraSure Technologies by 30.1% during the 2nd quarter. American Century Companies Inc. now owns 1,809,897 shares of the medical instruments supplier’s stock worth $7,710,000 after acquiring an additional 418,603 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in OraSure Technologies by 20.6% in the second quarter. Renaissance Technologies LLC now owns 2,288,443 shares of the medical instruments supplier’s stock worth $9,749,000 after acquiring an additional 391,100 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

About OraSure Technologies

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.