OraSure Technologies, Inc. (NASDAQ:OSUR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday, October 25th. The brokerage presently has a $23.00 price target on the medical instruments supplier’s stock. Zacks Investment Research‘s target price indicates a potential upside of 61.40% from the company’s current price.
According to Zacks, “OraSure Technologies, Inc. is the market leader for oral fluid diagnostics. The Company develops, manufactures, and markets medical devices and diagnostic products for use by insurance companies, public health agencies, clinical laboratories, physicians’ offices, and workplace sites. “
OSUR has been the subject of several other research reports. Canaccord Genuity upped their target price on shares of OraSure Technologies from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, August 3rd. Jefferies Group LLC reissued a “buy” rating and issued a $20.00 price objective on shares of OraSure Technologies in a research report on Tuesday, September 12th. BidaskClub lowered shares of OraSure Technologies from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Finally, Stephens reiterated an “overweight” rating and set a $19.00 price objective (up from $14.00) on shares of OraSure Technologies in a research note on Tuesday, July 11th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $18.21.
OraSure Technologies (OSUR) opened at $14.25 on Wednesday. The stock has a market capitalization of $864.23, a PE ratio of 27.40, a P/E/G ratio of 2.74 and a beta of 1.39. OraSure Technologies has a twelve month low of $7.84 and a twelve month high of $23.01.
OraSure Technologies (NASDAQ:OSUR) last issued its quarterly earnings results on Wednesday, November 1st. The medical instruments supplier reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. The firm had revenue of $42.30 million for the quarter, compared to analysts’ expectations of $40.87 million. OraSure Technologies had a return on equity of 14.12% and a net margin of 20.48%. The business’s revenue for the quarter was up 31.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.11 EPS. analysts forecast that OraSure Technologies will post 0.42 earnings per share for the current year.
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In other OraSure Technologies news, CEO Douglas A. Michels sold 22,923 shares of the stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $23.00, for a total value of $527,229.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Douglas A. Michels sold 25,000 shares of the stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $22.55, for a total transaction of $563,750.00. Following the completion of the sale, the chief executive officer now directly owns 743,058 shares in the company, valued at $16,755,957.90. The disclosure for this sale can be found here. Insiders sold a total of 61,110 shares of company stock worth $1,362,463 over the last quarter. 6.40% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in shares of OraSure Technologies by 127,593.4% in the 1st quarter. BlackRock Inc. now owns 7,743,325 shares of the medical instruments supplier’s stock worth $100,123,000 after acquiring an additional 7,737,261 shares during the period. Vanguard Group Inc. increased its holdings in shares of OraSure Technologies by 19.8% in the 2nd quarter. Vanguard Group Inc. now owns 5,352,832 shares of the medical instruments supplier’s stock valued at $92,390,000 after purchasing an additional 886,333 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of OraSure Technologies by 5.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,057,690 shares of the medical instruments supplier’s stock valued at $52,777,000 after purchasing an additional 167,642 shares in the last quarter. Daruma Capital Management LLC increased its holdings in shares of OraSure Technologies by 2,761.0% in the 2nd quarter. Daruma Capital Management LLC now owns 2,821,506 shares of the medical instruments supplier’s stock valued at $48,699,000 after purchasing an additional 2,722,886 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in shares of OraSure Technologies by 32.5% in the 2nd quarter. Acadian Asset Management LLC now owns 1,846,854 shares of the medical instruments supplier’s stock valued at $31,877,000 after purchasing an additional 452,642 shares in the last quarter. Institutional investors own 92.56% of the company’s stock.
OraSure Technologies Company Profile
OraSure Technologies, Inc (OraSure) is involved in the development, manufacture, marketing and sale of oral fluid diagnostic products and specimen collection devices using its technologies, as well as other diagnostic products, including immunoassays and other in vitro diagnostic tests that are used on other specimen types.
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