Zacks Investment Research Downgrades OraSure Technologies (OSUR) to Sell

OraSure Technologies (NASDAQ:OSUR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

According to Zacks, “OraSure Technologies, Inc. develops, manufactures and markets oral fluid specimen collection devices using proprietary oral fluid technologies, diagnostic products including immunoassays and other in vitro diagnostic tests, and other medical devices. These products are sold in the United States as well as internationally to various clinical laboratories, hospitals, clinics, community-based organizations and other public health organizations, distributors, government agencies, physicians’ offices, and commercial and industrial entities. OraSure Technologies is the leading supplier of oral-fluid collection devices and in vitro diagnostic assays to the employment, criminal justice, drug treatment, life insurance and public health markets for the detection of abused drugs and the antibodies to HIV. Based in Bethlehem, Pennsylvania, the Company develops, manufactures and markets oral specimen collection devices, in vitro diagnostic tests, and other medical devices. “

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Other research analysts have also recently issued research reports about the stock. BidaskClub upgraded shares of OraSure Technologies from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 20th. ValuEngine upgraded shares of OraSure Technologies from a “hold” rating to a “buy” rating in a research note on Friday, March 2nd. Finally, Canaccord Genuity restated a “buy” rating and set a $24.00 target price on shares of OraSure Technologies in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $22.25.

Shares of OraSure Technologies stock opened at $17.67 on Wednesday. The firm has a market cap of $1,063.85, a PE ratio of 34.82, a price-to-earnings-growth ratio of 4.86 and a beta of 1.65. OraSure Technologies has a 1-year low of $12.31 and a 1-year high of $23.01.

OraSure Technologies (NASDAQ:OSUR) last issued its quarterly earnings results on Wednesday, February 7th. The medical instruments supplier reported $0.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.01. The business had revenue of $52.00 million for the quarter, compared to analysts’ expectations of $50.20 million. OraSure Technologies had a net margin of 18.52% and a return on equity of 13.09%. The company’s revenue was up 46.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.13 EPS. equities research analysts forecast that OraSure Technologies will post 0.29 earnings per share for the current fiscal year.

In other OraSure Technologies news, Director Stephen S. Phd Tang sold 23,333 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $17.97, for a total value of $419,294.01. Following the sale, the director now owns 59,749 shares in the company, valued at approximately $1,073,689.53. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Brian Smith sold 20,000 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $17.97, for a total transaction of $359,400.00. Following the completion of the sale, the executive vice president now owns 28,075 shares in the company, valued at approximately $504,507.75. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. Shelton Capital Management lifted its stake in OraSure Technologies by 24.6% in the 4th quarter. Shelton Capital Management now owns 22,826 shares of the medical instruments supplier’s stock worth $430,000 after purchasing an additional 4,500 shares in the last quarter. Swiss National Bank lifted its stake in OraSure Technologies by 4.9% in the 4th quarter. Swiss National Bank now owns 101,300 shares of the medical instruments supplier’s stock worth $1,911,000 after purchasing an additional 4,700 shares in the last quarter. ETRADE Capital Management LLC lifted its stake in OraSure Technologies by 43.4% in the 4th quarter. ETRADE Capital Management LLC now owns 18,402 shares of the medical instruments supplier’s stock worth $347,000 after purchasing an additional 5,566 shares in the last quarter. Cadence Capital Management LLC lifted its stake in OraSure Technologies by 7.8% in the 4th quarter. Cadence Capital Management LLC now owns 79,028 shares of the medical instruments supplier’s stock worth $1,490,000 after purchasing an additional 5,705 shares in the last quarter. Finally, Guggenheim Capital LLC increased its holdings in shares of OraSure Technologies by 3.3% in the 4th quarter. Guggenheim Capital LLC now owns 212,876 shares of the medical instruments supplier’s stock worth $4,014,000 after buying an additional 6,746 shares during the last quarter. Institutional investors and hedge funds own 92.86% of the company’s stock.

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OraSure Technologies Company Profile

OraSure Technologies, Inc, together with its subsidiaries, develops, manufactures, markets, and sells oral fluid diagnostic products and specimen collection devices in the United States, Europe, and internationally. It operates in two segments, OSUR and DNAG. The company also offers other diagnostic products, such as immunoassays and other in vitro diagnostic tests.

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