Zacks Investment Research Lowers OraSure Technologies (OSUR) to Hold

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OraSure Technologies (NASDAQ:OSUR) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note 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. “

A number of other research firms also recently weighed in on OSUR. BidaskClub downgraded shares of OraSure Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, August 29th. ValuEngine raised shares of OraSure Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday. TheStreet raised shares of OraSure Technologies from a “c+” rating to a “b” rating in a research note on Thursday, August 9th. Stephens downgraded shares of OraSure Technologies from an “overweight” rating to an “equal weight” rating in a research note on Monday, July 16th. Finally, Raymond James reaffirmed a “mkt perform” rating on shares of OraSure Technologies in a research note on Tuesday, October 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $20.50.

Shares of OSUR opened at $14.45 on Wednesday. The company has a market cap of $868.66 million, a P/E ratio of 28.33, a PEG ratio of 3.34 and a beta of 1.52. OraSure Technologies has a 1 year low of $13.21 and a 1 year high of $22.22.

OraSure Technologies (NASDAQ:OSUR) last posted its quarterly earnings results on Wednesday, August 8th. The medical instruments supplier reported $0.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.03. The company had revenue of $43.60 million for the quarter, compared to the consensus estimate of $42.24 million. OraSure Technologies had a net margin of 8.38% and a return on equity of 5.85%. OraSure Technologies’s revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.09 earnings per share. As a group, research analysts forecast that OraSure Technologies will post 0.34 EPS for the current fiscal year.

In other OraSure Technologies news, Director Charles W. Patrick sold 8,000 shares of the stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $16.29, for a total transaction of $130,320.00. Following the transaction, the director now owns 54,298 shares of the company’s stock, valued at $884,514.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 2.90% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. increased its position in shares of OraSure Technologies by 10.6% in the second quarter. BlackRock Inc. now owns 8,480,830 shares of the medical instruments supplier’s stock worth $139,679,000 after acquiring an additional 810,442 shares in the last quarter. Fred Alger Management Inc. increased its position in shares of OraSure Technologies by 62.8% in the second quarter. Fred Alger Management Inc. now owns 2,695,239 shares of the medical instruments supplier’s stock worth $44,391,000 after acquiring an additional 1,040,166 shares in the last quarter. Peregrine Capital Management LLC increased its position in shares of OraSure Technologies by 2.7% in the third quarter. Peregrine Capital Management LLC now owns 1,075,718 shares of the medical instruments supplier’s stock worth $16,620,000 after acquiring an additional 28,525 shares in the last quarter. Emerald Advisers Inc. PA increased its position in shares of OraSure Technologies by 49.1% in the second quarter. Emerald Advisers Inc. PA now owns 1,007,294 shares of the medical instruments supplier’s stock worth $16,590,000 after acquiring an additional 331,922 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust increased its position in shares of OraSure Technologies by 6.3% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 889,381 shares of the medical instruments supplier’s stock worth $13,741,000 after acquiring an additional 52,985 shares in the last quarter. 92.00% of the stock is currently owned by institutional investors.

About OraSure Technologies

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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