Deerfield Management Company L.P. Series C Has $75,000 Holdings in OraSure Technologies, Inc. (NASDAQ:OSUR)

Deerfield Management Company L.P. Series C trimmed its position in OraSure Technologies, Inc. (NASDAQ:OSUR - Free Report) by 87.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,898 shares of the medical instruments supplier's stock after selling 140,914 shares during the quarter. Deerfield Management Company L.P. Series C's holdings in OraSure Technologies were worth $75,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Tower Research Capital LLC TRC grew its holdings in shares of OraSure Technologies by 202.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,821 shares of the medical instruments supplier's stock valued at $28,000 after acquiring an additional 5,234 shares in the last quarter. Causeway Capital Management LLC bought a new stake in OraSure Technologies in the fourth quarter worth approximately $36,000. Raymond James Financial Inc. acquired a new position in shares of OraSure Technologies during the 4th quarter worth $37,000. Boothbay Fund Management LLC bought a new position in shares of OraSure Technologies during the 4th quarter valued at $42,000. Finally, AXQ Capital LP acquired a new stake in shares of OraSure Technologies in the 4th quarter valued at $51,000. Institutional investors and hedge funds own 93.50% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded OraSure Technologies from a "hold" rating to a "sell" rating in a report on Friday.

Insiders Place Their Bets

In other news, Director John P. Kenny acquired 47,659 shares of the firm's stock in a transaction dated Thursday, February 27th. The stock was bought at an average price of $3.17 per share, with a total value of $151,079.03. Following the transaction, the director now directly owns 70,915 shares in the company, valued at approximately $224,800.55. The trade was a 204.93% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Kenneth J. Mcgrath acquired 64,000 shares of the company's stock in a transaction on Thursday, February 27th. The stock was acquired at an average price of $3.15 per share, for a total transaction of $201,600.00. Following the purchase, the chief financial officer now directly owns 371,013 shares of the company's stock, valued at approximately $1,168,690.95. This trade represents a 20.85% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 190,284 shares of company stock valued at $600,348. Company insiders own 3.90% of the company's stock.

OraSure Technologies Stock Down 0.4%

OSUR stock traded down $0.01 during midday trading on Tuesday, reaching $2.66. The stock had a trading volume of 201,050 shares, compared to its average volume of 859,002. The firm has a market cap of $206.12 million, a price-to-earnings ratio of 17.73 and a beta of 0.42. OraSure Technologies, Inc. has a twelve month low of $2.42 and a twelve month high of $5.55. The business has a fifty day simple moving average of $3.15 and a two-hundred day simple moving average of $3.60.

OraSure Technologies declared that its board has approved a stock buyback plan on Monday, March 24th that authorizes the company to repurchase $40.00 million in outstanding shares. This repurchase authorization authorizes the medical instruments supplier to purchase up to 15.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its shares are undervalued.

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.