Dimensional Fund Advisors LP Cuts Stock Holdings in OraSure Technologies, Inc. (NASDAQ:OSUR)

Dimensional Fund Advisors LP lowered its stake in shares of OraSure Technologies, Inc. (NASDAQ:OSUR - Free Report) by 3.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 3,969,680 shares of the medical instruments supplier's stock after selling 163,156 shares during the period. Dimensional Fund Advisors LP owned about 5.32% of OraSure Technologies worth $14,330,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. raised its stake in shares of OraSure Technologies by 10.7% during the 4th quarter. Principal Financial Group Inc. now owns 73,137 shares of the medical instruments supplier's stock valued at $264,000 after buying an additional 7,077 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of OraSure Technologies by 28.5% in the 3rd quarter. Franklin Resources Inc. now owns 269,269 shares of the medical instruments supplier's stock valued at $1,091,000 after purchasing an additional 59,723 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of OraSure Technologies by 5.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 847,933 shares of the medical instruments supplier's stock valued at $3,621,000 after purchasing an additional 46,216 shares in the last quarter. Barclays PLC increased its stake in OraSure Technologies by 182.6% during the 3rd quarter. Barclays PLC now owns 195,793 shares of the medical instruments supplier's stock worth $836,000 after buying an additional 126,503 shares in the last quarter. Finally, Exchange Traded Concepts LLC purchased a new stake in OraSure Technologies during the 4th quarter worth approximately $287,000. Hedge funds and other institutional investors own 93.50% of the company's stock.

Insider Activity at OraSure Technologies

In other OraSure Technologies news, Director John P. Kenny acquired 47,659 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average cost of $3.17 per share, for a total transaction of $151,079.03. Following the completion of the acquisition, the director now owns 70,915 shares of the company's stock, 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 available at this hyperlink. Also, CFO Kenneth J. Mcgrath acquired 64,000 shares of the firm's stock in a transaction that occurred 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 completion of the acquisition, the chief financial officer now directly owns 371,013 shares of the company's stock, valued at $1,168,690.95. The trade was a 20.85% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 190,284 shares of company stock worth $600,348. Insiders own 3.90% of the company's stock.

OraSure Technologies Trading Up 6.4%

NASDAQ:OSUR traded up $0.16 during trading hours on Monday, hitting $2.67. 721,055 shares of the stock were exchanged, compared to its average volume of 861,578. OraSure Technologies, Inc. has a 52-week low of $2.42 and a 52-week high of $5.55. The company has a market cap of $206.89 million, a P/E ratio of 17.80 and a beta of 0.42. The firm's fifty day moving average price is $3.16 and its 200 day moving average price is $3.61.

OraSure Technologies announced that its board has authorized a share repurchase program on Monday, March 24th that authorizes the company to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the medical instruments supplier to reacquire up to 15.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's management believes its shares are undervalued.

Analyst Ratings Changes

Separately, StockNews.com lowered OraSure Technologies from a "hold" rating to a "sell" rating in a research note on Friday.

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.