BNP Paribas Financial Markets Reduces Stake in OraSure Technologies, Inc. (NASDAQ:OSUR)

BNP Paribas Financial Markets lessened its stake in shares of OraSure Technologies, Inc. (NASDAQ:OSUR - Free Report) by 90.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 85,962 shares of the medical instruments supplier's stock after selling 769,989 shares during the period. BNP Paribas Financial Markets owned about 0.12% of OraSure Technologies worth $310,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of OSUR. Tower Research Capital LLC TRC raised its stake in shares of OraSure Technologies by 202.3% during the fourth 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 shares of OraSure Technologies during the fourth quarter valued at approximately $36,000. Raymond James Financial Inc. bought a new stake in shares of OraSure Technologies during the fourth quarter valued at approximately $37,000. Boothbay Fund Management LLC bought a new stake in shares of OraSure Technologies during the fourth quarter valued at approximately $42,000. Finally, AXQ Capital LP bought a new position in OraSure Technologies in the fourth quarter worth approximately $51,000. Institutional investors own 93.50% of the company's stock.

OraSure Technologies Stock Performance

NASDAQ:OSUR traded up $0.11 during midday trading on Friday, reaching $2.95. 1,097,939 shares of the stock traded hands, compared to its average volume of 862,172. The business has a 50-day moving average of $2.91 and a two-hundred day moving average of $3.45. OraSure Technologies, Inc. has a 12-month low of $2.36 and a 12-month high of $4.98. The stock has a market capitalization of $220.66 million, a PE ratio of 19.67 and a beta of 0.42.

OraSure Technologies announced that its Board of Directors has authorized a share repurchase plan 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 purchase up to 15.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on OSUR. Wall Street Zen upgraded OraSure Technologies from a "sell" rating to a "hold" rating in a research note on Saturday, May 17th. Evercore ISI reiterated an "in-line" rating and issued a $3.00 target price on shares of OraSure Technologies in a report on Monday, May 19th.

OraSure Technologies Profile

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.