OraSure Technologies, Inc. (NASDAQ:OSUR) Shares Purchased by Millennium Management LLC

Millennium Management LLC lifted its position in shares of OraSure Technologies, Inc. (NASDAQ:OSUR - Free Report) by 16.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,158,450 shares of the medical instruments supplier's stock after purchasing an additional 308,420 shares during the period. Millennium Management LLC owned 2.89% of OraSure Technologies worth $7,792,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its stake in shares of OraSure Technologies by 202.3% in 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 purchasing an additional 5,234 shares in the last quarter. Causeway Capital Management LLC bought a new position in shares of OraSure Technologies in the 4th quarter worth about $36,000. Raymond James Financial Inc. purchased a new stake in OraSure Technologies during the 4th quarter valued at about $37,000. Boothbay Fund Management LLC purchased a new stake in OraSure Technologies during the 4th quarter valued at about $42,000. Finally, Gotham Asset Management LLC purchased a new stake in OraSure Technologies during the 4th quarter valued at about $43,000. Institutional investors own 93.50% of the company's stock.

Wall Street Analysts Forecast Growth

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

OraSure Technologies Trading Up 3.9%

NASDAQ OSUR traded up $0.11 on Friday, reaching $2.95. 1,097,939 shares of the stock were exchanged, compared to its average volume of 862,172. OraSure Technologies, Inc. has a one year low of $2.36 and a one year high of $4.98. The firm has a market capitalization of $220.66 million, a PE ratio of 19.67 and a beta of 0.42. The company's 50-day simple moving average is $2.91 and its two-hundred day simple moving average is $3.46.

OraSure Technologies declared that its Board of Directors has approved a share buyback program on Monday, March 24th that permits the company to repurchase $40.00 million in shares. This repurchase authorization permits the medical instruments supplier to purchase up to 15.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

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.