Peapod Lane Capital LLC Has $1.93 Million Stock Position in OraSure Technologies, Inc. (NASDAQ:OSUR)

Peapod Lane Capital LLC raised its position in OraSure Technologies, Inc. (NASDAQ:OSUR - Free Report) by 19.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 571,110 shares of the medical instruments supplier's stock after buying an additional 91,787 shares during the quarter. OraSure Technologies accounts for 2.2% of Peapod Lane Capital LLC's holdings, making the stock its 19th biggest holding. Peapod Lane Capital LLC owned 0.74% of OraSure Technologies worth $1,925,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of OSUR. D. E. Shaw & Co. Inc. lifted its position in shares of OraSure Technologies by 180.5% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,517,541 shares of the medical instruments supplier's stock valued at $5,478,000 after acquiring an additional 976,475 shares during the period. Renaissance Technologies LLC lifted its position in shares of OraSure Technologies by 23.1% during the 4th quarter. Renaissance Technologies LLC now owns 2,774,443 shares of the medical instruments supplier's stock worth $10,016,000 after buying an additional 521,400 shares during the last quarter. Archon Capital Management LLC lifted its position in shares of OraSure Technologies by 145.1% during the 4th quarter. Archon Capital Management LLC now owns 827,777 shares of the medical instruments supplier's stock worth $2,988,000 after buying an additional 490,034 shares during the last quarter. Systematic Financial Management LP lifted its position in shares of OraSure Technologies by 33.7% during the 4th quarter. Systematic Financial Management LP now owns 1,673,609 shares of the medical instruments supplier's stock worth $6,042,000 after buying an additional 421,497 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of OraSure Technologies by 76.5% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 926,608 shares of the medical instruments supplier's stock worth $3,345,000 after buying an additional 401,658 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

OraSure Technologies Trading Up 0.7%

OSUR traded up $0.02 on Thursday, reaching $3.05. The stock had a trading volume of 715,993 shares, compared to its average volume of 745,966. OraSure Technologies, Inc. has a fifty-two week low of $2.36 and a fifty-two week high of $4.92. The firm has a 50-day moving average of $2.84 and a 200-day moving average of $3.28. The company has a market capitalization of $228.14 million, a price-to-earnings ratio of -7.26 and a beta of 0.45.

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

Analysts Set New Price Targets

Several analysts recently weighed in on OSUR shares. Evercore ISI restated an "in-line" rating and set a $3.00 price objective on shares of OraSure Technologies in a research report on Monday, May 19th. Wall Street Zen raised OraSure Technologies from a "sell" rating to a "hold" rating in a report on Saturday, May 17th.

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.