Systematic Financial Management LP Acquires 421,497 Shares of OraSure Technologies, Inc. (NASDAQ:OSUR)

Systematic Financial Management LP increased its position in OraSure Technologies, Inc. (NASDAQ:OSUR - Free Report) by 33.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,673,609 shares of the medical instruments supplier's stock after buying an additional 421,497 shares during the quarter. Systematic Financial Management LP owned about 2.24% of OraSure Technologies worth $6,042,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of OraSure Technologies by 5.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 76,932 shares of the medical instruments supplier's stock valued at $278,000 after buying an additional 3,828 shares during the period. Invesco Ltd. lifted its holdings in shares of OraSure Technologies by 3.4% in the fourth quarter. Invesco Ltd. now owns 127,526 shares of the medical instruments supplier's stock valued at $460,000 after buying an additional 4,240 shares during the period. Tower Research Capital LLC TRC lifted its holdings 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 purchasing an additional 5,234 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of OraSure Technologies by 32.3% during the fourth quarter. Legal & General Group Plc now owns 23,626 shares of the medical instruments supplier's stock valued at $85,000 after purchasing an additional 5,770 shares during the last quarter. Finally, Orion Portfolio Solutions LLC lifted its holdings in shares of OraSure Technologies by 10.7% during the fourth quarter. Orion Portfolio Solutions LLC now owns 61,170 shares of the medical instruments supplier's stock valued at $221,000 after purchasing an additional 5,929 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Insider Activity

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on OSUR. Evercore ISI reaffirmed an "in-line" rating and set a $3.00 target price on shares of OraSure Technologies in a report on Monday. StockNews.com raised OraSure Technologies from a "sell" rating to a "hold" rating in a report on Saturday.

OraSure Technologies Stock Up 6.5%

Shares of OSUR traded up $0.17 during midday trading on Tuesday, reaching $2.80. 848,906 shares of the stock were exchanged, compared to its average volume of 858,915. OraSure Technologies, Inc. has a 12-month low of $2.36 and a 12-month high of $5.08. The firm has a 50 day simple moving average of $3.06 and a 200-day simple moving average of $3.55. The company has a market cap of $209.44 million, a price-to-earnings ratio of 18.67 and a beta of 0.42.

OraSure Technologies announced that its Board of Directors has initiated a share buyback plan on Monday, March 24th that permits the company to repurchase $40.00 million in outstanding shares. This repurchase authorization permits the medical instruments supplier to buy up to 15.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its shares are undervalued.

OraSure Technologies Company 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.