OraSure Technologies, Inc. $OSUR Stake Reduced by Private Management Group Inc.

Key Points

• Private Management Group cut its OraSure stake by 16.3% in the third quarter, selling 617,675 shares; it retained 3.18 million shares, representing 4.61% of the company.
• Institutional investors collectively own 93.5% of OraSure. The company reported a quarterly loss of $0.15 per share, better than the $0.20 loss analysts expected, while revenue of $30.91 million slightly missed estimates.
• Analyst sentiment was mixed, with one Strong Buy, two Holds and one Sell; the consensus rating was Hold and the average price target was $3.00.

Private Management Group Inc. reduced its holdings in OraSure Technologies, Inc. (NASDAQ:OSUR - Free Report) by 16.3% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,180,007 shares of the medical instruments supplier's stock after selling 617,675 shares during the quarter. Private Management Group Inc. owned 4.61% of OraSure Technologies worth $12,466,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Altai Capital Management L.P. purchased a new position in shares of OraSure Technologies during the second quarter worth about $16,118,000. BlackRock Inc. bought a new position in shares of OraSure Technologies in the second quarter worth approximately $27,905,000. Cannell Capital LLC purchased a new stake in OraSure Technologies in the second quarter valued at approximately $6,366,289. Yorkville Advisors Global LP purchased a new stake in OraSure Technologies in the first quarter valued at approximately $1,905,000. Finally, Bank of New York Mellon Corp bought a new stake in OraSure Technologies during the second quarter valued at approximately $926,000. Hedge funds and other institutional investors own 93.50% of the company's stock.

OraSure Technologies Price Performance

Shares of NASDAQ OSUR opened at $3.53 on Tuesday. The stock's 50-day moving average is $3.73 and its 200 day moving average is $3.54. OraSure Technologies, Inc. has a 1-year low of $2.08 and a 1-year high of $4.58.

OraSure Technologies (NASDAQ:OSUR - Get Free Report) last issued its earnings results on Monday, November 9th. The medical instruments supplier reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.05. OraSure Technologies had a negative return on equity of 19.09% and a negative net margin of 43.70%. The business had revenue of $30.91 million during the quarter, compared to analyst estimates of $31.00 million. Equities research analysts expect that OraSure Technologies, Inc. will post -0.96 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Zacks Research raised shares of OraSure Technologies to a "hold" rating in a research note on Friday, October 2nd. Craig Hallum upgraded shares of OraSure Technologies to a "strong-buy" rating in a research report on Friday, October 23rd. Wall Street Zen raised shares of OraSure Technologies from a "sell" rating to a "hold" rating in a report on Monday, August 10th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of OraSure Technologies in a research report on Tuesday, September 1st. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $3.00.

OraSure Technologies Profile

OraSure Technologies, Inc develops, manufactures and markets diagnostic products and specimen-collection technologies used by healthcare providers, laboratories, researchers and consumers. The company focuses on making testing more accessible through products that support decentralized, point-of-care and at-home testing, as well as laboratory-based molecular and diagnostic workflows.

Its portfolio has included the OraQuick line of rapid diagnostic tests, including oral-fluid tests for HIV and hepatitis C, along with other infectious-disease testing products.

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