Peapod Lane Capital LLC Has $2.47 Million Position in OraSure Technologies, Inc. $OSUR

Key Points

• Peapod Lane Capital increased its stake in OraSure Technologies by 51.1% to 1,018,470 shares valued at about $2.47 million, making it the fund’s 17th-largest holding and roughly 1.42% of OraSure’s outstanding stock.
• Insiders showed conviction: CEO Carrie Eglinton and CFO Kenneth J. McGrath each bought 32,300 shares at roughly $2.93 on March 20, part of 108,643 insider-purchased shares (~$321K) over the past 90 days, with insiders now owning 3.9% of the company.
• OSUR trades near $3.05 with a market cap of ~$219.5M, reported negative EPS and margins last quarter, and carries an average analyst recommendation of Reduce with a $3.00 consensus target.

Peapod Lane Capital LLC raised its stake in OraSure Technologies, Inc. (NASDAQ:OSUR - Free Report) by 51.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,018,470 shares of the medical instruments supplier's stock after purchasing an additional 344,437 shares during the period. OraSure Technologies accounts for approximately 2.1% of Peapod Lane Capital LLC's investment portfolio, making the stock its 17th biggest position. Peapod Lane Capital LLC owned approximately 1.42% of OraSure Technologies worth $2,465,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of OSUR. Altai Capital Management L.P. increased its holdings in shares of OraSure Technologies by 73.4% in the third quarter. Altai Capital Management L.P. now owns 3,748,836 shares of the medical instruments supplier's stock valued at $12,034,000 after purchasing an additional 1,586,488 shares during the last quarter. Millennium Management LLC increased its holdings in shares of OraSure Technologies by 71.1% in the third quarter. Millennium Management LLC now owns 2,112,507 shares of the medical instruments supplier's stock valued at $6,781,000 after purchasing an additional 878,151 shares during the last quarter. Cannell Capital LLC increased its holdings in shares of OraSure Technologies by 33.7% in the second quarter. Cannell Capital LLC now owns 1,864,989 shares of the medical instruments supplier's stock valued at $5,595,000 after purchasing an additional 470,536 shares during the last quarter. UBS Group AG increased its holdings in shares of OraSure Technologies by 98.2% in the third quarter. UBS Group AG now owns 722,520 shares of the medical instruments supplier's stock valued at $2,319,000 after purchasing an additional 358,016 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of OraSure Technologies by 48.3% in the first quarter. AQR Capital Management LLC now owns 1,041,875 shares of the medical instruments supplier's stock valued at $3,511,000 after purchasing an additional 339,493 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

OraSure Technologies Stock Performance

OSUR stock opened at $3.05 on Friday. The company's 50-day simple moving average is $3.02 and its 200 day simple moving average is $2.76. OraSure Technologies, Inc. has a 52 week low of $2.08 and a 52 week high of $3.82. The company has a market capitalization of $219.51 million, a PE ratio of -3.28 and a beta of 0.85.

OraSure Technologies (NASDAQ:OSUR - Get Free Report) last released its quarterly earnings results on Wednesday, February 25th. The medical instruments supplier reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.02). OraSure Technologies had a negative net margin of 59.76% and a negative return on equity of 16.45%. The business had revenue of $26.76 million during the quarter, compared to analyst estimates of $26.44 million.

Insider Activity

In other OraSure Technologies news, CFO Kenneth J. Mcgrath purchased 32,300 shares of the firm's stock in a transaction that occurred on Friday, March 20th. The shares were acquired at an average cost of $2.93 per share, for a total transaction of $94,639.00. Following the completion of the purchase, the chief financial officer owned 589,562 shares of the company's stock, valued at approximately $1,727,416.66. The trade was a 5.80% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Manner Carrie Eglinton purchased 32,300 shares of the firm's stock in a transaction that occurred on Friday, March 20th. The stock was acquired at an average price of $2.93 per share, for a total transaction of $94,639.00. Following the completion of the purchase, the chief executive officer directly owned 2,190,874 shares of the company's stock, valued at $6,419,260.82. This represents a 1.50% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 108,643 shares of company stock worth $321,407 over the last 90 days. 3.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a "sell (d)" rating on shares of OraSure Technologies in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus target price of $3.00.

About OraSure Technologies

OraSure Technologies, Inc is a Bethlehem, Pennsylvania–based diagnostic and medical device company specializing in the development, manufacture and commercialization of point-of-care and self-testing products. Founded in 1988, OraSure has built a portfolio of oral fluid and other non-invasive specimen collection technologies that support the detection of infectious diseases, drugs of abuse, and health and wellness biomarkers.

The company's flagship product, the OraQuick® rapid HIV test, was the first Food and Drug Administration–approved over-the-counter oral fluid test for the detection of HIV-1/2 antibodies.

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