Private Management Group Inc. Cuts Stake in OraSure Technologies, Inc. $OSUR

Key Points

• Private Management Group reduced its OraSure Technologies stake by 30% in the second quarter, selling 1.62 million shares and retaining 3.80 million shares worth about $16.9 million, or roughly 5.51% of the company.
• Other institutional investors established new positions, while hedge funds and institutional investors collectively owned 93.5% of OSUR’s shares.
• OraSure shares opened at $3.60, below the $3.00 consensus price target from analysts whose overall rating is “Reduce.” The stock has traded between $2.08 and $4.58 over the past year.

Private Management Group Inc. lowered its holdings in shares of OraSure Technologies, Inc. (NASDAQ:OSUR - Free Report) by 30.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,797,682 shares of the medical instruments supplier's stock after selling 1,624,447 shares during the period. Private Management Group Inc. owned about 5.51% of OraSure Technologies worth $16,938,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in OSUR. Quadrature Capital Ltd bought a new stake in OraSure Technologies in the fourth quarter worth $28,000. Legal & General Group Plc bought a new position in shares of OraSure Technologies during the second quarter valued at about $30,000. Prudential Financial Inc. bought a new stake in OraSure Technologies in the second quarter valued at approximately $31,000. Diversify Wealth Management LLC bought a new stake in OraSure Technologies in the first quarter valued at approximately $36,000. Finally, Diversify Advisory Services LLC purchased a new stake in shares of OraSure Technologies during the second quarter valued at approximately $47,000. Hedge funds and other institutional investors own 93.50% of the company's stock.

OraSure Technologies Price Performance

OSUR opened at $3.60 on Friday. OraSure Technologies, Inc. has a one year low of $2.08 and a one year high of $4.58. The business has a 50 day simple moving average of $4.05 and a two-hundred day simple moving average of $3.54. The firm has a market capitalization of $248.29 million, a price-to-earnings ratio of -5.22 and a beta of 1.00.

Analysts Set New Price Targets

Several research analysts have recently issued reports on OSUR shares. Weiss Ratings upgraded shares of OraSure Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, June 4th. Wall Street Zen upgraded shares of OraSure Technologies from a "sell" rating to a "hold" rating in a report on Monday, August 10th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, OraSure Technologies currently has a consensus rating of "Reduce" and a consensus price target of $3.00.

OraSure Technologies Profile

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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