Private Management Group Inc. Makes New Investment in OraSure Technologies, Inc. (NASDAQ:OSUR)

Key Points

• Private Management Group Inc. acquired a new stake in OraSure Technologies, amounting to approximately $14.9 million, giving it a ownership of 5.70% in the company as per their latest SEC filing.
• Several institutional investors have increased their positions in OraSure Technologies, with hedge funds and institutional investors owning a total of 93.50% of the company's stock.
• Analysts have recently upgraded OraSure Technologies to a "hold" rating and set a price target of $3.00, reflecting cautious optimism about the company's performance.

Private Management Group Inc. purchased a new position in OraSure Technologies, Inc. (NASDAQ:OSUR - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,417,227 shares of the medical instruments supplier's stock, valued at approximately $14,886,000. Private Management Group Inc. owned about 5.70% of OraSure Technologies as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its holdings in 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 worth $28,000 after purchasing an additional 5,234 shares in the last quarter. Causeway Capital Management LLC acquired a new stake in OraSure Technologies during the fourth quarter worth approximately $36,000. Raymond James Financial Inc. acquired a new stake in OraSure Technologies during the fourth quarter worth approximately $37,000. Boothbay Fund Management LLC acquired a new stake in OraSure Technologies during the fourth quarter worth approximately $42,000. Finally, Gotham Asset Management LLC acquired a new stake in OraSure Technologies during the fourth quarter worth approximately $43,000. Hedge funds and other institutional investors own 93.50% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Evercore ISI reissued an "in-line" rating and set a $3.00 price objective on shares of OraSure Technologies in a report on Monday, May 19th. Wall Street Zen raised shares of OraSure Technologies from a "sell" rating to a "hold" rating in a report on Saturday, May 17th.

OraSure Technologies Trading Down 2.5%

Shares of OraSure Technologies stock traded down $0.09 during trading on Tuesday, reaching $3.27. The company's stock had a trading volume of 96,686 shares, compared to its average volume of 780,139. The company has a 50-day moving average price of $2.98 and a two-hundred day moving average price of $3.24. The firm has a market cap of $244.22 million, a PE ratio of -7.77 and a beta of 0.45. OraSure Technologies, Inc. has a fifty-two week low of $2.36 and a fifty-two week high of $4.92.

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.