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. acquired a new stake in OraSure Technologies, Inc. (NASDAQ:OSUR - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,417,227 shares of the medical instruments supplier's stock, valued at approximately $14,886,000. Private Management Group Inc. owned 5.70% of OraSure Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Tower Research Capital LLC TRC lifted its holdings in OraSure Technologies by 202.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,821 shares of the medical instruments supplier's stock worth $28,000 after buying an additional 5,234 shares in the last quarter. Causeway Capital Management LLC purchased a new stake in shares of OraSure Technologies during the fourth quarter worth $36,000. Raymond James Financial Inc. purchased a new stake in shares of OraSure Technologies during the fourth quarter worth $37,000. Boothbay Fund Management LLC acquired a new stake in shares of OraSure Technologies in the fourth quarter valued at $42,000. Finally, Gotham Asset Management LLC acquired a new position in OraSure Technologies during the 4th quarter worth $43,000. Hedge funds and other institutional investors own 93.50% of the company's stock.

Analysts Set New Price Targets

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

OraSure Technologies Price Performance

NASDAQ OSUR opened at $3.32 on Friday. The firm's fifty day moving average price is $2.95 and its 200 day moving average price is $3.25. OraSure Technologies, Inc. has a 12 month low of $2.36 and a 12 month high of $4.92. The company has a market capitalization of $248.34 million, a price-to-earnings ratio of -7.90 and a beta of 0.45.

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.

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