Two Sigma Investments LP Takes $552,000 Position in OraSure Technologies, Inc. (NASDAQ:OSUR)

Two Sigma Investments LP bought a new stake in OraSure Technologies, Inc. (NASDAQ:OSUR - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 153,029 shares of the medical instruments supplier's stock, valued at approximately $552,000. Two Sigma Investments LP owned 0.21% of OraSure Technologies at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Renaissance Technologies LLC raised its stake in shares of OraSure Technologies by 23.1% in the 4th quarter. Renaissance Technologies LLC now owns 2,774,443 shares of the medical instruments supplier's stock valued at $10,016,000 after acquiring an additional 521,400 shares during the period. American Century Companies Inc. raised its stake in shares of OraSure Technologies by 11.4% in the 4th quarter. American Century Companies Inc. now owns 2,345,837 shares of the medical instruments supplier's stock valued at $8,468,000 after acquiring an additional 240,224 shares during the period. Millennium Management LLC raised its stake in shares of OraSure Technologies by 16.7% in the 4th quarter. Millennium Management LLC now owns 2,158,450 shares of the medical instruments supplier's stock valued at $7,792,000 after acquiring an additional 308,420 shares during the period. Geode Capital Management LLC raised its stake in shares of OraSure Technologies by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 1,844,139 shares of the medical instruments supplier's stock valued at $6,659,000 after acquiring an additional 46,325 shares during the period. Finally, Systematic Financial Management LP raised its stake in shares of OraSure Technologies by 33.7% in the 4th quarter. Systematic Financial Management LP now owns 1,673,609 shares of the medical instruments supplier's stock valued at $6,042,000 after acquiring an additional 421,497 shares during the period. Hedge funds and other institutional investors own 93.50% of the company's stock.

OraSure Technologies Trading Up 2.8%

NASDAQ OSUR opened at $2.89 on Monday. The company's fifty day simple moving average is $2.86 and its 200-day simple moving average is $3.42. OraSure Technologies, Inc. has a 52 week low of $2.36 and a 52 week high of $4.92. The stock has a market cap of $216.17 million, a P/E ratio of 19.27 and a beta of 0.43.

OraSure Technologies declared that its board has approved a share repurchase program on Monday, March 24th that permits the company to buyback $40.00 million in outstanding shares. This buyback authorization permits the medical instruments supplier to repurchase up to 15.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's management believes its stock is undervalued.

Analyst Ratings Changes

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

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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