OraSure Technologies, Inc. (NASDAQ:OSUR) Shares Acquired by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. grew its position in OraSure Technologies, Inc. (NASDAQ:OSUR - Free Report) by 76.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 926,608 shares of the medical instruments supplier's stock after acquiring an additional 401,658 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 1.24% of OraSure Technologies worth $3,345,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. lifted its position in shares of OraSure Technologies by 10.7% in the fourth quarter. Principal Financial Group Inc. now owns 73,137 shares of the medical instruments supplier's stock valued at $264,000 after acquiring an additional 7,077 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of OraSure Technologies by 28.5% in the third quarter. Franklin Resources Inc. now owns 269,269 shares of the medical instruments supplier's stock valued at $1,091,000 after purchasing an additional 59,723 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of OraSure Technologies by 5.8% in the third quarter. JPMorgan Chase & Co. now owns 847,933 shares of the medical instruments supplier's stock valued at $3,621,000 after purchasing an additional 46,216 shares during the last quarter. Barclays PLC increased its holdings in shares of OraSure Technologies by 182.6% in the third quarter. Barclays PLC now owns 195,793 shares of the medical instruments supplier's stock valued at $836,000 after purchasing an additional 126,503 shares during the last quarter. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of OraSure Technologies in the fourth quarter valued at approximately $287,000. Hedge funds and other institutional investors own 93.50% of the company's stock.

Insiders Place Their Bets

In other OraSure Technologies news, CFO Kenneth J. Mcgrath bought 64,000 shares of the business's stock in a transaction on Thursday, February 27th. The stock was bought at an average price of $3.15 per share, with a total value of $201,600.00. Following the completion of the purchase, the chief financial officer now directly owns 371,013 shares in the company, valued at $1,168,690.95. The trade was a 20.85% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John P. Kenny bought 47,659 shares of the business's stock in a transaction on Thursday, February 27th. The shares were acquired at an average cost of $3.17 per share, with a total value of $151,079.03. Following the purchase, the director now owns 70,915 shares of the company's stock, valued at $224,800.55. The trade was a 204.93% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 190,284 shares of company stock valued at $600,348 over the last quarter. 3.90% of the stock is owned by insiders.

OraSure Technologies Price Performance

Shares of NASDAQ:OSUR traded up $0.13 during midday trading on Tuesday, hitting $2.76. The company had a trading volume of 176,474 shares, compared to its average volume of 856,177. The business's 50-day simple moving average is $3.06 and its 200-day simple moving average is $3.55. The stock has a market cap of $206.07 million, a price-to-earnings ratio of 18.30 and a beta of 0.42. OraSure Technologies, Inc. has a twelve month low of $2.36 and a twelve month high of $5.08.

OraSure Technologies announced that its Board of Directors has authorized a share buyback plan on Monday, March 24th that permits the company to repurchase $40.00 million in shares. This repurchase authorization permits the medical instruments supplier to purchase up to 15.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

OSUR has been the subject of several recent research reports. StockNews.com raised OraSure Technologies from a "sell" rating to a "hold" rating in a report on Saturday. Evercore ISI reaffirmed an "in-line" rating and issued a $3.00 price target on shares of OraSure Technologies in a report on Monday.

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.