Evercore ISI Cuts OraSure Technologies (NASDAQ:OSUR) Price Target to $6.50

OraSure Technologies (NASDAQ:OSUR - Get Free Report) had its target price dropped by Evercore ISI from $7.00 to $6.50 in a report released on Thursday, Benzinga reports. The brokerage presently has an "in-line" rating on the medical instruments supplier's stock. Evercore ISI's price objective would indicate a potential upside of 8.15% from the company's previous close.

Separately, Citigroup boosted their target price on OraSure Technologies from $7.00 to $9.00 and gave the stock a "buy" rating in a research report on Monday, December 11th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $6.38.

OraSure Technologies Price Performance

Shares of OSUR traded down $0.17 during midday trading on Thursday, reaching $6.01. The stock had a trading volume of 763,176 shares, compared to its average volume of 932,006. The firm's 50 day moving average price is $6.89 and its 200-day moving average price is $6.82. The company has a market capitalization of $459.83 million, a P/E ratio of 8.35 and a beta of 0.15. OraSure Technologies has a 52 week low of $4.38 and a 52 week high of $8.45.

OraSure Technologies (NASDAQ:OSUR - Get Free Report) last announced its earnings results on Tuesday, February 27th. The medical instruments supplier reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.09. The company had revenue of $75.88 million for the quarter, compared to analyst estimates of $74.13 million. OraSure Technologies had a return on equity of 14.50% and a net margin of 13.23%. OraSure Technologies's revenue for the quarter was down 38.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.21 earnings per share. On average, equities analysts forecast that OraSure Technologies will post -0.11 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in OraSure Technologies by 1.2% during the third quarter. Vanguard Group Inc. now owns 5,396,285 shares of the medical instruments supplier's stock valued at $32,000,000 after buying an additional 64,367 shares during the period. Earnest Partners LLC raised its position in OraSure Technologies by 5.2% during the first quarter. Earnest Partners LLC now owns 5,123,334 shares of the medical instruments supplier's stock valued at $34,736,000 after buying an additional 251,955 shares during the period. Dimensional Fund Advisors LP raised its position in OraSure Technologies by 8.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,906,687 shares of the medical instruments supplier's stock valued at $32,035,000 after buying an additional 301,558 shares during the period. Cannell Capital LLC raised its position in OraSure Technologies by 25.8% during the fourth quarter. Cannell Capital LLC now owns 3,549,050 shares of the medical instruments supplier's stock valued at $29,102,000 after buying an additional 728,459 shares during the period. Finally, State Street Corp raised its position in OraSure Technologies by 1.9% during the second quarter. State Street Corp now owns 3,440,307 shares of the medical instruments supplier's stock valued at $9,323,000 after buying an additional 63,392 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

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.