OraSure Technologies, Inc. (NASDAQ:OSUR) Short Interest Update

OraSure Technologies, Inc. (NASDAQ:OSUR - Get Free Report) was the target of a large decline in short interest in March. As of March 31st, there was short interest totalling 2,960,000 shares, a decline of 29.2% from the March 15th total of 4,180,000 shares. Based on an average daily volume of 936,100 shares, the days-to-cover ratio is presently 3.2 days. Approximately 4.2% of the shares of the stock are sold short.

Analyst Ratings Changes

Separately, Evercore ISI decreased their price target on shares of OraSure Technologies from $7.00 to $6.50 and set an "in-line" rating on the stock in a research note on Thursday, April 4th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $6.38.

Hedge Funds Weigh In On OraSure Technologies

Hedge funds have recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. grew its stake in OraSure Technologies by 12.0% in the 1st quarter. Advisor Group Holdings Inc. now owns 20,720 shares of the medical instruments supplier's stock worth $163,000 after acquiring an additional 2,225 shares in the last quarter. Swiss National Bank grew its stake in OraSure Technologies by 7.7% in the 1st quarter. Swiss National Bank now owns 170,300 shares of the medical instruments supplier's stock worth $1,155,000 after acquiring an additional 12,200 shares in the last quarter. JPMorgan Chase & Co. grew its stake in OraSure Technologies by 22.8% in the 1st quarter. JPMorgan Chase & Co. now owns 67,370 shares of the medical instruments supplier's stock worth $457,000 after acquiring an additional 12,505 shares in the last quarter. Citigroup Inc. lifted its position in shares of OraSure Technologies by 9.4% in the 1st quarter. Citigroup Inc. now owns 82,512 shares of the medical instruments supplier's stock worth $559,000 after purchasing an additional 7,103 shares during the period. Finally, MetLife Investment Management LLC lifted its position in shares of OraSure Technologies by 51.2% in the 1st quarter. MetLife Investment Management LLC now owns 43,288 shares of the medical instruments supplier's stock worth $293,000 after purchasing an additional 14,653 shares during the period. 93.50% of the stock is currently owned by institutional investors.

OraSure Technologies Stock Down 4.3 %

NASDAQ:OSUR traded down $0.25 during mid-day trading on Friday, hitting $5.52. 416,620 shares of the stock traded hands, compared to its average volume of 910,217. The stock has a market capitalization of $422.34 million, a price-to-earnings ratio of 7.64 and a beta of 0.15. OraSure Technologies has a 52 week low of $4.38 and a 52 week high of $8.45. The firm's 50 day moving average is $6.72 and its two-hundred day moving average is $6.83.

OraSure Technologies (NASDAQ:OSUR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 27th. The medical instruments supplier reported $0.22 EPS for the quarter, beating the consensus estimate of $0.13 by $0.09. The company had revenue of $75.88 million for the quarter, compared to the consensus estimate of $74.13 million. OraSure Technologies had a net margin of 13.23% and a return on equity of 14.50%. The firm's revenue was down 38.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.21 EPS. As a group, research analysts predict that OraSure Technologies will post -0.11 EPS for the current year.

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.