OraSure Technologies, Inc. (NASDAQ:OSUR) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC cut its holdings in shares of OraSure Technologies, Inc. (NASDAQ:OSUR - Free Report) by 37.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 233,785 shares of the medical instruments supplier's stock after selling 137,585 shares during the period. Hsbc Holdings PLC owned about 0.31% of OraSure Technologies worth $843,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in OSUR. Principal Financial Group Inc. grew its holdings in OraSure Technologies by 10.7% during the fourth quarter. Principal Financial Group Inc. now owns 73,137 shares of the medical instruments supplier's stock worth $264,000 after acquiring an additional 7,077 shares during the period. Franklin Resources Inc. grew its stake in shares of OraSure Technologies by 28.5% during the 3rd quarter. Franklin Resources Inc. now owns 269,269 shares of the medical instruments supplier's stock worth $1,091,000 after purchasing an additional 59,723 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of OraSure Technologies by 5.8% during the 3rd 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 in the last quarter. Barclays PLC boosted its holdings in OraSure Technologies by 182.6% during the third quarter. Barclays PLC now owns 195,793 shares of the medical instruments supplier's stock worth $836,000 after buying an additional 126,503 shares in the last quarter. Finally, Exchange Traded Concepts LLC acquired a new stake in OraSure Technologies during the fourth quarter valued at $287,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

OraSure Technologies Stock Performance

Shares of NASDAQ OSUR opened at $2.98 on Monday. The firm has a market cap of $230.91 million, a PE ratio of 19.87 and a beta of 0.42. OraSure Technologies, Inc. has a one year low of $2.69 and a one year high of $5.59. The firm has a fifty day moving average of $3.22 and a 200 day moving average of $3.66.

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

Wall Street Analyst Weigh In

Separately, StockNews.com lowered OraSure Technologies from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th.

Insider Transactions at OraSure Technologies

In other news, CFO Kenneth J. Mcgrath acquired 64,000 shares of the business's stock in a transaction on Thursday, February 27th. The stock was bought at an average cost of $3.15 per share, for a total transaction of $201,600.00. Following the purchase, the chief financial officer now owns 371,013 shares in the company, valued at approximately $1,168,690.95. This represents a 20.85 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John P. Kenny bought 47,659 shares of OraSure Technologies stock in a transaction on Thursday, February 27th. The shares were purchased at an average cost of $3.17 per share, with a total value of $151,079.03. Following the acquisition, the director now directly owns 70,915 shares of the company's stock, valued at approximately $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 purchased 190,284 shares of company stock valued at $600,348 over the last 90 days. Corporate insiders own 3.90% of the company's stock.

About OraSure Technologies

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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