OraSure Technologies (NASDAQ:OSUR) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of OraSure Technologies (NASDAQ:OSUR - Free Report) from a sell rating to a hold rating in a research note released on Saturday morning.

OraSure Technologies Trading Up 0.8%

OSUR stock traded up $0.02 during midday trading on Friday, hitting $2.57. The company's stock had a trading volume of 632,707 shares, compared to its average volume of 856,401. The company has a market cap of $192.24 million, a PE ratio of 17.13 and a beta of 0.42. OraSure Technologies has a 12 month low of $2.36 and a 12 month high of $5.07. The firm's 50-day moving average is $3.01 and its 200-day moving average is $3.52.

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

Insider Transactions at OraSure Technologies

In other OraSure Technologies news, Director John P. Kenny acquired 47,659 shares of the firm's stock in a transaction dated Thursday, February 27th. The stock was purchased at an average price of $3.17 per share, for a total transaction of $151,079.03. Following the acquisition, the director now owns 70,915 shares in the company, valued at approximately $224,800.55. This trade represents a 204.93% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Manner Carrie Eglinton bought 78,625 shares of OraSure Technologies stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average price of $3.15 per share, with a total value of $247,668.75. Following the purchase, the chief executive officer now directly owns 1,259,664 shares in the company, valued at $3,967,941.60. The trade was a 6.66% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 190,284 shares of company stock valued at $600,348. 3.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On OraSure Technologies

A number of institutional investors have recently modified their holdings of OSUR. Principal Financial Group Inc. lifted its stake in OraSure Technologies by 10.7% in the 4th quarter. Principal Financial Group Inc. now owns 73,137 shares of the medical instruments supplier's stock worth $264,000 after purchasing an additional 7,077 shares in the last quarter. Franklin Resources Inc. raised its position in 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 period. JPMorgan Chase & Co. grew its stake 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 worth $3,621,000 after acquiring an additional 46,216 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of OraSure Technologies in the fourth quarter worth $287,000. Finally, Peapod Lane Capital LLC acquired a new position in shares of OraSure Technologies in the fourth quarter worth $1,730,000. 93.50% of the stock is currently 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.