OraSure Technologies (NASDAQ:OSUR) Stock Passes Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• OraSure stock crossed above its 200‑day moving average — the 200‑day MA is $2.76 and the shares traded as high as $3.23, last at $3.12 on volume of 365,416.
• Wall Street sentiment remains cautious: Weiss Ratings reaffirmed a "sell (d)" and the MarketBeat consensus is "Reduce" with an average target price of $3.00.
• Fundamentals and insiders tell different stories: the quarter missed EPS (-$0.19 vs. -$0.17) with negative margins, while the CEO and CFO each purchased 32,300 shares recently (108,643 insider shares acquired in the last 90 days).

OraSure Technologies, Inc. (NASDAQ:OSUR - Get Free Report) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $2.76 and traded as high as $3.23. OraSure Technologies shares last traded at $3.12, with a volume of 365,416 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a "sell (d)" rating on shares of OraSure Technologies in a research report on Thursday, January 22nd. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Reduce" and an average target price of $3.00.

OraSure Technologies Stock Performance

The company has a market cap of $224.55 million, a price-to-earnings ratio of -3.35 and a beta of 0.85. The business has a 50-day simple moving average of $3.01 and a 200-day simple moving average of $2.76.

OraSure Technologies (NASDAQ:OSUR - Get Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The medical instruments supplier reported ($0.19) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.02). The company had revenue of $26.76 million during the quarter, compared to analyst estimates of $26.44 million. OraSure Technologies had a negative net margin of 59.76% and a negative return on equity of 16.45%.

Insider Transactions at OraSure Technologies

In related news, CEO Manner Carrie Eglinton purchased 32,300 shares of OraSure Technologies stock in a transaction on Friday, March 20th. The shares were bought at an average price of $2.93 per share, with a total value of $94,639.00. Following the transaction, the chief executive officer directly owned 2,190,874 shares of the company's stock, valued at approximately $6,419,260.82. This trade represents a 1.50% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kenneth J. Mcgrath acquired 32,300 shares of the company's stock in a transaction dated Friday, March 20th. The stock was acquired at an average price of $2.93 per share, for a total transaction of $94,639.00. Following the acquisition, the chief financial officer owned 589,562 shares in the company, valued at approximately $1,727,416.66. The trade was a 5.80% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 108,643 shares of company stock worth $321,407 in the last ninety days. 3.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Altai Capital Management L.P. increased its holdings in shares of OraSure Technologies by 73.4% in the 3rd quarter. Altai Capital Management L.P. now owns 3,748,836 shares of the medical instruments supplier's stock valued at $12,034,000 after acquiring an additional 1,586,488 shares during the last quarter. Millennium Management LLC increased its holdings in shares of OraSure Technologies by 71.1% in the 3rd quarter. Millennium Management LLC now owns 2,112,507 shares of the medical instruments supplier's stock valued at $6,781,000 after acquiring an additional 878,151 shares during the last quarter. Cannell Capital LLC increased its holdings in shares of OraSure Technologies by 12.6% in the 3rd quarter. Cannell Capital LLC now owns 2,099,815 shares of the medical instruments supplier's stock valued at $6,740,000 after acquiring an additional 234,826 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of OraSure Technologies by 6.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,869,868 shares of the medical instruments supplier's stock valued at $5,611,000 after acquiring an additional 112,851 shares during the last quarter. Finally, Kotler Kevin purchased a new position in shares of OraSure Technologies in the 4th quarter valued at about $4,359,000. Hedge funds and other institutional investors own 93.50% of the company's stock.

OraSure Technologies Company Profile

OraSure Technologies, Inc is a Bethlehem, Pennsylvania–based diagnostic and medical device company specializing in the development, manufacture and commercialization of point-of-care and self-testing products. Founded in 1988, OraSure has built a portfolio of oral fluid and other non-invasive specimen collection technologies that support the detection of infectious diseases, drugs of abuse, and health and wellness biomarkers.

The company's flagship product, the OraQuick® rapid HIV test, was the first Food and Drug Administration–approved over-the-counter oral fluid test for the detection of HIV-1/2 antibodies.

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