Principal Financial Group Inc. Has $2.58 Million Position in OraSure Technologies, Inc. (NASDAQ:OSUR)

Principal Financial Group Inc. increased its stake in shares of OraSure Technologies, Inc. (NASDAQ:OSUR) by 3.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 419,973 shares of the medical instruments supplier’s stock after purchasing an additional 15,652 shares during the quarter. Principal Financial Group Inc. owned approximately 0.55% of OraSure Technologies worth $2,583,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pacer Advisors Inc. increased its holdings in shares of OraSure Technologies by 122.5% during the fourth quarter. Pacer Advisors Inc. now owns 2,403,333 shares of the medical instruments supplier’s stock worth $19,707,000 after buying an additional 1,323,197 shares in the last quarter. Cannell Capital LLC raised its position in OraSure Technologies by 36.5% in the third quarter. Cannell Capital LLC now owns 2,820,591 shares of the medical instruments supplier’s stock valued at $16,726,000 after purchasing an additional 753,901 shares during the last quarter. AQR Capital Management LLC raised its position in OraSure Technologies by 118.0% in the third quarter. AQR Capital Management LLC now owns 935,510 shares of the medical instruments supplier’s stock valued at $5,548,000 after purchasing an additional 506,312 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of 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 purchasing an additional 301,558 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of OraSure Technologies by 135.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 492,477 shares of the medical instruments supplier’s stock worth $3,029,000 after purchasing an additional 283,001 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Evercore ISI cut their target price on shares of OraSure Technologies from $5.50 to $4.50 and set an “in-line” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. reduced their price objective on shares of OraSure Technologies from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Monday, May 13th. Finally, StockNews.com lowered OraSure Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, OraSure Technologies currently has a consensus rating of “Hold” and an average price target of $6.13.

OraSure Technologies Price Performance

Shares of OSUR traded down $0.01 during trading hours on Friday, hitting $4.02. 219,959 shares of the stock were exchanged, compared to its average volume of 1,059,126. The firm has a market capitalization of $297.32 million, a P/E ratio of 13.43 and a beta of 0.09. OraSure Technologies, Inc. has a fifty-two week low of $3.99 and a fifty-two week high of $8.45. The business has a 50-day moving average of $4.77 and a 200-day moving average of $6.25.

OraSure Technologies (NASDAQ:OSUR) last issued its quarterly earnings results on Wednesday, May 8th. The medical instruments supplier reported $0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.04. The firm had revenue of $54.10 million during the quarter, compared to the consensus estimate of $52.27 million. OraSure Technologies had a return on equity of 7.68% and a net margin of 7.50%. The business’s revenue was down 65.1% compared to the same quarter last year. During the same period last year, the business posted $0.37 EPS. As a group, analysts forecast that OraSure Technologies, Inc. will post -0.08 earnings per share for the current fiscal 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.