AXQ Capital LP Invests $51,000 in OraSure Technologies, Inc. (NASDAQ:OSUR)

AXQ Capital LP bought a new stake in shares of OraSure Technologies, Inc. (NASDAQ:OSUR) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 14,137 shares of the medical instruments supplier’s stock, valued at approximately $51,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Principal Financial Group Inc. increased its holdings in shares of OraSure Technologies by 28.1% during the third quarter. Principal Financial Group Inc. now owns 66,060 shares of the medical instruments supplier’s stock valued at $282,000 after acquiring an additional 14,480 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in OraSure Technologies by 78.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 28,731 shares of the medical instruments supplier’s stock valued at $123,000 after purchasing an additional 12,604 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of OraSure Technologies in the third quarter worth $84,000. BNP Paribas Financial Markets lifted its stake in shares of OraSure Technologies by 27.2% during the third quarter. BNP Paribas Financial Markets now owns 855,951 shares of the medical instruments supplier’s stock worth $3,655,000 after buying an additional 183,191 shares during the period. Finally, Martingale Asset Management L P grew its holdings in shares of OraSure Technologies by 8.2% during the third quarter. Martingale Asset Management L P now owns 262,873 shares of the medical instruments supplier’s stock valued at $1,122,000 after buying an additional 19,926 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

OraSure Technologies Trading Up 6.4 %

OSUR opened at $3.66 on Tuesday. The firm has a 50 day moving average of $3.71 and a two-hundred day moving average of $3.90. The firm has a market capitalization of $273.77 million, a PE ratio of 24.40 and a beta of -0.02. OraSure Technologies, Inc. has a 12-month low of $2.69 and a 12-month high of $6.38.

OraSure Technologies announced that its board has initiated a stock repurchase program on Monday, March 24th that permits the company to buyback $40.00 million in outstanding shares. This buyback authorization permits the medical instruments supplier to purchase up to 15.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, Director John P. Kenny bought 47,659 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was 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 in the company, valued at $224,800.55. This trade represents a 204.93 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Manner Carrie Eglinton purchased 78,625 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average cost of $3.15 per share, for a total transaction of $247,668.75. Following the completion of the acquisition, the chief executive officer now directly owns 1,259,664 shares of the company’s stock, valued at $3,967,941.60. This represents a 6.66 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 190,284 shares of company stock valued at $600,348 over the last 90 days. Insiders own 3.40% of the company’s stock.

Wall Street Analysts Forecast Growth

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

OraSure Technologies 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.