OraSure Technologies (NASDAQ:OSUR) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

OraSure Technologies, Inc. (NASDAQ:OSUR) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.79 and traded as high as $3.04. OraSure Technologies shares last traded at $2.98, with a volume of 468,937 shares trading hands.

Analyst Ratings Changes

A number of brokerages have recently issued reports on OSUR. Weiss Ratings reiterated a “sell (d)” rating on shares of OraSure Technologies in a report on Thursday, January 22nd. Stephens cut their price target on OraSure Technologies from $3.50 to $3.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 12th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, OraSure Technologies has a consensus rating of “Reduce” and an average target price of $3.00.

OraSure Technologies Price Performance

The company’s fifty day moving average price is $2.73 and its 200 day moving average price is $2.79. The company has a market cap of $213.76 million, a PE ratio of -3.20 and a beta of 0.88.

OraSure Technologies (NASDAQ:OSUR) last released its quarterly earnings results on Wednesday, February 25th. The medical instruments supplier reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.02). OraSure Technologies had a negative return on equity of 16.45% and a negative net margin of 59.76%.The firm had revenue of $26.76 million for the quarter, compared to analysts’ expectations of $26.44 million. On average, analysts forecast that OraSure Technologies, Inc. will post -0.08 EPS for the current year.

Institutional Trading of OraSure Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the business. Kotler Kevin bought a new position in OraSure Technologies in the 4th quarter valued at $4,359,000. Altai Capital Management L.P. grew its position in OraSure Technologies by 73.4% during the third 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 buying an additional 1,586,488 shares during the period. Private Management Group Inc. increased its holdings in OraSure Technologies by 23.6% during the second quarter. Private Management Group Inc. now owns 5,461,440 shares of the medical instruments supplier’s stock worth $16,384,000 after buying an additional 1,044,213 shares during the last quarter. Millennium Management LLC raised its position in OraSure Technologies by 71.1% in the third quarter. Millennium Management LLC now owns 2,112,507 shares of the medical instruments supplier’s stock worth $6,781,000 after acquiring an additional 878,151 shares during the period. Finally, Systematic Financial Management LP raised its position in OraSure Technologies by 35.3% in the second quarter. Systematic Financial Management LP now owns 2,229,076 shares of the medical instruments supplier’s stock worth $6,687,000 after acquiring an additional 581,926 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

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.