Steven Kyle Boyd Purchases 25,000 Shares of OraSure Technologies (NASDAQ:OSUR) Stock

OraSure Technologies, Inc. (NASDAQ:OSUR) Director Steven Kyle Boyd purchased 25,000 shares of the stock in a transaction on Thursday, May 14th. The shares were acquired at an average cost of $2.99 per share, with a total value of $74,750.00. Following the transaction, the director directly owned 113,462 shares in the company, valued at $339,251.38. The trade was a 28.26% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

Steven Kyle Boyd also recently made the following trade(s):

• On Tuesday, May 12th, Steven Kyle Boyd bought 25,000 shares of OraSure Technologies stock. The stock was purchased at an average cost of $2.98 per share, with a total value of $74,500.00.

OraSure Technologies Stock Performance

Shares of NASDAQ:OSUR opened at $3.00 on Friday. OraSure Technologies, Inc. has a 52-week low of $2.08 and a 52-week high of $3.82. The firm has a market capitalization of $206.55 million, a P/E ratio of -2.88 and a beta of 0.89. The stock has a 50 day moving average price of $3.06 and a 200-day moving average price of $2.76.

OraSure Technologies (NASDAQ:OSUR) last announced its earnings results on Wednesday, February 25th. The medical instruments supplier reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.02). OraSure Technologies had a negative return on equity of 18.57% and a negative net margin of 66.42%.The firm had revenue of $26.76 million during the quarter, compared to the consensus estimate of $26.44 million.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised OraSure Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 7th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $3.00.

Hedge Funds Weigh In On OraSure Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Altai Capital Management L.P. lifted its position in 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 in the last quarter. Millennium Management LLC lifted its position in 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 in the last quarter. Cannell Capital LLC lifted its position in 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 in the last quarter. Geode Capital Management LLC lifted its position in 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 in the last quarter. Finally, Kotler Kevin bought a new position in OraSure Technologies in the 4th quarter valued at approximately $4,359,000. 93.50% of the stock is owned by institutional investors.

About OraSure Technologies

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.