OraSure Technologies (NASDAQ:OSUR) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of OraSure Technologies (NASDAQ:OSUR) from a hold rating to a sell rating in a report released on Tuesday morning, Zacks.com reports.

According to Zacks, “OraSure Technologies, Inc. develops, manufactures and markets oral fluid specimen collection devices using proprietary oral fluid technologies, diagnostic products including immunoassays and other in vitro diagnostic tests, and other medical devices. These products are sold in the United States as well as internationally to various clinical laboratories, hospitals, clinics, community-based organizations and other public health organizations, distributors, government agencies, physicians’ offices, and commercial and industrial entities. OraSure Technologies is the leading supplier of oral-fluid collection devices and in vitro diagnostic assays to the employment, criminal justice, drug treatment, life insurance and public health markets for the detection of abused drugs and the antibodies to HIV. Based in Bethlehem, Pennsylvania, the Company develops, manufactures and markets oral specimen collection devices, in vitro diagnostic tests, and other medical devices. “

Several other analysts also recently commented on the stock. Lake Street Capital decreased their price objective on shares of OraSure Technologies from $20.00 to $14.00 and set a buy rating on the stock in a research report on Thursday, January 6th. Raymond James cut shares of OraSure Technologies from an outperform rating to a market perform rating in a research note on Wednesday, September 22nd.

Shares of OSUR stock opened at $8.51 on Tuesday. The company has a market capitalization of $613.04 million, a price-to-earnings ratio of -56.73 and a beta of -0.36. OraSure Technologies has a one year low of $7.56 and a one year high of $15.94. The company’s fifty day moving average price is $9.08 and its 200-day moving average price is $10.27. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.34 and a quick ratio of 4.35.

OraSure Technologies (NASDAQ:OSUR) last announced its quarterly earnings data on Wednesday, November 3rd. The medical instruments supplier reported ($0.21) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.16). The firm had revenue of $53.92 million for the quarter, compared to the consensus estimate of $47.54 million. OraSure Technologies had a negative net margin of 4.61% and a negative return on equity of 2.70%. During the same quarter in the previous year, the business earned $0.01 earnings per share. Equities research analysts expect that OraSure Technologies will post -0.34 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. grew its stake in shares of OraSure Technologies by 18.4% in the 2nd quarter. BlackRock Inc. now owns 14,054,164 shares of the medical instruments supplier’s stock worth $142,510,000 after buying an additional 2,180,891 shares in the last quarter. Bank of America Corp DE grew its stake in shares of OraSure Technologies by 6.0% in the 2nd quarter. Bank of America Corp DE now owns 5,278,091 shares of the medical instruments supplier’s stock worth $53,520,000 after buying an additional 300,879 shares in the last quarter. Camber Capital Management LP grew its stake in shares of OraSure Technologies by 18.9% in the 3rd quarter. Camber Capital Management LP now owns 4,250,000 shares of the medical instruments supplier’s stock worth $48,068,000 after buying an additional 675,000 shares in the last quarter. American Capital Management Inc. grew its stake in shares of OraSure Technologies by 0.6% in the 2nd quarter. American Capital Management Inc. now owns 3,657,359 shares of the medical instruments supplier’s stock worth $37,086,000 after buying an additional 20,433 shares in the last quarter. Finally, State Street Corp grew its stake in shares of OraSure Technologies by 9.4% in the 2nd quarter. State Street Corp now owns 3,276,368 shares of the medical instruments supplier’s stock worth $33,222,000 after buying an additional 282,684 shares in the last quarter. 92.74% of the stock is owned by institutional investors.

OraSure Technologies Company Profile

OraSure Technologies, Inc engages in the development, manufacture, and distribution of point of care diagnostic tests and molecular collection devices designed to detect or diagnose critical medical conditions. It operates through the OSUR and DNAG segments. The OSUR segment offer oral fluid diagnostic products and specimen collection devices.

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