Insider Buying: OraSure Technologies (NASDAQ:OSUR) CEO Purchases 22,022 Shares of Stock

OraSure Technologies, Inc. (NASDAQ:OSUR) CEO Manner Carrie Eglinton bought 22,022 shares of the stock in a transaction on Friday, March 13th. The shares were acquired at an average cost of $3.00 per share, for a total transaction of $66,066.00. Following the acquisition, the chief executive officer directly owned 2,158,574 shares in the company, valued at approximately $6,475,722. This trade represents a 1.03% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

OraSure Technologies Stock Performance

NASDAQ OSUR traded up $0.16 during trading hours on Monday, hitting $3.13. The company had a trading volume of 429,125 shares, compared to its average volume of 517,841. OraSure Technologies, Inc. has a 52 week low of $2.08 and a 52 week high of $4.22. The firm has a 50 day simple moving average of $2.83 and a 200 day simple moving average of $2.79. The firm has a market capitalization of $216.38 million, a price-to-earnings ratio of -3.37 and a beta of 0.88.

OraSure Technologies (NASDAQ:OSUR) last announced 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 net margin of 59.76% and a negative return on equity of 16.45%. The company had revenue of $26.76 million for the quarter, compared to the consensus estimate of $26.44 million. On average, research analysts forecast that OraSure Technologies, Inc. will post -0.08 earnings per share for the current year.

Hedge Funds Weigh In On OraSure Technologies

Institutional investors have recently made changes to their positions in the stock. Prudential Financial Inc. purchased a new stake in shares of OraSure Technologies during the 2nd quarter valued at $31,000. Quadrature Capital Ltd purchased a new position in OraSure Technologies in the fourth quarter worth $28,000. Nierenberg Investment Management Company Inc. bought a new position in OraSure Technologies in the second quarter valued at $35,000. L2 Asset Management LLC purchased a new stake in OraSure Technologies during the second quarter valued at about $39,000. Finally, Coldstream Capital Management Inc. raised its position in OraSure Technologies by 128.2% during the second quarter. Coldstream Capital Management Inc. now owns 13,308 shares of the medical instruments supplier’s stock valued at $40,000 after purchasing an additional 7,477 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of OraSure Technologies in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $3.00.

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.