Shell Asset Management Co. Cuts Stake in OraSure Technologies, Inc. (NASDAQ:OSUR)

Posted by on Mar 2nd, 2023

Shell Asset Management Co. reduced its stake in OraSure Technologies, Inc. (NASDAQ:OSUR – Get Rating) by 20.8% during the third quarter, according to its most recent filing with the SEC. The fund owned 32,127 shares of the medical instruments supplier’s stock after selling 8,441 shares during the quarter. Shell Asset Management Co.’s holdings in OraSure Technologies were worth $122,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Advisor Group Holdings Inc. increased its position in shares of OraSure Technologies by 12.0% during the first quarter. Advisor Group Holdings Inc. now owns 20,720 shares of the medical instruments supplier’s stock valued at $163,000 after buying an additional 2,225 shares during the period. Brinker Capital Investments LLC boosted its stake in shares of OraSure Technologies by 5.2% during the first quarter. Brinker Capital Investments LLC now owns 78,023 shares of the medical instruments supplier’s stock valued at $529,000 after purchasing an additional 3,881 shares during the period. Barclays PLC boosted its stake in shares of OraSure Technologies by 22.0% during the third quarter. Barclays PLC now owns 27,567 shares of the medical instruments supplier’s stock valued at $105,000 after purchasing an additional 4,974 shares during the period. UBS Group AG boosted its stake in shares of OraSure Technologies by 82.3% during the third quarter. UBS Group AG now owns 11,217 shares of the medical instruments supplier’s stock valued at $42,000 after purchasing an additional 5,064 shares during the period. Finally, 1832 Asset Management L.P. bought a new position in shares of OraSure Technologies during the first quarter valued at approximately $40,000. 85.62% of the stock is owned by hedge funds and other institutional investors.

OraSure Technologies Price Performance

Shares of NASDAQ:OSUR opened at $6.15 on Thursday. OraSure Technologies, Inc. has a 1-year low of $2.62 and a 1-year high of $7.78. The business has a fifty day moving average price of $5.28 and a 200-day moving average price of $4.69. The company has a market capitalization of $446.61 million, a PE ratio of -23.65 and a beta of 0.16.

OraSure Technologies (NASDAQ:OSUR – Get Rating) last issued its quarterly earnings results on Tuesday, February 14th. The medical instruments supplier reported $0.21 earnings per share for the quarter. OraSure Technologies had a negative return on equity of 0.42% and a negative net margin of 4.63%. The firm had revenue of $123.08 million during the quarter, compared to the consensus estimate of $96.88 million. During the same period last year, the company earned ($0.14) earnings per share. The company’s revenue was up 93.6% on a year-over-year basis. On average, sell-side analysts anticipate that OraSure Technologies, Inc. will post 0.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on OSUR shares. StockNews.com upgraded OraSure Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, November 8th. Evercore ISI assumed coverage on OraSure Technologies in a report on Tuesday, January 3rd. They set a $5.00 price target for the company.

OraSure Technologies Profile

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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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Institutional Ownership by Quarter for OraSure Technologies (NASDAQ:OSUR)

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