OraSure Technologies, Inc. (NASDAQ:OSUR) Price Target Raised to $18.00 at Canaccord Genuity

OraSure Technologies, Inc. (NASDAQ:OSUR) had its price target increased by research analysts at Canaccord Genuity from $15.00 to $18.00 in a report released on Wednesday, June 28th. The brokerage currently has a “buy” rating on the medical instruments supplier’s stock. Canaccord Genuity’s target price points to a potential upside of 1.24% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Zacks Investment Research upgraded OraSure Technologies from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Saturday, May 6th. Jefferies Group LLC boosted their price target on OraSure Technologies from $12.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, May 4th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $14.89.

Shares of OraSure Technologies (OSUR) traded up 0.28% during mid-day trading on Wednesday, hitting $17.78. 525,975 shares of the stock were exchanged. OraSure Technologies has a 12 month low of $6.43 and a 12 month high of $19.33. The stock has a market cap of $1.03 billion, a PE ratio of 34.06 and a beta of 1.57. The stock’s 50 day moving average is $17.08 and its 200-day moving average is $13.26.

OraSure Technologies (NASDAQ:OSUR) last released its quarterly earnings results on Wednesday, May 3rd. The medical instruments supplier reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.04. OraSure Technologies had a return on equity of 16.06% and a net margin of 22.57%. The company had revenue of $32.55 million during the quarter, compared to analysts’ expectations of $31.19 million. During the same period in the previous year, the firm posted $0.04 earnings per share. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, analysts anticipate that OraSure Technologies will post $0.43 EPS for the current year.

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In related news, EVP Anthony Zezzo II sold 115,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $14.70, for a total value of $1,690,500.00. Following the sale, the executive vice president now directly owns 260,410 shares in the company, valued at approximately $3,828,027. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Douglas A. Michels sold 361,216 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $15.08, for a total value of $5,447,137.28. Following the completion of the sale, the chief executive officer now owns 881,620 shares in the company, valued at $13,294,829.60. The disclosure for this sale can be found here. Insiders have sold a total of 1,220,134 shares of company stock worth $18,789,795 over the last quarter. Insiders own 7.80% of the company’s stock.

Several large investors have recently added to or reduced their stakes in OSUR. Victory Capital Management Inc. bought a new stake in OraSure Technologies during the first quarter valued at $100,000. Profund Advisors LLC bought a new stake in OraSure Technologies during the first quarter valued at $137,000. BNP Paribas Arbitrage SA raised its stake in OraSure Technologies by 977.2% in the first quarter. BNP Paribas Arbitrage SA now owns 10,718 shares of the medical instruments supplier’s stock valued at $139,000 after buying an additional 9,723 shares in the last quarter. Private Advisor Group LLC raised its stake in OraSure Technologies by 7.1% in the first quarter. Private Advisor Group LLC now owns 10,923 shares of the medical instruments supplier’s stock valued at $135,000 after buying an additional 723 shares in the last quarter. Finally, Capital Fund Management S.A. bought a new stake in OraSure Technologies during the first quarter valued at $144,000. 88.65% of the stock is owned by institutional investors and hedge funds.

OraSure Technologies Company Profile

OraSure Technologies, Inc (OraSure) is involved in the development, manufacture, marketing and sale of oral fluid diagnostic products and specimen collection devices using its technologies, as well as other diagnostic products, including immunoassays and other in vitro diagnostic tests that are used on other specimen types.

Analyst Recommendations for OraSure Technologies (NASDAQ:OSUR)

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