Principal Financial Group Inc. Raises Stake in OraSure Technologies, Inc. (NASDAQ:OSUR)

Principal Financial Group Inc. increased its position in shares of OraSure Technologies, Inc. (NASDAQ:OSUR) by 3.9% during the 1st quarter, Holdings Channel reports. The firm owned 419,973 shares of the medical instruments supplier’s stock after acquiring an additional 15,652 shares during the period. Principal Financial Group Inc.’s holdings in OraSure Technologies were worth $2,583,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. AJOVista LLC bought a new stake in OraSure Technologies during the fourth quarter valued at about $39,000. Dynamic Technology Lab Private Ltd bought a new stake in OraSure Technologies during the 4th quarter valued at approximately $113,000. Baader Bank Aktiengesellschaft purchased a new position in OraSure Technologies in the 4th quarter worth approximately $115,000. Diversified Trust Co boosted its stake in OraSure Technologies by 17.7% in the 4th quarter. Diversified Trust Co now owns 16,031 shares of the medical instruments supplier’s stock worth $131,000 after purchasing an additional 2,406 shares during the period. Finally, Counterpoint Mutual Funds LLC purchased a new stake in OraSure Technologies during the 1st quarter valued at approximately $131,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

OSUR has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their target price on shares of OraSure Technologies from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Monday, May 13th. StockNews.com downgraded shares of OraSure Technologies from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. Finally, Evercore ISI reduced their target price on OraSure Technologies from $5.50 to $4.50 and set an “in-line” rating on the stock in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, OraSure Technologies presently has a consensus rating of “Hold” and an average price target of $6.13.

OraSure Technologies Stock Down 0.2 %

OraSure Technologies stock traded down $0.01 during mid-day trading on Friday, reaching $4.02. 219,959 shares of the company’s stock traded hands, compared to its average volume of 1,059,126. OraSure Technologies, Inc. has a 12-month low of $3.99 and a 12-month high of $8.45. The company has a market cap of $297.32 million, a price-to-earnings ratio of 13.43 and a beta of 0.09. The stock has a 50 day moving average of $4.77 and a two-hundred day moving average of $6.25.

OraSure Technologies (NASDAQ:OSUR) last announced its quarterly earnings results on Wednesday, May 8th. The medical instruments supplier reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates of $0.04. OraSure Technologies had a net margin of 7.50% and a return on equity of 7.68%. The firm had revenue of $54.10 million during the quarter, compared to the consensus estimate of $52.27 million. During the same quarter last year, the firm earned $0.37 EPS. The firm’s revenue for the quarter was down 65.1% compared to the same quarter last year. As a group, sell-side analysts forecast that OraSure Technologies, Inc. will post -0.08 earnings per share for the current year.

About OraSure Technologies

OraSure Technologies, Inc, together with its subsidiaries, provides point-of-care and home diagnostic tests, specimen collection devices, and microbiome laboratory and analytical services in the United States, Europe, and internationally. The company's products include InteliSwab COVID-19 rapid test, InteliSwab COVID-19 rapid test pro, InteliSwab COVID-19 rapid test rx, OraQuick Rapid HIV test, OraQuick In-Home HIV test, OraQuick HIV self-test, OraQuick HCV rapid antibody test, OraQuick Ebola rapid antigen test, OraSure oral fluid collection device used in conjunction with screening and confirmatory tests for HIV-1 antibodies; Intercept drug testing systems; immunoassay tests and reagents; and Q.E.D.