PNC Financial Services Group Inc. lowered its stake in shares of OraSure Technologies, Inc. (NASDAQ:OSUR) by 52.4% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 22,186 shares of the medical instruments supplier’s stock after selling 24,402 shares during the period. PNC Financial Services Group Inc.’s holdings in OraSure Technologies were worth $383,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in OSUR. Alps Advisors Inc. lifted its position in shares of OraSure Technologies by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 43,257 shares of the medical instruments supplier’s stock worth $747,000 after buying an additional 111 shares in the last quarter. Profund Advisors LLC lifted its position in shares of OraSure Technologies by 2.8% during the 2nd quarter. Profund Advisors LLC now owns 10,903 shares of the medical instruments supplier’s stock worth $188,000 after buying an additional 293 shares in the last quarter. Timber Hill LLC lifted its position in shares of OraSure Technologies by 3.2% during the 2nd quarter. Timber Hill LLC now owns 11,597 shares of the medical instruments supplier’s stock worth $200,000 after buying an additional 363 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of OraSure Technologies by 0.5% during the 1st quarter. Wellington Management Group LLP now owns 111,970 shares of the medical instruments supplier’s stock worth $1,448,000 after buying an additional 587 shares in the last quarter. Finally, Arizona State Retirement System raised its holdings in shares of OraSure Technologies by 3.4% in the 2nd quarter. Arizona State Retirement System now owns 30,100 shares of the medical instruments supplier’s stock worth $520,000 after purchasing an additional 1,000 shares during the period. Institutional investors and hedge funds own 92.95% of the company’s stock.
A number of equities research analysts recently commented on the stock. Canaccord Genuity lifted their price target on shares of OraSure Technologies from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, August 3rd. Zacks Investment Research raised shares of OraSure Technologies from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Wednesday, September 20th. Jefferies Group LLC reiterated a “buy” rating and issued a $20.00 price objective on shares of OraSure Technologies in a research note on Tuesday, September 12th. Finally, BidaskClub lowered shares of OraSure Technologies from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $18.21.
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OraSure Technologies, Inc. (OSUR) opened at 21.28 on Friday. The company has a 50-day moving average of $21.63 and a 200 day moving average of $17.96. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 39.33 and a beta of 1.55. OraSure Technologies, Inc. has a 12 month low of $7.09 and a 12 month high of $23.01.
OraSure Technologies (NASDAQ:OSUR) last announced its quarterly earnings data on Wednesday, August 2nd. The medical instruments supplier reported $0.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.02. The firm had revenue of $40.18 million for the quarter, compared to the consensus estimate of $36.54 million. OraSure Technologies had a net margin of 22.29% and a return on equity of 15.64%. The company’s revenue was up 28.1% on a year-over-year basis. During the same period last year, the firm earned $0.07 EPS. On average, equities research analysts anticipate that OraSure Technologies, Inc. will post $0.48 earnings per share for the current fiscal year.
In related news, CEO Douglas A. Michels sold 22,923 shares of the firm’s stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $23.00, for a total transaction of $527,229.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Douglas A. Michels sold 25,000 shares of the firm’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $22.55, for a total transaction of $563,750.00. Following the transaction, the chief executive officer now directly owns 743,058 shares of the company’s stock, valued at $16,755,957.90. The disclosure for this sale can be found here. Insiders have sold 717,601 shares of company stock valued at $14,977,398 over the last ninety days. 6.40% of the stock is currently owned by corporate insiders.
About OraSure Technologies
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.
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