OraSure Technologies (NASDAQ:OSUR) Issues Quarterly Earnings Results, Hits Estimates

OraSure Technologies (NASDAQ:OSUR) released its quarterly earnings data on Wednesday. The medical instruments supplier reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04, Briefing.com reports. The business had revenue of $54.10 million for the quarter, compared to analysts’ expectations of $52.27 million. OraSure Technologies had a return on equity of 14.50% and a net margin of 13.23%. The firm’s quarterly revenue was down 65.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.37 EPS. OraSure Technologies updated its Q2 2024 guidance to EPS.

OraSure Technologies Trading Down 4.9 %

Shares of OraSure Technologies stock traded down $0.26 on Thursday, hitting $5.05. 1,166,001 shares of the company traded hands, compared to its average volume of 870,199. The stock’s 50 day moving average price is $6.07 and its 200-day moving average price is $6.80. OraSure Technologies has a 52 week low of $4.38 and a 52 week high of $8.45. The company has a market cap of $386.38 million, a PE ratio of 7.07 and a beta of 0.23.

Analysts Set New Price Targets

Several research firms recently commented on OSUR. Evercore ISI dropped their price target on OraSure Technologies from $7.00 to $6.50 and set an “in-line” rating for the company in a research report on Thursday, April 4th. StockNews.com upgraded OraSure Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $6.38.

OraSure Technologies Company Profile

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.