Principal Financial Group Inc. Buys 14,480 Shares of OraSure Technologies, Inc. (NASDAQ:OSUR)

Principal Financial Group Inc. increased its stake in OraSure Technologies, Inc. (NASDAQ:OSUR) by 28.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 66,060 shares of the medical instruments supplier’s stock after acquiring an additional 14,480 shares during the period. Principal Financial Group Inc.’s holdings in OraSure Technologies were worth $282,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Creative Planning bought a new position in shares of OraSure Technologies in the 3rd quarter worth approximately $54,000. SG Americas Securities LLC purchased a new position in OraSure Technologies during the first quarter valued at $72,000. Mackenzie Financial Corp bought a new stake in shares of OraSure Technologies during the 2nd quarter valued at $72,000. Shikiar Asset Management Inc. purchased a new stake in shares of OraSure Technologies in the 2nd quarter worth about $96,000. Finally, SkyView Investment Advisors LLC increased its stake in shares of OraSure Technologies by 100.0% in the 2nd quarter. SkyView Investment Advisors LLC now owns 24,000 shares of the medical instruments supplier’s stock worth $102,000 after acquiring an additional 12,000 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. StockNews.com upgraded OraSure Technologies from a “hold” rating to a “buy” rating in a research note on Friday, October 4th. Evercore ISI lifted their price target on OraSure Technologies from $4.50 to $5.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 7th.

OraSure Technologies Price Performance

Shares of NASDAQ:OSUR opened at $3.93 on Tuesday. The firm’s 50 day simple moving average is $4.14 and its two-hundred day simple moving average is $4.34. The company has a market capitalization of $293.14 million, a P/E ratio of 25.87 and a beta of 0.05. OraSure Technologies, Inc. has a 1-year low of $3.72 and a 1-year high of $8.45.

OraSure Technologies (NASDAQ:OSUR) last issued its earnings results on Wednesday, November 6th. The medical instruments supplier reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.02. The company had revenue of $39.92 million during the quarter, compared to the consensus estimate of $38.97 million. OraSure Technologies had a net margin of 5.07% and a return on equity of 3.55%. OraSure Technologies’s quarterly revenue was down 55.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.27 EPS. On average, sell-side analysts anticipate that OraSure Technologies, Inc. will post -0.09 earnings per share for the current fiscal year.

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.