Martingale Asset Management L P Has $978,000 Holdings in OraSure Technologies, Inc. (NASDAQ:OSUR)

Martingale Asset Management L P increased its holdings in OraSure Technologies, Inc. (NASDAQ:OSUR) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 270,832 shares of the medical instruments supplier’s stock after buying an additional 7,959 shares during the period. Martingale Asset Management L P owned 0.36% of OraSure Technologies worth $978,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted its position in shares of OraSure Technologies by 23.1% during the 4th quarter. Renaissance Technologies LLC now owns 2,774,443 shares of the medical instruments supplier’s stock valued at $10,016,000 after acquiring an additional 521,400 shares during the period. Legal & General Group Plc lifted its position in OraSure Technologies by 32.3% during the fourth quarter. Legal & General Group Plc now owns 23,626 shares of the medical instruments supplier’s stock worth $85,000 after purchasing an additional 5,770 shares during the period. Invesco Ltd. increased its holdings in OraSure Technologies by 3.4% in the 4th quarter. Invesco Ltd. now owns 127,526 shares of the medical instruments supplier’s stock valued at $460,000 after buying an additional 4,240 shares during the period. Integrated Quantitative Investments LLC bought a new position in OraSure Technologies in the 4th quarter valued at about $184,000. Finally, RPO LLC bought a new stake in shares of OraSure Technologies during the 4th quarter worth approximately $56,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com cut OraSure Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th.

OraSure Technologies Trading Down 0.3 %

OSUR stock opened at $2.93 on Friday. The firm has a 50-day moving average price of $3.49 and a 200-day moving average price of $3.78. OraSure Technologies, Inc. has a 12 month low of $2.69 and a 12 month high of $5.75. The stock has a market capitalization of $219.16 million, a P/E ratio of 19.53 and a beta of 0.76.

OraSure Technologies announced that its board has approved a share repurchase plan on Monday, March 24th that authorizes the company to repurchase $40.00 million in outstanding shares. This repurchase authorization authorizes the medical instruments supplier to buy up to 15.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Insider Transactions at OraSure Technologies

In other news, Director John P. Kenny acquired 47,659 shares of the stock in a transaction dated Thursday, February 27th. The stock was bought at an average price of $3.17 per share, with a total value of $151,079.03. Following the completion of the purchase, the director now directly owns 70,915 shares of the company’s stock, valued at $224,800.55. This represents a 204.93 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kenneth J. Mcgrath acquired 64,000 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was acquired at an average price of $3.15 per share, with a total value of $201,600.00. Following the acquisition, the chief financial officer now owns 371,013 shares in the company, valued at $1,168,690.95. The trade was a 20.85 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 190,284 shares of company stock worth $600,348. Corporate insiders own 3.40% of the company’s stock.

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.