Bridgeway Capital Management LLC Purchases 143,487 Shares of OraSure Technologies, Inc. (NASDAQ:OSUR)

Bridgeway Capital Management LLC increased its position in OraSure Technologies, Inc. (NASDAQ:OSUR) by 13.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,230,106 shares of the medical instruments supplier’s stock after acquiring an additional 143,487 shares during the quarter. Bridgeway Capital Management LLC’s holdings in OraSure Technologies were worth $4,441,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its position in OraSure Technologies by 5.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 76,932 shares of the medical instruments supplier’s stock valued at $278,000 after buying an additional 3,828 shares during the period. Invesco Ltd. grew its position in shares of OraSure Technologies by 3.4% during the 4th quarter. Invesco Ltd. now owns 127,526 shares of the medical instruments supplier’s stock valued at $460,000 after acquiring an additional 4,240 shares during the period. Tower Research Capital LLC TRC raised its holdings in OraSure Technologies by 202.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,821 shares of the medical instruments supplier’s stock worth $28,000 after purchasing an additional 5,234 shares during the period. Legal & General Group Plc grew its holdings 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 valued at $85,000 after purchasing an additional 5,770 shares during the period. Finally, Orion Portfolio Solutions LLC increased its position in OraSure Technologies by 10.7% in the fourth quarter. Orion Portfolio Solutions LLC now owns 61,170 shares of the medical instruments supplier’s stock worth $221,000 after buying an additional 5,929 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

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

OraSure Technologies Stock Performance

Shares of OSUR opened at $2.81 on Thursday. OraSure Technologies, Inc. has a fifty-two week low of $2.69 and a fifty-two week high of $5.55. The stock has a market capitalization of $217.35 million, a PE ratio of 18.70 and a beta of 0.42. The company’s fifty day moving average is $3.19 and its 200 day moving average is $3.64.

OraSure Technologies (NASDAQ:OSUR) last released its quarterly earnings results on Wednesday, May 7th. The medical instruments supplier reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.06). OraSure Technologies had a net margin of 5.07% and a return on equity of 3.55%. The company had revenue of $29.93 million for the quarter, compared to analysts’ expectations of $29.57 million. As a group, research analysts forecast that OraSure Technologies, Inc. will post -0.08 earnings per share for the current year.

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

Insider Transactions at OraSure Technologies

In related news, Director John P. Kenny purchased 47,659 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were acquired at an average cost of $3.17 per share, for a total transaction of $151,079.03. Following the acquisition, the director now owns 70,915 shares of the company’s stock, valued at $224,800.55. The trade was a 204.93 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kenneth J. Mcgrath bought 64,000 shares of OraSure Technologies stock in a transaction on Thursday, February 27th. The stock was purchased at an average price of $3.15 per share, with a total value of $201,600.00. Following the completion of the acquisition, the chief financial officer now directly owns 371,013 shares of the company’s stock, valued at $1,168,690.95. This represents a 20.85 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 190,284 shares of company stock worth $600,348. 3.90% of the stock is currently owned by insiders.

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.