OraSure Technologies (NASDAQ:OSUR) Announces Earnings Results, Meets Expectations

OraSure Technologies (NASDAQ:OSUR) issued its earnings results on Wednesday. The medical instruments supplier reported $0.04 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.04, Briefing.com reports. The business had revenue of $54.10 million during 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 business’s revenue for the quarter was down 65.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.37 EPS. OraSure Technologies updated its Q2 2024 guidance to EPS.

OraSure Technologies Trading Down 4.9 %

OraSure Technologies stock traded down $0.26 during midday trading on Thursday, reaching $5.05. The stock had a trading volume of 1,166,001 shares, compared to its average volume of 870,199. The company has a fifty day moving average price of $6.07 and a two-hundred day moving average price of $6.80. OraSure Technologies has a 12 month low of $4.38 and a 12 month high of $8.45. The company has a market capitalization of $386.38 million, a P/E ratio of 7.07 and a beta of 0.23.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Evercore ISI dropped their price objective on shares of OraSure Technologies from $7.00 to $6.50 and set an “in-line” rating for the company in a 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 research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has a consensus 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.