Raymond James lifts OraSure Technologies Inc. [OSUR] price estimate. Who else is bullish?

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OraSure Technologies Inc. [NASDAQ: OSUR] loss -9.01% or -0.3 points to close at $3.03 with a heavy trading volume of 9912991 shares. The company report on June 8, 2022 that OraSure Technologies Announces Inducement Grants Under NASDAQ Listing Rule 5635(c)(4).


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OraSure Technologies, Inc. (NASDAQ: OSUR), a global leader in point-of-care and home diagnostic testing and sample collection technologies, announced today that on June 4, 2022, OraSure’s Board of Directors granted Carrie Eglinton Manner, the Company’s newly appointed President and Chief Executive Officer, an inducement award. The award comprised of (i) a restricted stock award for 814,830 shares of the Company’s common stock, which will vest in full on June 4, 2024, (ii) a restricted stock award for 325,932 shares of the Company’s common stock, which will vest in three equal annual installments, beginning on June 4, 2023, and on each anniversary thereafter over the next two years, and (iii) a performance restricted stock unit award for a target amount of 325,932 shares of the Company’s common stock, which will vest in three equal annual installments, beginning on June 4, 2023, and on each anniversary thereafter over the next two years, subject to the achievement of the performance conditions set forth in the applicable award agreement, and in each case, subject to Ms. Manner’s continued employment through each of the relevant vesting dates.

The inducement award was granted pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules as an inducement material to Ms. Eglinton Manner entering into employment with the Company.

It opened the trading session at $3.35, the shares rose to $3.36 and dropped to $2.93, the range by which the price of stock traded the whole day. The daily chart for OSUR points out that the company has recorded -66.22% loss over the past six months. However, it is still 5.31% higher than its most recent low trading price.

If we look at the average trading volume of 751.02K shares, OSUR reached to a volume of 9912991 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about OraSure Technologies Inc. [OSUR]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OSUR shares is $7.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on OSUR stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Raymond James have made an estimate for OraSure Technologies Inc. shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on September 22, 2021. While these analysts kept the previous recommendation, Evercore ISI raised their target price to Outperform. The new note on the price target was released on August 21, 2020, representing the official price target for OraSure Technologies Inc. stock. Previously, the target price had yet another raise to $18, while JP Morgan analysts kept a Neutral rating on OSUR stock.

The Average True Range (ATR) for OraSure Technologies Inc. is set at 0.39, with the Price to Sales ratio for OSUR stock in the period of the last 12 months amounting to 0.97. The Price to Book ratio for the last quarter was 0.60, with the Price to Cash per share for the same quarter was set at 1.45.

Trading performance analysis for OSUR stock

OraSure Technologies Inc. [OSUR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -24.25. With this latest performance, OSUR shares dropped by -46.28% in over the last four-week period, additionally sinking by -66.22% over the last 6 months – not to mention a drop of -68.80% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for OSUR stock in for the last two-week period is set at 18.83, with the RSI for the last a single of trading hit 15.01, and the three-weeks RSI is set at 21.94 for OraSure Technologies Inc. [OSUR]. The present Moving Average for the last 50 days of trading for this stock 5.74, while it was recorded at 3.54 for the last single week of trading, and 8.49 for the last 200 days.

OraSure Technologies Inc. [OSUR]: A deeper dive into fundamental analysis

OraSure Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.70 and a Current Ratio set at 4.80.

OraSure Technologies Inc. [OSUR]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for OSUR. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for OraSure Technologies Inc. go to 20.00%.

An analysis of insider ownership at OraSure Technologies Inc. [OSUR]

There are presently around $214 million, or 99.40% of OSUR stock, in the hands of institutional investors. The top three institutional holders of OSUR stocks are: BLACKROCK INC. with ownership of 13,613,363, which is approximately -2.019% of the company’s market cap and around 2.20% of the total institutional ownership; BANK OF AMERICA CORP /DE/, holding 5,642,372 shares of the stock with an approximate value of $17.1 million in OSUR stocks shares; and EARNEST PARTNERS LLC, currently with $15.52 million in OSUR stock with ownership of nearly 5.172% of the company’s market capitalization.

Positions in OraSure Technologies Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 81 institutional holders increased their position in OraSure Technologies Inc. [NASDAQ:OSUR] by around 7,022,908 shares. Additionally, 87 investors decreased positions by around 3,832,674 shares, while 39 investors held positions by with 59,824,397 shares. The mentioned changes placed institutional holdings at 70,679,979 shares, according to the latest SEC report filing. OSUR stock had 20 new institutional investments in for a total of 3,785,435 shares, while 24 institutional investors sold positions of 1,830,731 shares during the same period.

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