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Carrie Eglinton Manner, President and CEO of Orasure Technologies Inc. (NASDAQ:OSUR), made a notable acquisition of the company’s common stock. According to a recent SEC filing, Eglinton Manner purchased 28,670 shares on February 28, 2025, at a weighted average price of $3.4889 per share. The total value of this transaction amounted to approximately $100,026. The purchase comes as InvestingPro data shows the stock trading significantly below its Fair Value, with shares down nearly 13% in the past week.
The purchase was conducted in the open market, with share prices ranging from $3.38 to $3.55. Following this transaction, Eglinton Manner’s direct ownership in Orasure Technologies increased to 1,288,334 shares. This move reflects a significant investment in the company by its top executive, particularly notable as analysts expect profitability this year despite recent challenges. InvestingPro analysis reveals 10+ additional investment insights, including detailed insider trading patterns and comprehensive valuation metrics, available in the Pro Research Report.
In other recent news, OraSure Technologies reported its fourth-quarter 2024 earnings, revealing a revenue of $37.4 million, which exceeded forecasts and aligned with company guidance. This revenue beat was driven by a 10% year-over-year growth in core revenue, despite the company’s gross margin of 40.1% falling short of expectations due to a shift in international sales mix and lower COVID-19 testing revenue. Looking ahead, OraSure has provided guidance for the first quarter of 2025, expecting total revenue to range between $27.5 million and $31.5 million. The company anticipates core revenue to remain flat year-over-year, with the ongoing uncertainties in U.S. funding affecting future projections.
Citi analyst Patrick Donnelly responded to these developments by lowering the price target for OraSure’s stock from $9 to $6, while maintaining a Buy rating. This adjustment reflects the anticipated decrease in revenue figures due to uncertainties in funding for HIV testing programs. Additionally, OraSure ended the fourth quarter with a strong cash position of $268 million and aims to increase its gross margin to 50% through operational efficiencies. The company has also been focusing on expanding its molecular diagnostics platform, highlighted by the acquisition of Sherlock Biosciences, which is expected to drive future growth. Despite these advancements, the market reacted negatively to the earnings report, reflecting investor concerns over future profitability and market uncertainties.
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