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Carrie Eglinton Manner, the President and CEO of OraSure Technologies Inc. (NASDAQ:OSUR), recently acquired 78,625 shares of the company’s common stock. The purchase comes as the stock trades near its 52-week low of $2.69, with InvestingPro analysis indicating the stock is currently undervalued. The shares were purchased on February 27, 2025, in the open market at a weighted average price of $3.1463 per share, with prices ranging from $3.05 to $3.27. This transaction amounted to a total value of approximately $247,377. Following this purchase, Eglinton Manner now holds 1,259,664 shares of OraSure Technologies directly. Analysts maintain price targets between $4 and $6, suggesting potential upside. For deeper insights into insider trading patterns and comprehensive analysis, check out the detailed OraSure Technologies Pro Research Report, available exclusively on InvestingPro.
In other recent news, OraSure Technologies reported its fourth-quarter 2024 earnings, surpassing revenue forecasts with $37.45 million, slightly above the expected $36.72 million. Despite the revenue beat, the company’s gross margin of 40.1% fell short of the consensus expectation of 43.4%, attributed to reduced COVID-19 testing revenue and changes in international sales mix. Citi analyst Patrick Donnelly responded to these results by lowering the price target for OraSure to $6 from $9, while maintaining a Buy rating, reflecting concerns over future revenue uncertainties. The company has provided guidance for the first quarter of 2025, projecting revenues between $27.5 million and $31.5 million, with core business expected to generate most of this figure. OraSure’s management highlighted ongoing challenges, including uncertainties in U.S. funding, which have led some customers to scale back their activities. Additionally, OraSure ended the quarter with a strong cash position of $268 million and aims to achieve a 50% gross margin through operational efficiencies. The company also noted strategic acquisitions, such as Sherlock Biosciences, and product innovations as key drivers for future growth.
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