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Kenny John P., a director at Orasure Technologies Inc. (NASDAQ:OSUR), recently acquired a significant number of shares in the company. According to a Form 4 filing with the Securities and Exchange Commission, John purchased 47,659 shares of Orasure common stock on February 27, 2025. The shares were bought at a weighted average price of $3.1729 each, amounting to a total investment of approximately $151,217. This insider purchase comes as the stock trades near its 52-week low of $2.69, with InvestingPro analysis indicating the company is currently undervalued.
The transaction was executed in multiple trades, with prices ranging from $3.08 to $3.21 per share. Following this purchase, John now directly owns 70,915 shares in the company. Orasure Technologies, based in Bethlehem, Pennsylvania, specializes in the production of surgical and medical instruments and apparatus. The company maintains a strong financial position with a current ratio of 9.95 and more cash than debt on its balance sheet. According to InvestingPro data, analysts expect the company to return to profitability this year, with 10+ additional insights available for subscribers.
In other recent news, OraSure Technologies reported fourth-quarter 2024 earnings, revealing a revenue of $37.4 million, which exceeded analyst expectations by approximately $730,000. The company’s core revenue grew by 10% year-over-year, driven by strong sales in HIV, HCV, and syphilis testing, though its gross margin of 40.1% fell short of the anticipated 43.4%. Despite the revenue beat, Citi adjusted its price target for OraSure from $9 to $6, maintaining a Buy rating on the stock, indicating ongoing investor concerns about future profitability and market uncertainties. OraSure’s management provided guidance for the first quarter of 2025, projecting revenues between $27.5 million and $31.5 million, with the core business expected to generate $27 to $31 million. The company has also been focusing on strategic acquisitions and product innovations, including the acquisition of Sherlock Biosciences, expected to bolster its molecular diagnostics platform. Additionally, OraSure ended the quarter with a strong cash position of $268 million and aims to expand its gross margin to 50% through operational efficiencies. However, uncertainties in U.S. funding and international markets continue to pose challenges, impacting the company’s revenue outlook for the upcoming quarter.
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