Orasure Tech Inc Up 13.09% To $7.95 After Earnings Beat

Wednesday, February 28, 2024 - Orasure Tech Inc (OSUR) reported upside earnings and revenues today.

Orasure Tech Inc's earnings came in at an EPS of $0.22 per share, 175.00% higher than estimates for an EPS of $0.08 per share. The firm's earnings are down 39% since reporting $0.36 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Revenues were upbeat at $75.9 million. That represents a 38.35% decrease in revenues from the year-ago report and is 2.38% higher than consensus estimates set at $74.1 million.

The stock is up 13.09% to $7.95 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

The average recommendation from Wall Street analysts was a Hold which may get revised based on this new data.

Trading in the five days leading up to the report earned Orasure Tech Inc a Bullish Sentiment Rank from InvestorsObserver.

Orasure Tech Inc has performed a little below average during the past few months. Before the report, Orasure Tech Inc received a Long-Term Technical Rank by InvestorsObserver of 42, putting it in the bottom half of stocks. The firm was recently trading at a 52-week high of $8.45 on January 4, 2024 and set a 52-week low on July 20, 2023 at $4.38.

OraSure Technologies is a medical devices company that develops, manufactures, and distributes oral fluid diagnostic and collection devices. Its reportable segments are diagnostics and molecular solutions. The diagnostics segment produces rapid oral diagnostic tests and specimen collection devices for infectious diseases such as HIV and HCV. The molecular solutions segment specializes in kits used to collect, stabilize, and transport genetic material samples for molecular testing of both hereditary diseases and infectious diseases, such as COVID-19. The company gets most of its sales from the molecular solutions business, derived mainly from customers in the United States.