Canaccord Genuity analyst Mark Massaro maintained a Buy rating on Orasure Technologies (OSUR) today and set a price target of $16. The company’s shares closed yesterday at $12.81.
Massaro commented:
“We reiterate our BUY, trim PT to $16. Q1/19 guide disappoints. OSUR initiated a Q1/19 revenue guide of $29-30.5M, or 33% below the Street at the midpoint, and EPS of $(0.06)-$(0.07), below our $0.02E/Street’s $0.07, as it expects lower sales from a large DTC customer. While we don’t know the precise details, management indicated to us that its large DTC customer has “changed its strategy” and indicated to OSUR it will not need as many kits in Q1/19. What is going on at 23andMe? We know from LabCorp that “something is going on” at 23andMe that is having a ripple effect, and we suspect that 23andMe is possibly (1) upgrading its technology to enable greater health insights to patients; and (2) reducing its test discounting or its heavy TV ad spend, at least in 1H/19 vs. prior years.”
According to TipRanks.com, Massaro is a 5-star analyst with an average return of 15.1% and a 56.2% success rate. Massaro covers the Healthcare sector, focusing on stocks such as HTG Molecular Diagnostics, Meridian Bioscience Inc, and Quanterix Corporation.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Orasure Technologies with a $15.67 average price target.
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The company has a one-year high of $20.76 and a one-year low of $10.27. Currently, Orasure Technologies has an average volume of 597.1K.
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OraSure Technologies, Inc. engages in the development, manufacture, and distribution of point of care diagnostic and collection devices and other technologies designed to detect or diagnose critical medical conditions. It operates through the OSUR and DNAG segments.
