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OraSure (OSUR) Stock Jumps 9.3%: Will It Continue to Soar?
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OraSure Technologies (OSUR - Free Report) shares ended the last trading session 9.3% higher at $6.70. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 2.4% loss over the past four weeks.
OraSure recorded a strong price increase following its better-than-expected fourth-quarter 2022 performance. The company’s quarterly earnings per share and revenues topped the Zacks Consensus Estimate. The company had registered robust year-over-year uptick in overall top line as well as total Diagnostics revenues. Also, the latest Zacks Consensus Estimate shows significant upward revision for its quarterly revenues and earnings compared to the year-ago reported number. The company is expected to release its first-quarter 2023 earnings on May 9.
This diagnostic test maker is expected to post quarterly earnings of $0.16 per share in its upcoming report, which represents a year-over-year change of +157.1%. Revenues are expected to be $127.14 million, up 87.8% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For OraSure, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on OSUR going forward to see if this recent jump can turn into more strength down the road.
OraSure is part of the Zacks Medical - Products industry. OrganiGram (OGI - Free Report) , another stock in the same industry, closed the last trading session 2.1% higher at $0.64. OGI has returned -15.7% in the past month.
For OrganiGram, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.01. This represents a change of +50% from what the company reported a year ago. OrganiGram currently has a Zacks Rank of #2 (Buy).
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OraSure (OSUR) Stock Jumps 9.3%: Will It Continue to Soar?
OraSure Technologies (OSUR - Free Report) shares ended the last trading session 9.3% higher at $6.70. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 2.4% loss over the past four weeks.
OraSure recorded a strong price increase following its better-than-expected fourth-quarter 2022 performance. The company’s quarterly earnings per share and revenues topped the Zacks Consensus Estimate. The company had registered robust year-over-year uptick in overall top line as well as total Diagnostics revenues. Also, the latest Zacks Consensus Estimate shows significant upward revision for its quarterly revenues and earnings compared to the year-ago reported number. The company is expected to release its first-quarter 2023 earnings on May 9.
This diagnostic test maker is expected to post quarterly earnings of $0.16 per share in its upcoming report, which represents a year-over-year change of +157.1%. Revenues are expected to be $127.14 million, up 87.8% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For OraSure, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on OSUR going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
OraSure is part of the Zacks Medical - Products industry. OrganiGram (OGI - Free Report) , another stock in the same industry, closed the last trading session 2.1% higher at $0.64. OGI has returned -15.7% in the past month.
For OrganiGram, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.01. This represents a change of +50% from what the company reported a year ago. OrganiGram currently has a Zacks Rank of #2 (Buy).