What’s a smart OraSure Technologies, Inc. (NASDAQ:OSUR) investor to do?
In the eyes of many traders, hedge funds are viewed as delayed, old financial vehicles of an era lost to time. Although there are more than 8,000 hedge funds with their doors open in present day, Insider Monkey aim at the upper echelon of this club, about 525 funds. It is assumed that this group oversees most of all hedge funds’ total assets, and by paying attention to their highest quality stock picks, we’ve discovered a few investment strategies that have historically outstripped the S&P 500. Our small-cap hedge fund strategy outstripped the S&P 500 index by 18 percentage points per year for a decade in our back tests, and since we‘ve began to sharing our picks with our subscribers at the end of August 2012, we have beaten the S&P 500 index by 33 percentage points in 11 months (find the details here).
Just as necessary, optimistic insider trading sentiment is another way to analyze the world of equities. As the old adage goes: there are a number of stimuli for an executive to sell shares of his or her company, but only one, very simple reason why they would buy. Many academic studies have demonstrated the impressive potential of this strategy if investors know what to do (learn more here).
What’s more, we’re going to analyze the newest info surrounding OraSure Technologies, Inc. (NASDAQ:OSUR).
How have hedgies been trading OraSure Technologies, Inc. (NASDAQ:OSUR)?
In preparation for the third quarter, a total of 14 of the hedge funds we track held long positions in this stock, a change of -13% from the first quarter. With the smart money’s capital changing hands, there exists an “upper tier” of notable hedge fund managers who were increasing their holdings meaningfully.
Due to the fact OraSure Technologies, Inc. (NASDAQ:OSUR) has experienced declining interest from the entirety of the hedge funds we track, logic holds that there was a specific group of hedge funds that decided to sell off their full holdings at the end of the second quarter. Interestingly, JΘr⌠me Pfund and Michael Sj÷str÷m’s Sectoral Asset Management sold off the largest position of all the hedgies we monitor, totaling an estimated $8.6 million in stock, and Ryan Schaper of Point Lobos Capital was right behind this move, as the fund dumped about $2.3 million worth. These bearish behaviors are interesting, as aggregate hedge fund interest fell by 2 funds at the end of the second quarter.
Insider trading activity in OraSure Technologies, Inc. (NASDAQ:OSUR)
Insider buying made by high-level executives is most useful when the primary stock in question has experienced transactions within the past half-year. Over the latest half-year time frame, OraSure Technologies, Inc. (NASDAQ:OSUR) has experienced zero unique insiders buying, and zero insider sales (see the details of insider trades here).
We’ll also examine the relationship between both of these indicators in other stocks similar to OraSure Technologies, Inc. (NASDAQ:OSUR). These stocks are Alphatec Holdings Inc (NASDAQ:ATEC), STAAR Surgical Company (NASDAQ:STAA), AngioDynamics, Inc. (NASDAQ:ANGO), Atrion Corporation (NASDAQ:ATRI), and Vascular Solutions, Inc. (NASDAQ:VASC). This group of stocks belong to the medical instruments & supplies industry and their market caps are similar to OSUR’s market cap.