Neuberger Berman Group LLC Expands Stake in OraSure Technologies Inc

Overview of Neuberger Berman Group LLC - Neuberger Berman Group LLC is a prominent investment firm located in New York, managing an equity portfolio valued at approximately $121.8 billion, with significant holdings in technology and financial services sectors [2] - The firm's investment philosophy emphasizes long-term growth and value creation through in-depth research and global market trends [2] Recent Transaction - On September 30, 2024, Neuberger Berman acquired 3,927,692 shares of OraSure Technologies Inc at a price of $4.27 per share, reflecting an 8.73% increase in its previous stake [1] - This acquisition enhances Neuberger Berman's exposure to the healthcare sector, particularly in medical devices, aligning with its strategy to invest in high-growth sectors [6] Profile of OraSure Technologies Inc - OraSure Technologies operates in the medical devices industry, focusing on diagnostic and molecular solutions for diseases such as HIV, HCV, and COVID-19 [4] - The company has a market capitalization of $308.717 million, with a current stock price of $4.14, indicating it is modestly overvalued compared to its GF Value of $3.51 [4] Financial Health of OraSure Technologies Inc - OraSure has a PE Ratio of 11.50, a return on equity (ROE) of 6.49%, and a return on assets (ROA) of 5.80%, indicating moderate efficiency in asset and equity utilization [5] - Despite a year-to-date stock price decline of 50%, the company has a three-year revenue growth rate of 28.90%, suggesting robust long-term growth potential [5] Market and Sector Outlook - The medical devices and instruments industry is expected to grow due to technological advancements and increasing healthcare demands globally [8] - OraSure is well-positioned to capitalize on these trends, despite current market undervaluations [8] Conclusion - Neuberger Berman's strategic increase in its stake in OraSure Technologies reflects a calculated move to strengthen its position in the healthcare sector, diversifying its portfolio and aligning with its long-term investment philosophy [9]