OPKO Health, Inc. (NASDAQ:OPK – Get Free Report) shares rose 5% during trading on Wednesday . The company traded as high as $1.58 and last traded at $1.57. Approximately 1,479,272 shares changed hands during trading, a decline of 80% from the average daily volume of 7,553,453 shares. The stock had previously closed at $1.49.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on OPK shares. StockNews.com upgraded OPKO Health to a “sell” rating in a report on Saturday, July 27th. Piper Sandler restated an “overweight” rating and set a $3.00 price target on shares of OPKO Health in a research note on Tuesday, September 17th. Barrington Research reaffirmed an “outperform” rating and issued a $2.25 price objective on shares of OPKO Health in a research note on Friday, September 20th. Finally, HC Wainwright reissued a “buy” rating and set a $3.00 target price on shares of OPKO Health in a research report on Thursday, September 26th.
OPKO Health Price Performance
The company has a quick ratio of 1.36, a current ratio of 1.63 and a debt-to-equity ratio of 0.13. The company’s 50-day moving average is $1.53 and its 200-day moving average is $1.36. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of -4.26 and a beta of 1.64.
OPKO Health (NASDAQ:OPK – Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.08. OPKO Health had a negative net margin of 33.79% and a negative return on equity of 17.67%. The company had revenue of $182.20 million during the quarter, compared to analyst estimates of $184.70 million. During the same quarter last year, the business posted ($0.03) earnings per share. The company’s revenue was down 31.3% on a year-over-year basis. Equities research analysts expect that OPKO Health, Inc. will post -0.29 earnings per share for the current fiscal year.
Insider Buying and Selling at OPKO Health
In related news, major shareholder Opko Health, Inc. sold 36,118 shares of the stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $28.24, for a total transaction of $1,019,972.32. Following the completion of the sale, the insider now directly owns 3,433,403 shares of the company’s stock, valued at approximately $96,959,300.72. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last 90 days, insiders sold 672,562 shares of company stock worth $22,145,099. Insiders own 47.26% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the stock. Hennion & Walsh Asset Management Inc. raised its stake in OPKO Health by 11.4% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 776,020 shares of the biotechnology company’s stock valued at $931,000 after acquiring an additional 79,525 shares during the period. Moseley Investment Management Inc. acquired a new stake in OPKO Health during the first quarter worth approximately $41,000. Tidal Investments LLC bought a new stake in shares of OPKO Health during the first quarter worth approximately $239,000. Rubric Capital Management LP grew its position in shares of OPKO Health by 800.0% in the second quarter. Rubric Capital Management LP now owns 44,422,304 shares of the biotechnology company’s stock valued at $55,528,000 after purchasing an additional 39,486,490 shares during the last quarter. Finally, Y.D. More Investments Ltd acquired a new stake in OPKO Health during the 2nd quarter worth approximately $1,840,000. Institutional investors and hedge funds own 64.63% of the company’s stock.
OPKO Health Company Profile
OPKO Health, Inc, a healthcare company, engages in the diagnostics and pharmaceuticals businesses in the United States, Ireland, Chile, Spain, Israel, Mexico, and internationally. The company’s Diagnostics segment operates BioReference Laboratories that offers laboratory testing services for the detection, diagnosis, evaluation, monitoring, and treatment of diseases, including esoteric testing, molecular diagnostics, anatomical pathology, genetics, women’s health, and correctional healthcare to physician offices, clinics, hospitals, employers, and governmental units; and 4Kscore prostate cancer test.