OPKO Health, Inc. (NASDAQ:OPK – Free Report) shares rose 10.2% in midday trading on Thursday after coming out with a better-than-expected earnings report. The company traded as high as $1.50 and was last seen at $1.41. 956,538 shares changed hands during trading, a decline of 89% from the average session volume of 8,561,746 shares. The stock had previously closed at $1.28.
The biotechnology company reported earnings per share (EPS) of -$0.01 for the quarter, beating the consensus estimate of -$0.09 by $0.08. The company posted revenue of $182.20 million for the quarter, compared to the consensus estimate of $184.70 million. OPKO Health had a negative net margin of 31.44% and a negative return on equity of 17.89%. OPKO Health’s revenue declined 31.3% year-over-year. During the same period last year, the company posted earnings per share of -$0.03.
Changes in analyst ratings
Several research analysts have commented on OPK shares. HC Wainwright reiterated a “buy” rating and set a $3.00 price target on shares of OPKO Health in a research report on Wednesday, May 8th. Barrington Research increased their price target on shares of OPKO Health from $1.50 to $2.25 and gave the stock an “outperform” rating in a research report on Thursday. StockNews.com upgraded shares of OPKO Health to a “sell” rating in a report on Saturday, July 27th. Finally, Piper Sandler decreased their price target on shares of OPKO Health from $5.00 to $3.00 and gave the stock an “overweight” rating in a research report on Thursday, July 18th.
Read our latest analysis on OPK
Insider transactions at OPKO Health
In other OPKO Health news, major shareholder Opko Health, Inc. sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8. The shares were sold at an average price of $31.82, for a total value of $3,182,000.00. Following the transaction, the insider now directly owns 2,871,570 shares of the company’s stock, valued at approximately $91,373,357.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Phillip Md Et Al Frost acquired 163,997 shares of the company’s stock in a transaction that occurred on Friday, May 17. The shares were acquired at an average price of $1.29 per share, for a total transaction of $211,556.13. Following the transaction, the CEO now directly owns 211,132,222 shares of the company’s stock, valued at $272,360,566.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Opko Health, Inc. sold 100,000 shares of the company’s stock in a transaction that took place on Thursday, August 8. The shares were sold at an average price of $31.82, for a total transaction of $3,182,000.00. Following the completion of the transaction, the insider now directly owns 2,871,570 shares of the company’s stock, valued at approximately $91,373,357.40. The disclosure of this sale can be found here. Over the past three months, insiders have sold 587,033 shares of the company’s stock, valued at $18,802,488. 47.26% of the shares are owned by company insiders.
Institutional inflows and outflows
Institutional investors have recently changed their holdings in the stock. Choreo LLC acquired a new position in OPKO Health in the 4th quarter valued at about $106,000. Charles Schwab Investment Management Inc. increased its holdings in shares of OPKO Health by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,733,700 shares of the biotechnology company’s stock valued at $8,658,000 after purchasing an additional 183,754 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of OPKO Health by 349.8% in the 4th quarter. BNP Paribas Financial Markets now owns 271,872 shares of the biotechnology company’s stock valued at $411,000 after purchasing an additional 211,429 shares during the period. IPG Investment Advisors LLC acquired a new position in OPKO Health in the 4th quarter valued at about $30,000. Finally, Tower Research Capital LLC TRC increased its position in OPKO Health by 68.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 47,320 shares of the biotechnology company’s stock valued at $71,000 after purchasing an additional 19,219 shares during the same period. 64.63% of the shares are currently owned by institutional investors and hedge funds.
OPKO Health shares rise by 11.7%
The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.62 and a current ratio of 1.91. The stock’s 50-day simple moving average is $1.34 and its 200-day simple moving average is $1.20. The stock has a market cap of $996.70 million, a P/E ratio of -4.09 and a beta of 1.65.
OPKO Health Company Profile
(Get free report)
OPKO Health, Inc., a healthcare company, engages in diagnostics and pharmaceuticals in the United States, Ireland, Chile, Spain, Israel, Mexico and internationally. The company’s Diagnostics division operates BioReference Laboratories, which provides laboratory testing services for the detection, diagnosis, evaluation, monitoring and treatment of disease, including esoteric testing, molecular diagnostics, anatomical pathology, genetics, women’s health and correctional medicine to physician offices, clinics, hospitals, employers and government entities; and 4Kscore prostate cancer testing.
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