Opko Health Inc. (NASDAQ:OPK) dropped 6.3% during mid-day trading on Friday . The stock traded as low as $1.89 and last traded at $1.94, approximately 5,591,717 shares traded hands during mid-day trading. An increase of 17% from the average daily volume of 4,776,376 shares. The stock had previously closed at $2.07.
OPK has been the subject of several recent research reports. ValuEngine upgraded shares of Opko Health from a “sell” rating to a “hold” rating in a research report on Thursday. Zacks Investment Research upgraded shares of Opko Health from a “hold” rating to a “buy” rating and set a $2.75 price target for the company in a research report on Tuesday, April 30th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $9.25.
The company has a quick ratio of 0.99, a current ratio of 1.10 and a debt-to-equity ratio of 0.13. The business’s 50-day moving average is $2.14. The firm has a market cap of $1.27 billion, a PE ratio of -7.76 and a beta of 2.14.
Opko Health (NASDAQ:OPK) last announced its quarterly earnings results on Tuesday, May 7th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.08). Opko Health had a negative net margin of 19.92% and a negative return on equity of 9.86%. The business had revenue of $222.50 million during the quarter, compared to analyst estimates of $241.27 million. During the same quarter last year, the company posted ($0.08) earnings per share. The company’s revenue was down 12.7% compared to the same quarter last year. Analysts forecast that Opko Health Inc. will post -0.42 earnings per share for the current year.
In other news, CEO Phillip Md Et Al Frost acquired 907,000 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was bought at an average cost of $2.11 per share, for a total transaction of $1,913,770.00. Following the completion of the transaction, the chief executive officer now directly owns 3,068,951 shares in the company, valued at approximately $6,475,486.61. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard C. Pfenniger, Jr. acquired 30,000 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were purchased at an average price of $2.05 per share, with a total value of $61,500.00. Following the completion of the transaction, the director now owns 250,000 shares of the company’s stock, valued at $512,500. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 2,545,250 shares of company stock valued at $5,202,900. 42.25% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC increased its position in shares of Opko Health by 4.2% during the fourth quarter. Geode Capital Management LLC now owns 4,078,397 shares of the biotechnology company’s stock worth $12,275,000 after buying an additional 165,517 shares during the period. Norges Bank bought a new position in Opko Health during the fourth quarter worth $9,207,000. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management boosted its stake in Opko Health by 98.4% during the second quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management now owns 2,092,606 shares of the biotechnology company’s stock worth $5,106,000 after acquiring an additional 1,037,669 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Opko Health by 0.7% during the fourth quarter. Bank of New York Mellon Corp now owns 1,661,535 shares of the biotechnology company’s stock worth $5,001,000 after acquiring an additional 10,880 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in Opko Health by 3,541.3% during the first quarter. Marshall Wace LLP now owns 1,452,176 shares of the biotechnology company’s stock worth $3,099,000 after acquiring an additional 1,412,295 shares in the last quarter. Institutional investors own 25.51% of the company’s stock.
About Opko Health (NASDAQ:OPK)
OPKO Health, Inc, a healthcare company, engages in the diagnostics and pharmaceuticals business in the United States, Ireland, Chile, Spain, Israel, Mexico, and internationally. The company’s Diagnostics segment operates BioReference Laboratories, a clinical laboratory that offers laboratory testing services.