OPKO Health (NASDAQ:OPK) Stock Price Down 2.4%

Shares of OPKO Health, Inc. (NASDAQ:OPK) were down 2.4% on Wednesday . The stock traded as low as $1.59 and last traded at $1.62. Approximately 835,874 shares traded hands during trading, a decline of 89% from the average daily volume of 7,738,476 shares. The stock had previously closed at $1.66.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. StockNews.com raised OPKO Health to a “sell” rating in a report on Saturday, July 27th. Piper Sandler restated an “overweight” rating and issued a $3.00 price objective on shares of OPKO Health in a report on Tuesday. Barrington Research upped their target price on shares of OPKO Health from $1.50 to $2.25 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Finally, HC Wainwright restated a “buy” rating and set a $3.00 price target on shares of OPKO Health in a research report on Tuesday.

OPKO Health Stock Down 2.4 %

The firm’s fifty day simple moving average is $1.51 and its two-hundred day simple moving average is $1.32. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of -4.74 and a beta of 1.64. The company has a current ratio of 1.63, a quick ratio of 1.36 and a debt-to-equity ratio of 0.13.

OPKO Health (NASDAQ:OPK) last posted its earnings results on Wednesday, August 7th. The biotechnology company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.08. The company had revenue of $182.20 million during the quarter, compared to analysts’ expectations of $184.70 million. OPKO Health had a negative return on equity of 17.67% and a negative net margin of 33.79%. The firm’s quarterly revenue was down 31.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.03) earnings per share. Sell-side analysts anticipate that OPKO Health, Inc. will post -0.29 EPS for the current year.

Insider Buying and Selling at OPKO Health

In other news, major shareholder Opko Health, Inc. sold 14,082 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $28.23, for a total transaction of $397,534.86. Following the completion of the transaction, the insider now directly owns 3,469,521 shares in the company, valued at $97,944,577.83. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders sold a total of 736,644 shares of company stock worth $23,874,134 over the last three months. Insiders own 47.26% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. CIBC Asset Management Inc boosted its holdings in shares of OPKO Health by 79.1% in the second quarter. CIBC Asset Management Inc now owns 20,322 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 8,978 shares during the period. Hollencrest Capital Management lifted its position in OPKO Health by 14.0% during the 2nd quarter. Hollencrest Capital Management now owns 90,000 shares of the biotechnology company’s stock worth $112,000 after acquiring an additional 11,020 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of OPKO Health by 4.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 445,981 shares of the biotechnology company’s stock valued at $536,000 after purchasing an additional 17,671 shares during the last quarter. IPG Investment Advisors LLC acquired a new position in OPKO Health in the 4th quarter valued at $30,000. Finally, Virtu Financial LLC acquired a new position in OPKO Health in the 1st quarter valued at $26,000. 64.63% of the stock is owned by institutional investors and hedge funds.

About OPKO Health

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.