OPKO Health (NASDAQ:OPK) Stock Price Down 2%

Shares of OPKO Health, Inc. (NASDAQ:OPK) fell 2% during trading on Tuesday . The stock traded as low as $1.47 and last traded at $1.47. 626,167 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 7,683,438 shares. The stock had previously closed at $1.50.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Barrington Research restated an “outperform” rating and set a $2.25 price target on shares of OPKO Health in a report on Friday. StockNews.com raised shares of OPKO Health to a “sell” rating in a research report on Saturday, July 27th. Piper Sandler reaffirmed an “overweight” rating and set a $3.00 target price on shares of OPKO Health in a research note on Tuesday, September 17th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $3.00 price target on shares of OPKO Health in a research note on Tuesday, September 17th.

OPKO Health Stock 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 has a market cap of $1.04 billion, a PE ratio of -4.29 and a beta of 1.64. The company has a 50-day moving average of $1.52 and a 200-day moving average of $1.34.

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

Insider Transactions at OPKO Health

In other OPKO Health news, major shareholder Opko Health, Inc. sold 14,082 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $28.23, for a total transaction of $397,534.86. Following the sale, the insider now directly owns 3,469,521 shares of the company’s stock, valued at $97,944,577.83. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold a total of 736,644 shares of company stock worth $23,874,134 in the last quarter. Insiders own 47.26% of the company’s stock.

Institutional Investors Weigh In On OPKO Health

Hedge funds and other institutional investors have recently modified their holdings of the stock. CIBC Asset Management Inc boosted its stake in OPKO Health by 79.1% during the second quarter. CIBC Asset Management Inc now owns 20,322 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 8,978 shares during the period. Hollencrest Capital Management lifted its position in OPKO Health by 14.0% during the second quarter. Hollencrest Capital Management now owns 90,000 shares of the biotechnology company’s stock valued at $112,000 after purchasing an additional 11,020 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in OPKO Health by 4.1% during the first 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 purchased a new position in OPKO Health in the 4th quarter worth approximately $30,000. Finally, Virtu Financial LLC bought a new position in shares of OPKO Health in the 1st quarter worth $26,000. 64.63% of the stock is currently owned by institutional investors.

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.