OPKO Health (NASDAQ:OPK) Shares Up 4.1% – What’s Next?

Shares of OPKO Health, Inc. (NASDAQ:OPK) traded up 4.1% during mid-day trading on Wednesday . The company traded as high as $1.53 and last traded at $1.53. 1,334,959 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 7,419,561 shares. The stock had previously closed at $1.47.

Wall Street Analysts Forecast Growth

Several research firms have commented on OPK. StockNews.com raised shares of OPKO Health to a “sell” rating in a report on Saturday, July 27th. HC Wainwright reissued a “buy” rating and set a $3.00 price objective on shares of OPKO Health in a report on Thursday, September 26th. Barrington Research reissued an “outperform” rating and set a $2.25 price objective on shares of OPKO Health in a report on Friday, September 20th. Finally, Piper Sandler reissued an “overweight” rating and set a $3.00 price objective on shares of OPKO Health in a report on Tuesday, September 17th.

OPKO Health Trading Up 3.1 %

The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.36 and a current ratio of 1.63. The stock’s fifty day moving average is $1.53 and its 200 day moving average is $1.38. The stock has a market cap of $1.06 billion, a P/E ratio of -4.20 and a beta of 1.63.

OPKO Health (NASDAQ:OPK) last posted its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. OPKO Health’s revenue was down 31.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.03) EPS. As a group, equities research analysts predict that OPKO Health, Inc. will post -0.29 earnings per share for the current fiscal year.

Insider Buying and Selling at OPKO Health

In other OPKO Health news, major shareholder Opko Health, Inc. sold 100,000 shares of OPKO Health stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $31.82, for a total value of $3,182,000.00. Following the transaction, the insider now owns 2,871,570 shares in the company, valued at $91,373,357.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 636,444 shares of company stock valued at $21,125,127 in the last three months. Company insiders own 47.26% of the company’s stock.

Hedge Funds Weigh In On OPKO Health

A number of large investors have recently made changes to their positions in the business. CIBC Asset Management Inc increased its holdings in shares of 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 acquiring an additional 8,978 shares in the last quarter. Virtu Financial LLC acquired a new position in OPKO Health during the 1st quarter valued at approximately $26,000. Moseley Investment Management Inc. purchased a new position in shares of OPKO Health in the first quarter worth $41,000. Algert Global LLC acquired a new stake in shares of OPKO Health during the second quarter worth $44,000. Finally, Headlands Technologies LLC purchased a new stake in shares of OPKO Health during the first quarter valued at $47,000. 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.