OPKO Health (NASDAQ:OPK) Shares Gap Down to $1.48

OPKO Health, Inc. (NASDAQ:OPK)’s share price gapped down before the market opened on Monday . The stock had previously closed at $1.48, but opened at $1.45. OPKO Health shares last traded at $1.47, with a volume of 406,980 shares trading hands.

Analyst Ratings Changes

Several research analysts recently issued reports on OPK shares. StockNews.com raised shares of OPKO Health to a “sell” rating in a research report on Saturday, July 27th. Barrington Research reissued an “outperform” rating and issued a $2.25 target price on shares of OPKO Health in a report on Friday. 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. Finally, Piper Sandler reiterated an “overweight” rating and set a $3.00 price objective on shares of OPKO Health in a research note on Tuesday, September 17th.

OPKO Health Stock Performance

The stock has a 50-day moving average of $1.52 and a 200 day moving average of $1.34. The firm has a market capitalization of $1.04 billion, a P/E ratio of -4.23 and a beta of 1.64. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.36 and a current ratio of 1.63.

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

Insider Activity at OPKO Health

In other news, major shareholder Opko Health, Inc. sold 14,082 shares of the business’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 sale, the insider now owns 3,469,521 shares in the company, valued at $97,944,577.83. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold a total of 736,644 shares of company stock valued at $23,874,134 over the last quarter. Corporate insiders own 47.26% of the company’s stock.

Institutional Trading of OPKO Health

A number of institutional investors have recently bought and sold shares of OPK. IPG Investment Advisors LLC bought a new position in shares of OPKO Health in the 4th quarter worth $30,000. CIBC Asset Management Inc lifted its stake in 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 buying an additional 8,978 shares during the period. Virtu Financial LLC bought a new position in OPKO Health during the first quarter worth about $26,000. SlateStone Wealth LLC acquired a new position in shares of OPKO Health during the 1st quarter worth about $31,000. Finally, Moseley Investment Management Inc. bought a new stake in shares of OPKO Health in the 1st quarter valued at about $41,000. Institutional investors and hedge funds own 64.63% of the company’s stock.

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.