Opko Health, Inc. (NASDAQ:OPK) released its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported ($0.04) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.01, Briefing.com reports. Opko Health had a negative net margin of 6.52% and a negative return on equity of 3.67%. The business had revenue of $314.20 million during the quarter, compared to analysts’ expectations of $322.64 million. During the same quarter in the prior year, the company earned $0.02 EPS. The firm’s quarterly revenue was down 12.0% on a year-over-year basis.
Opko Health (OPK) traded up 4.08% during trading on Friday, hitting $6.12. 6,288,570 shares of the stock were exchanged. Opko Health has a 52 week low of $5.85 and a 52 week high of $12.15. The firm’s 50-day moving average is $6.27 and its 200 day moving average is $7.19. The firm’s market cap is $3.42 billion.
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In other Opko Health news, CEO Phillip Md Et Al Frost bought 50,000 shares of the firm’s stock in a transaction dated Thursday, August 17th. The stock was bought at an average cost of $5.96 per share, with a total value of $298,000.00. Following the completion of the transaction, the chief executive officer now directly owns 3,068,951 shares in the company, valued at approximately $18,290,947.96. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John A. Paganelli bought 5,000 shares of the firm’s stock in a transaction dated Thursday, June 1st. The shares were acquired at an average cost of $6.17 per share, with a total value of $30,850.00. Following the completion of the transaction, the director now owns 350,340 shares of the company’s stock, valued at $2,161,597.80. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 1,638,200 shares of company stock valued at $10,370,607. 40.19% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OPK. AQR Capital Management LLC purchased a new position in Opko Health during the fourth quarter valued at $105,000. Comerica Bank purchased a new position in Opko Health during the fourth quarter valued at $117,000. Timber Hill LLC purchased a new position in Opko Health during the first quarter valued at $114,000. World Asset Management Inc boosted its position in Opko Health by 23.6% in the first quarter. World Asset Management Inc now owns 15,176 shares of the biotechnology company’s stock valued at $121,000 after buying an additional 2,900 shares during the period. Finally, IFC Holdings Incorporated FL boosted its position in Opko Health by 15.9% in the first quarter. IFC Holdings Incorporated FL now owns 15,339 shares of the biotechnology company’s stock valued at $122,000 after buying an additional 2,100 shares during the period. Institutional investors and hedge funds own 22.94% of the company’s stock.
A number of research firms recently commented on OPK. Jefferies Group LLC restated a “hold” rating and issued a $8.00 price objective on shares of Opko Health in a research report on Monday, June 12th. Cantor Fitzgerald began coverage on shares of Opko Health in a research report on Thursday. They issued an “overweight” rating and a $20.00 price objective for the company. Zacks Investment Research upgraded shares of Opko Health from a “hold” rating to a “buy” rating and set a $7.25 price objective for the company in a research report on Friday, July 21st. Barrington Research upped their price objective on shares of Opko Health to $11.00 and gave the company an “outperform” rating in a research report on Tuesday, July 18th. Finally, BidaskClub raised shares of Opko Health from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $15.28.
Opko Health Company Profile
OPKO Health, Inc is a healthcare company. Its segments include Pharmaceutical, Diagnostics and Corporate. Pharmaceutical consists of the pharmaceutical operations in Chile, Mexico, Ireland, Israel and Spain and its pharmaceutical research and development operations. Diagnostics consists of the clinical laboratory operations in Bio-Reference Laboratories (Bio-Reference) and its point-of-care operations.
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