OPKO Health (NASDAQ:OPK) Hits New 1-Year High on Better-Than-Expected Earnings

OPKO Health, Inc. (NASDAQ:OPK) reached a new 52-week high during mid-day trading on Friday following a better than expected earnings announcement. The stock traded as high as $1.84 and last traded at $1.73, with a volume of 1464045 shares. The stock had previously closed at $1.63.

The biotechnology company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.09. OPKO Health had a negative return on equity of 9.76% and a negative net margin of 18.65%. The business had revenue of $183.60 million during the quarter, compared to analyst estimates of $155.42 million.

Wall Street Analyst Weigh In

A number of brokerages recently commented on OPK. HC Wainwright reaffirmed a “buy” rating and issued a $3.00 target price on shares of OPKO Health in a research report on Wednesday, January 8th. StockNews.com downgraded OPKO Health from a “hold” rating to a “sell” rating in a research note on Wednesday, January 15th. Finally, Barrington Research reiterated an “outperform” rating and set a $2.25 price target on shares of OPKO Health in a research note on Friday.

Insider Buying and Selling at OPKO Health

In other OPKO Health news, CEO Phillip Md Et Al Frost bought 67,434 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were purchased at an average price of $1.71 per share, for a total transaction of $115,312.14. Following the purchase, the chief executive officer now directly owns 213,301,448 shares of the company’s stock, valued at approximately $364,745,476.08. This represents a 0.03 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders purchased 1,389,971 shares of company stock worth $2,124,442. Insiders own 47.26% of the company’s stock.

Hedge Funds Weigh In On OPKO Health

A number of hedge funds and other institutional investors have recently modified their holdings of OPK. Private Advisor Group LLC boosted its stake in shares of OPKO Health by 242.7% in the 3rd quarter. Private Advisor Group LLC now owns 35,301 shares of the biotechnology company’s stock worth $53,000 after buying an additional 25,000 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in OPKO Health by 142.5% in the third quarter. Assenagon Asset Management S.A. now owns 1,490,992 shares of the biotechnology company’s stock valued at $2,227,000 after purchasing an additional 876,272 shares during the last quarter. Ground Swell Capital LLC purchased a new position in OPKO Health in the third quarter valued at approximately $63,000. Intech Investment Management LLC purchased a new position in OPKO Health in the third quarter valued at approximately $190,000. Finally, Integrated Investment Consultants LLC purchased a new position in OPKO Health in the third quarter valued at approximately $233,000. Hedge funds and other institutional investors own 64.63% of the company’s stock.

OPKO Health Trading Up 6.7 %

The company has a quick ratio of 2.69, a current ratio of 2.97 and a debt-to-equity ratio of 0.30. The firm has a 50 day moving average of $1.55 and a 200 day moving average of $1.55. The firm has a market cap of $1.19 billion, a PE ratio of -9.16 and a beta of 1.63.

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.