OPKO Health (NASDAQ:OPK) Shares Gap Up – Time to Buy?

OPKO Health, Inc. (NASDAQ:OPK) shares gapped up prior to trading on Tuesday . The stock had previously closed at $1.84, but opened at $1.94. OPKO Health shares last traded at $1.84, with a volume of 582,582 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have issued reports on OPK. StockNews.com raised shares of OPKO Health from a “sell” rating to a “hold” rating in a research note on Monday, March 3rd. Barrington Research restated an “outperform” rating and issued a $2.25 price target on shares of OPKO Health in a report on Wednesday. Finally, HC Wainwright restated a “buy” rating and set a $3.00 price objective on shares of OPKO Health in a research note on Wednesday.

OPKO Health Stock Down 1.1 %

The company has a current ratio of 2.97, a quick ratio of 2.69 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $1.20 billion, a PE ratio of -9.37 and a beta of 1.70. The company’s 50-day moving average is $1.60 and its 200 day moving average is $1.56.

OPKO Health (NASDAQ:OPK) last announced its quarterly earnings data on Thursday, February 27th. The biotechnology company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.09. The business had revenue of $183.60 million for the quarter, compared to analyst estimates of $155.42 million. OPKO Health had a negative return on equity of 9.76% and a negative net margin of 18.65%. As a group, analysts anticipate that OPKO Health, Inc. will post -0.25 EPS for the current year.

Insider Activity at OPKO Health

In related news, CEO Phillip Md Et Al Frost purchased 67,434 shares of OPKO Health stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average price of $1.71 per share, for a total transaction of $115,312.14. Following the transaction, the chief executive officer now directly owns 213,301,448 shares in the company, valued at approximately $364,745,476.08. This trade represents a 0.03 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders bought a total of 889,971 shares of company stock worth $1,344,442 in the last three months. Company insiders own 47.26% of the company’s stock.

Institutional Trading of OPKO Health

Several large investors have recently made changes to their positions in OPK. FMR LLC boosted its stake in OPKO Health by 103.6% during the third quarter. FMR LLC now owns 21,795 shares of the biotechnology company’s stock worth $32,000 after buying an additional 11,089 shares during the last quarter. Orion Portfolio Solutions LLC purchased a new stake in OPKO Health during the 3rd quarter worth about $45,000. Cibc World Markets Corp purchased a new position in OPKO Health in the fourth quarter worth approximately $45,000. Zacks Investment Management acquired a new position in shares of OPKO Health during the fourth quarter worth $49,000. Finally, Ieq Capital LLC purchased a new position in shares of OPKO Health in the 4th quarter valued at about $52,000. 64.63% of the stock is currently owned by hedge funds and other institutional investors.

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.