OPKO Health (NASDAQ:OPK) Shares Gap Down to $1.59

Shares of OPKO Health, Inc. (NASDAQ:OPK) gapped down prior to trading on Wednesday . The stock had previously closed at $1.59, but opened at $1.55. OPKO Health shares last traded at $1.54, with a volume of 567,207 shares traded.

Analyst Ratings Changes

Several analysts have commented on the stock. Piper Sandler lowered their target price on shares of OPKO Health from $5.00 to $3.00 and set an “overweight” rating for the company in a research note on Thursday, July 18th. StockNews.com raised shares of OPKO Health to a “sell” rating in a research note on Saturday, July 27th. Finally, Barrington Research lifted their price target on shares of OPKO Health from $1.50 to $2.25 and gave the company an “outperform” rating in a report on Thursday, August 8th.

OPKO Health Stock Performance

The company has a market cap of $1.08 billion, a price-to-earnings ratio of -4.43 and a beta of 1.64. The stock’s fifty day simple moving average is $1.49 and its two-hundred day simple moving average is $1.31. 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 quarterly earnings results on Wednesday, August 7th. The biotechnology company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.08. The company had revenue of $182.20 million for the quarter, compared to analyst estimates of $184.70 million. OPKO Health had a negative net margin of 33.79% and a negative return on equity of 17.67%. OPKO Health’s revenue for the quarter was down 31.3% on a year-over-year basis. During the same quarter last year, the business earned ($0.03) EPS. Equities research analysts anticipate that OPKO Health, Inc. will post -0.29 EPS for the current year.

Insider Buying and Selling at OPKO Health

In related news, major shareholder Opko Health, Inc. sold 50,000 shares of OPKO Health stock in a transaction on Monday, July 1st. The shares were sold at an average price of $26.63, for a total transaction of $1,331,500.00. Following the transaction, the insider now owns 3,508,603 shares in the company, valued at approximately $93,434,097.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 736,644 shares of company stock worth $23,874,134 in the last quarter. 47.26% of the stock is owned by insiders.

Hedge Funds Weigh In On OPKO Health

Several hedge funds and other institutional investors have recently made changes to their positions in OPK. CIBC Asset Management Inc lifted its holdings in shares of OPKO Health by 79.1% during the 2nd 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 shares of OPKO Health during the 1st quarter valued at $26,000. IPG Investment Advisors LLC acquired a new position in shares of OPKO Health during the 4th quarter valued at $30,000. SlateStone Wealth LLC acquired a new position in shares of OPKO Health during the 1st quarter valued at $31,000. Finally, Moseley Investment Management Inc. acquired a new position in shares of OPKO Health during the 1st quarter valued at $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.