OPKO Health (NASDAQ:OPK) Sees Strong Trading Volume – Time to Buy?

OPKO Health, Inc. (NASDAQ:OPK) shares saw strong trading volume on Monday . 4,977,027 shares changed hands during mid-day trading, an increase of 178% from the previous session’s volume of 1,793,125 shares.The stock last traded at $1.46 and had previously closed at $1.48.

Analyst Upgrades and Downgrades

OPK has been the topic of a number of recent research reports. Piper Sandler restated an “overweight” rating and issued a $3.00 target price on shares of OPKO Health in a report on Tuesday, September 17th. HC Wainwright reissued a “buy” rating and set a $3.00 price objective on shares of OPKO Health in a research note on Wednesday. StockNews.com upgraded shares of OPKO Health from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Barrington Research reiterated an “outperform” rating and issued a $2.25 price target on shares of OPKO Health in a report on Friday, November 8th.

OPKO Health Stock Performance

The company has a market cap of $1.01 billion, a price-to-earnings ratio of -7.79 and a beta of 1.63. 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’s 50 day moving average price is $1.54 and its 200 day moving average price is $1.50.

Insider Buying and Selling

In other news, CEO Phillip Md Et Al Frost acquired 280,183 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were bought at an average cost of $1.50 per share, for a total transaction of $420,274.50. Following the acquisition, the chief executive officer now directly owns 211,512,405 shares in the company, valued at $317,268,607.50. This trade represents a 0.13 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders purchased 1,304,255 shares of company stock valued at $2,024,605. Insiders own 47.26% of the company’s stock.

Institutional Trading of OPKO Health

A number of institutional investors and hedge funds have recently bought and sold shares of the business. CIBC Asset Management Inc raised its position 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 purchasing an additional 8,978 shares during the period. FMR LLC raised its holdings in shares of OPKO Health by 103.6% during the 3rd quarter. FMR LLC now owns 21,795 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 11,089 shares during the period. Algert Global LLC purchased a new stake in shares of OPKO Health during the 2nd quarter valued at about $44,000. Orion Portfolio Solutions LLC acquired a new position in OPKO Health during the 3rd quarter worth approximately $45,000. Finally, Private Advisor Group LLC boosted its holdings in 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 acquiring an additional 25,000 shares during the period. Institutional investors and hedge funds own 64.63% of the company’s stock.

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.