Principal Financial Group Inc. Sells 12,909 Shares of OPKO Health, Inc. (NASDAQ:OPK)

Principal Financial Group Inc. lowered its position in OPKO Health, Inc. (NASDAQ:OPK) by 28.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,941 shares of the biotechnology company’s stock after selling 12,909 shares during the quarter. Principal Financial Group Inc.’s holdings in OPKO Health were worth $40,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Hennion & Walsh Asset Management Inc. boosted its position in shares of OPKO Health by 11.4% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 776,020 shares of the biotechnology company’s stock valued at $931,000 after acquiring an additional 79,525 shares in the last quarter. Moseley Investment Management Inc. acquired a new stake in OPKO Health during the first quarter valued at approximately $41,000. Assenagon Asset Management S.A. grew its stake in shares of OPKO Health by 107.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,253,808 shares of the biotechnology company’s stock valued at $1,502,000 after purchasing an additional 648,569 shares during the period. Tidal Investments LLC acquired a new position in shares of OPKO Health in the 1st quarter worth approximately $239,000. Finally, Comerica Bank lifted its position in shares of OPKO Health by 125.0% during the 1st quarter. Comerica Bank now owns 90,000 shares of the biotechnology company’s stock worth $108,000 after buying an additional 50,000 shares during the period. Institutional investors own 64.63% of the company’s stock.

Insider Activity at OPKO Health

In other OPKO Health news, major shareholder Opko Health, Inc. sold 50,000 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $34.49, for a total transaction of $1,724,500.00. Following the completion of the sale, the insider now owns 2,646,972 shares in the company, valued at approximately $91,294,064.28. The sale was disclosed in a filing 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 over the last 90 days. Insiders own 47.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on OPK. StockNews.com upgraded OPKO Health to a “sell” rating in a research report on Saturday, July 27th. Barrington Research upped their target price on shares of OPKO Health from $1.50 to $2.25 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Finally, Piper Sandler cut their price target on shares of OPKO Health from $5.00 to $3.00 and set an “overweight” rating for the company in a report on Thursday, July 18th.

OPKO Health Price Performance

Shares of OPK stock opened at $1.64 on Tuesday. OPKO Health, Inc. has a 1 year low of $0.85 and a 1 year high of $1.74. The firm’s 50 day moving average is $1.50 and its 200-day moving average is $1.31. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -4.69 and a beta of 1.64. The company has a current ratio of 1.63, a quick ratio of 1.36 and a debt-to-equity ratio of 0.13.

OPKO Health (NASDAQ:OPK) last posted its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.08. The firm had revenue of $182.20 million for the quarter, compared to the consensus estimate of $184.70 million. OPKO Health had a negative return on equity of 17.67% and a negative net margin of 33.79%. The business’s revenue for the quarter was down 31.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.03) EPS. Sell-side analysts forecast that OPKO Health, Inc. will post -0.29 EPS for the current fiscal year.

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.