OPKO Health (NASDAQ:OPK) Shares Gap Down to $1.64

OPKO Health, Inc. (NASDAQ:OPK)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $1.64, but opened at $1.55. OPKO Health shares last traded at $1.67, with a volume of 1,085,563 shares.

Wall Street Analyst Weigh In

OPK has been the subject of several recent analyst reports. Barrington Research raised their target price on shares of OPKO Health from $1.50 to $2.25 and gave the company an “outperform” rating in a research note on Thursday, August 8th. HC Wainwright reiterated a “buy” rating and issued a $3.00 price objective on shares of OPKO Health in a report on Tuesday. Piper Sandler reissued an “overweight” rating and issued a $3.00 price target on shares of OPKO Health in a report on Tuesday. Finally, StockNews.com upgraded OPKO Health to a “sell” rating in a report on Saturday, July 27th.

OPKO Health Stock Performance

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.63 and a quick ratio of 1.36. The stock’s 50-day moving average price is $1.52 and its 200-day moving average price is $1.33. The company has a market cap of $1.13 billion, a P/E ratio of -4.63 and a beta of 1.64.

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, beating analysts’ consensus estimates of ($0.09) by $0.08. OPKO Health had a negative net margin of 33.79% and a negative return on equity of 17.67%. The firm had revenue of $182.20 million during the quarter, compared to the consensus estimate of $184.70 million. During the same quarter in the previous year, the firm posted ($0.03) EPS. The business’s revenue for the quarter was down 31.3% compared to the same quarter last year. Equities 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 14,082 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $28.23, for a total value of $397,534.86. Following the transaction, the insider now owns 3,469,521 shares in the company, valued at $97,944,577.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 736,644 shares of company stock valued at $23,874,134 in the last three months. Corporate insiders own 47.26% of the company’s stock.

Hedge Funds Weigh In On OPKO Health

Several hedge funds and other institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its position in OPKO Health by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,733,700 shares of the biotechnology company’s stock valued at $8,658,000 after acquiring an additional 183,754 shares during the last quarter. BNP Paribas Financial Markets increased its position in OPKO Health by 349.8% during the 4th quarter. BNP Paribas Financial Markets now owns 271,872 shares of the biotechnology company’s stock worth $411,000 after purchasing an additional 211,429 shares in the last quarter. IPG Investment Advisors LLC bought a new position in OPKO Health in the 4th quarter valued at approximately $30,000. Moseley Investment Management Inc. acquired a new stake in OPKO Health in the first quarter valued at approximately $41,000. Finally, Hennion & Walsh Asset Management Inc. grew its stake in shares of OPKO Health by 11.4% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 776,020 shares of the biotechnology company’s stock worth $931,000 after buying an additional 79,525 shares during the last quarter. Institutional investors 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.