Hollencrest Capital Management Buys 11,020 Shares of OPKO Health, Inc. (NASDAQ:OPK)

Hollencrest Capital Management increased its stake in OPKO Health, Inc. (NASDAQ:OPK) by 14.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 90,000 shares of the biotechnology company’s stock after purchasing an additional 11,020 shares during the period. Hollencrest Capital Management’s holdings in OPKO Health were worth $112,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc raised its holdings in shares of 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 last quarter. Virtu Financial LLC bought a new stake in OPKO Health during the 1st quarter worth about $26,000. IPG Investment Advisors LLC acquired a new position in shares of OPKO Health during the 4th quarter worth about $30,000. SlateStone Wealth LLC bought a new position in shares of OPKO Health in the 1st quarter valued at about $31,000. Finally, Moseley Investment Management Inc. bought a new position in shares of OPKO Health in the 1st quarter valued at about $41,000. Institutional investors own 64.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Piper Sandler reissued an “overweight” rating and set a $3.00 price target on shares of OPKO Health in a research report on Tuesday. StockNews.com raised OPKO Health to a “sell” rating in a report on Saturday, July 27th. Barrington Research reissued an “outperform” rating and issued a $2.25 target price on shares of OPKO Health in a research note on Friday. Finally, HC Wainwright reaffirmed a “buy” rating and set a $3.00 price target on shares of OPKO Health in a research report on Tuesday.

Insider Activity

In related news, major shareholder Opko Health, Inc. sold 14,082 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were 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 approximately $97,944,577.83. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have sold 736,644 shares of company stock valued at $23,874,134 over the last ninety days. 47.26% of the stock is currently owned by company insiders.

OPKO Health Price Performance

NASDAQ:OPK opened at $1.48 on Friday. OPKO Health, Inc. has a 12-month low of $0.85 and a 12-month high of $1.75. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -4.23 and a beta of 1.64. The stock’s 50 day moving average price is $1.52 and its two-hundred day moving average price is $1.33. The company has a quick ratio of 1.36, a current ratio of 1.63 and a debt-to-equity ratio of 0.13.

OPKO Health (NASDAQ:OPK) last posted 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. OPKO Health had a negative return on equity of 17.67% and a negative net margin of 33.79%. The business had revenue of $182.20 million for the quarter, compared to analysts’ expectations of $184.70 million. During the same quarter in the prior year, the business earned ($0.03) EPS. The firm’s revenue for the quarter was down 31.3% on a year-over-year basis. On average, analysts anticipate that OPKO Health, Inc. will post -0.29 earnings per share for the current year.

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.