OPKO Health (NASDAQ:OPK) Stock Price Up 4.1% – Time to Buy?

OPKO Health, Inc. (NASDAQ:OPK)’s share price traded up 4.1% during mid-day trading on Wednesday . The company traded as high as $1.53 and last traded at $1.53. 1,334,959 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 7,419,561 shares. The stock had previously closed at $1.47.

Analyst Ratings Changes

Several research analysts have recently commented on OPK shares. HC Wainwright reiterated a “buy” rating and issued a $3.00 price objective on shares of OPKO Health in a report on Thursday, September 26th. Barrington Research reiterated an “outperform” rating and issued a $2.25 price objective on shares of OPKO Health in a report on Friday, September 20th. StockNews.com upgraded OPKO Health to a “sell” rating in a report on Saturday, July 27th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $3.00 price objective on shares of OPKO Health in a report on Tuesday, September 17th.

OPKO Health Stock Performance

The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.36 and a current ratio of 1.63. The business has a 50-day moving average price of $1.53 and a 200 day moving average price of $1.38. The stock has a market capitalization of $1.06 billion, a P/E ratio of -4.20 and a beta of 1.63.

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

Insider Buying and Selling at OPKO Health

In other OPKO Health news, major shareholder Opko Health, Inc. sold 25,000 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $32.93, for a total transaction of $823,250.00. Following the completion of the sale, the insider now directly owns 3,408,403 shares in the company, valued at approximately $112,238,710.79. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders sold 636,444 shares of company stock worth $21,125,127. Insiders own 47.26% of the company’s stock.

Institutional Investors Weigh In On OPKO Health

Several hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC increased its stake in OPKO Health by 1,086.9% in the 3rd quarter. SG Americas Securities LLC now owns 135,856 shares of the biotechnology company’s stock worth $202,000 after buying an additional 124,410 shares in the last quarter. Algert Global LLC purchased a new stake in OPKO Health in the 2nd quarter worth $44,000. Squarepoint Ops LLC purchased a new stake in OPKO Health in the 2nd quarter worth $592,000. Rubric Capital Management LP increased its stake in OPKO Health by 800.0% in the 2nd quarter. Rubric Capital Management LP now owns 44,422,304 shares of the biotechnology company’s stock worth $55,528,000 after buying an additional 39,486,490 shares in the last quarter. Finally, Hollencrest Capital Management increased its stake in OPKO Health by 14.0% in the 2nd quarter. Hollencrest Capital Management now owns 90,000 shares of the biotechnology company’s stock worth $112,000 after buying an additional 11,020 shares in the last quarter. 64.63% of the stock is currently owned by hedge funds and other institutional investors.

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.