OPKO Health, Inc. (NASDAQ:OPK) Stake Lessened by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its holdings in OPKO Health, Inc. (NASDAQ:OPK) by 28.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,740 shares of the biotechnology company’s stock after selling 9,201 shares during the quarter. Principal Financial Group Inc.’s holdings in OPKO Health were worth $34,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Rubric Capital Management LP boosted its position in OPKO Health by 800.0% during the second quarter. Rubric Capital Management LP now owns 44,422,304 shares of the biotechnology company’s stock valued at $55,528,000 after purchasing an additional 39,486,490 shares during the last quarter. Y.D. More Investments Ltd acquired a new stake in OPKO Health in the 2nd quarter valued at $1,840,000. Assenagon Asset Management S.A. increased its holdings in shares of OPKO Health by 142.5% during the third quarter. Assenagon Asset Management S.A. now owns 1,490,992 shares of the biotechnology company’s stock worth $2,227,000 after buying an additional 876,272 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of OPKO Health during the second quarter worth $592,000. Finally, Exchange Traded Concepts LLC raised its stake in shares of OPKO Health by 135.7% in the third quarter. Exchange Traded Concepts LLC now owns 387,108 shares of the biotechnology company’s stock worth $577,000 after acquiring an additional 222,869 shares during the last quarter. 64.63% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Phillip Md Et Al Frost bought 100,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were purchased at an average cost of $1.59 per share, with a total value of $159,000.00. Following the acquisition, the chief executive officer now directly owns 211,712,405 shares in the company, valued at $336,622,723.95. This represents a 0.05 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders have acquired 480,183 shares of company stock valued at $741,275. 47.26% of the stock is owned by company insiders.

OPKO Health Stock Performance

OPK opened at $1.55 on Wednesday. The business has a fifty day simple moving average of $1.52 and a 200 day simple moving average of $1.45. The company has a market capitalization of $1.06 billion, a PE ratio of -8.13 and a beta of 1.65. OPKO Health, Inc. has a 1 year low of $0.85 and a 1 year high of $1.75. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.97 and a quick ratio of 2.69.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $3.00 price objective on shares of OPKO Health in a research note on Tuesday, September 17th. Barrington Research reiterated an “outperform” rating and issued a $2.25 price objective on shares of OPKO Health in a report on Friday, November 8th. Finally, HC Wainwright reissued a “buy” rating and issued a $3.00 price objective on shares of OPKO Health in a report on Thursday, September 26th.

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.