OPKO Health (NASDAQ:OPK) Shares Up 4% Following Insider Buying Activity

OPKO Health, Inc. (NASDAQ:OPK)’s share price shot up 4% during trading on Thursday following insider buying activity. The company traded as high as $1.66 and last traded at $1.65. 1,068,130 shares changed hands during trading, a decline of 84% from the average session volume of 6,794,573 shares. The stock had previously closed at $1.59.

Specifically, CEO Phillip Md Et Al Frost bought 500,000 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was bought at an average price of $1.56 per share, for a total transaction of $780,000.00. Following the purchase, the chief executive officer now owns 212,411,477 shares in the company, valued at $331,361,904.12. This represents a 0.24 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on OPK. HC Wainwright restated a “buy” rating and set a $3.00 price objective on shares of OPKO Health in a report on Thursday, September 26th. Piper Sandler reaffirmed an “overweight” rating and issued a $3.00 price objective on shares of OPKO Health in a report on Tuesday, September 17th. Finally, Barrington Research reissued an “outperform” rating and set a $2.25 target price on shares of OPKO Health in a report on Friday, November 8th.

OPKO Health Stock Performance

The firm has a market capitalization of $1.10 billion, a P/E ratio of -8.47 and a beta of 1.62. The company has a 50-day moving average of $1.53 and a 200-day moving average of $1.47. The company has a current ratio of 2.97, a quick ratio of 2.69 and a debt-to-equity ratio of 0.30.

Institutional Trading of OPKO Health

Institutional investors have recently bought and sold shares of the company. CIBC Asset Management Inc boosted its position in shares of OPKO Health by 79.1% during the 2nd quarter. CIBC Asset Management Inc now owns 20,322 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 8,978 shares in the last quarter. FMR LLC grew its position in OPKO Health by 103.6% in the 3rd quarter. FMR LLC now owns 21,795 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 11,089 shares during the period. Algert Global LLC bought a new stake in OPKO Health during the 2nd quarter valued at $44,000. Orion Portfolio Solutions LLC bought a new stake in OPKO Health during the 3rd quarter valued at $45,000. Finally, Private Advisor Group LLC raised its holdings in OPKO Health by 242.7% during the third quarter. Private Advisor Group LLC now owns 35,301 shares of the biotechnology company’s stock worth $53,000 after buying an additional 25,000 shares during the last quarter. Institutional investors own 64.63% of the company’s stock.

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.