Geode Capital Management LLC Lowers Stake in OPKO Health, Inc. (NASDAQ:OPK)

Geode Capital Management LLC cut its position in shares of OPKO Health, Inc. (NASDAQ:OPK) by 5.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,374,745 shares of the biotechnology company’s stock after selling 450,186 shares during the quarter. Geode Capital Management LLC owned approximately 1.23% of OPKO Health worth $12,481,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of OPK. Rubric Capital Management LP boosted its position in shares of OPKO Health by 800.0% in the second quarter. Rubric Capital Management LP now owns 44,422,304 shares of the biotechnology company’s stock worth $55,528,000 after acquiring an additional 39,486,490 shares during the last quarter. Y.D. More Investments Ltd acquired a new stake in shares of OPKO Health in the second quarter worth approximately $1,840,000. Assenagon Asset Management S.A. boosted its position in shares of OPKO Health by 142.5% in 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 acquiring an additional 876,272 shares during the last quarter. Clearline Capital LP acquired a new stake in shares of OPKO Health in the third quarter worth approximately $1,083,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of OPKO Health in the second quarter worth approximately $592,000. 64.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on OPK. HC Wainwright reissued a “buy” rating and issued a $3.00 target price on shares of OPKO Health in a research report on Thursday, September 26th. Piper Sandler reissued an “overweight” rating and issued a $3.00 target price on shares of OPKO Health in a research report on Tuesday, September 17th. StockNews.com cut shares of OPKO Health from a “hold” rating to a “sell” rating in a research report on Thursday, December 26th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $2.25 price target on shares of OPKO Health in a research report on Friday, November 8th.

Insider Buying and Selling at OPKO Health

In other news, CEO Phillip Md Et Al Frost acquired 280,183 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were bought at an average price of $1.50 per share, for a total transaction of $420,274.50. Following the completion of the purchase, the chief executive officer now directly owns 211,512,405 shares of the company’s stock, valued at approximately $317,268,607.50. This trade represents a 0.13 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have acquired a total of 1,304,255 shares of company stock valued at $2,024,605 over the last ninety days. Corporate insiders own 47.26% of the company’s stock.

OPKO Health Trading Down 0.7 %

Shares of OPK stock opened at $1.47 on Tuesday. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of -7.74 and a beta of 1.62. The company has a quick ratio of 2.69, a current ratio of 2.97 and a debt-to-equity ratio of 0.30. OPKO Health, Inc. has a fifty-two week low of $0.85 and a fifty-two week high of $1.76. The firm’s 50 day moving average price is $1.55 and its two-hundred day moving average price is $1.49.

OPKO Health 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.