OPKO Health (NASDAQ:OPK) Sees Large Volume Increase Following Insider Buying Activity

Shares of OPKO Health, Inc. (NASDAQ:OPK) saw unusually-high trading volume on Wednesday following insider buying activity. Approximately 3,744,040 shares traded hands during mid-day trading, a decline of 8% from the previous session’s volume of 4,068,860 shares.The stock last traded at $1.67 and had previously closed at $1.66.

Specifically, CEO Phillip Md Et Al Frost bought 100,000 shares of the business’s stock in a transaction on Tuesday, April 1st. The stock was bought at an average price of $1.65 per share, for a total transaction of $165,000.00. Following the completion of the transaction, the chief executive officer now owns 213,751,448 shares in the company, valued at approximately $352,689,889.20. The trade was a 0.05 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Phillip Md Et Al Frost acquired 150,000 shares of the company’s stock in a transaction dated Friday, March 28th. The shares were acquired at an average cost of $1.70 per share, with a total value of $255,000.00. Following the completion of the purchase, the chief executive officer now owns 213,651,448 shares in the company, valued at approximately $363,207,461.60. This represents a 0.07 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Analysts Set New Price Targets

OPK has been the topic of a number of recent research reports. StockNews.com raised OPKO Health from a “sell” rating to a “hold” rating in a research note on Monday, March 3rd. Barrington Research reaffirmed an “outperform” rating and set a $2.25 price objective on shares of OPKO Health in a research note on Wednesday, March 12th. Finally, HC Wainwright reiterated a “buy” rating and set a $3.00 price objective on shares of OPKO Health in a research report on Wednesday, March 19th.

OPKO Health Trading Down 0.6 %

The business has a 50 day simple moving average of $1.69 and a two-hundred day simple moving average of $1.58. The company has a current ratio of 2.97, a quick ratio of 2.69 and a debt-to-equity ratio of 0.30. The company has a market cap of $1.11 billion, a PE ratio of -8.68 and a beta of 1.70.

OPKO Health (NASDAQ:OPK) last released its earnings results on Thursday, February 27th. The biotechnology company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.09. The firm had revenue of $183.60 million for the quarter, compared to the consensus estimate of $155.42 million. OPKO Health had a negative return on equity of 9.76% and a negative net margin of 18.65%. On average, analysts forecast that OPKO Health, Inc. will post -0.25 EPS for the current fiscal year.

Institutional Investors Weigh In On OPKO Health

Hedge funds have recently modified their holdings of the stock. Millennium Management LLC raised its stake in OPKO Health by 85.3% during the fourth quarter. Millennium Management LLC now owns 4,588,526 shares of the biotechnology company’s stock worth $6,745,000 after purchasing an additional 2,112,382 shares during the period. Lazard Asset Management LLC increased its holdings in shares of OPKO Health by 143.6% during the 4th quarter. Lazard Asset Management LLC now owns 2,548,667 shares of the biotechnology company’s stock worth $3,746,000 after buying an additional 1,502,342 shares during the last quarter. Altshuler Shaham Ltd acquired a new position in OPKO Health in the fourth quarter valued at $2,082,000. Norges Bank purchased a new stake in OPKO Health during the fourth quarter valued at about $1,657,000. Finally, Two Sigma Investments LP increased its stake in OPKO Health by 136.1% during the fourth quarter. Two Sigma Investments LP now owns 1,647,567 shares of the biotechnology company’s stock worth $2,422,000 after acquiring an additional 949,671 shares during the last quarter. 64.63% of the stock is owned by institutional investors and hedge funds.

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.