Zacks Investment Research cut shares of Opko Health, Inc. (NASDAQ:OPK) from a hold rating to a sell rating in a research note issued to investors on Wednesday.
According to Zacks, “OPKO Health is a multinational biopharmaceutical and diagnostics company that seeks to establish industry-leading positions in large, rapidly growing markets by leveraging its discovery, development and commercialization expertise and novel and proprietary technologies. “
Other equities analysts have also issued research reports about the stock. Ladenburg Thalmann Financial Services reiterated a buy rating and issued a $16.00 price target on shares of Opko Health in a report on Monday, September 25th. Jefferies Group LLC reiterated a hold rating and issued a $6.50 price target (down previously from $6.80) on shares of Opko Health in a report on Thursday, August 10th. BidaskClub upgraded shares of Opko Health from a sell rating to a hold rating in a report on Monday, July 24th. J P Morgan Chase & Co lowered shares of Opko Health from an overweight rating to a neutral rating and decreased their price target for the company from $12.00 to $7.00 in a report on Thursday, September 14th. Finally, Barrington Research lifted their price target on shares of Opko Health to $11.00 and gave the company an outperform rating in a report on Tuesday, July 18th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $13.97.
Shares of Opko Health (NASDAQ OPK) traded up 1.03% during mid-day trading on Wednesday, reaching $6.88. The company’s stock had a trading volume of 4,497,472 shares. The company’s market capitalization is $3.85 billion. Opko Health has a 1-year low of $5.85 and a 1-year high of $12.15. The firm’s 50 day moving average price is $6.50 and its 200-day moving average price is $6.73.
Opko Health (NASDAQ:OPK) last announced its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($0.04) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.01. The company had revenue of $314.20 million for the quarter, compared to analyst estimates of $322.64 million. Opko Health had a negative net margin of 6.52% and a negative return on equity of 3.67%. Opko Health’s revenue for the quarter was down 12.0% on a year-over-year basis. During the same quarter last year, the business earned $0.02 EPS. On average, analysts predict that Opko Health will post ($0.20) EPS for the current year.
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In other news, CEO Phillip Md Et Al Frost purchased 5,400 shares of the company’s stock in a transaction that occurred on Thursday, July 20th. The shares were purchased at an average price of $6.46 per share, with a total value of $34,884.00. Following the purchase, the chief executive officer now directly owns 3,068,951 shares of the company’s stock, valued at approximately $19,825,423.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have purchased a total of 938,400 shares of company stock worth $5,745,521 in the last 90 days. Company insiders own 40.19% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Eqis Capital Management Inc. increased its position in shares of Opko Health by 28.5% in the 3rd quarter. Eqis Capital Management Inc. now owns 51,135 shares of the biotechnology company’s stock worth $351,000 after purchasing an additional 11,354 shares during the last quarter. Piedmont Investment Advisors LLC boosted its holdings in shares of Opko Health by 43.4% in the 2nd quarter. Piedmont Investment Advisors LLC now owns 230,643 shares of the biotechnology company’s stock valued at $1,518,000 after buying an additional 69,818 shares during the period. Psagot Investment House Ltd. boosted its holdings in shares of Opko Health by 20.0% in the 2nd quarter. Psagot Investment House Ltd. now owns 22,862 shares of the biotechnology company’s stock valued at $150,000 after buying an additional 3,806 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Opko Health by 7.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,535 shares of the biotechnology company’s stock valued at $149,000 after buying an additional 1,657 shares during the period. Finally, State Street Corp boosted its holdings in shares of Opko Health by 3.9% in the 2nd quarter. State Street Corp now owns 11,348,763 shares of the biotechnology company’s stock valued at $74,671,000 after buying an additional 422,203 shares during the period. 22.46% of the stock is owned by institutional investors.
About Opko Health
OPKO Health, Inc is a healthcare company. Its segments include Pharmaceutical, Diagnostics and Corporate. Pharmaceutical consists of the pharmaceutical operations in Chile, Mexico, Ireland, Israel and Spain and its pharmaceutical research and development operations. Diagnostics consists of the clinical laboratory operations in Bio-Reference Laboratories (Bio-Reference) and its point-of-care operations.
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