Opko Health, Inc. (NASDAQ:OPK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.
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. “
Several other research firms have also recently issued reports on OPK. BidaskClub cut Opko Health from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Cantor Fitzgerald started coverage on Opko Health in a research report on Thursday, August 17th. They issued an “overweight” rating and a $20.00 price objective on the stock. Jefferies Group LLC reaffirmed a “hold” rating and issued a $6.50 price objective (down from $6.80) on shares of Opko Health in a research report on Thursday, August 10th. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Opko Health in a research report on Monday, September 25th. Finally, Barrington Research upped their price objective on Opko Health to $11.00 and gave the company an “outperform” rating in a research report on Tuesday, July 18th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $13.97.
Shares of Opko Health (NASDAQ OPK) opened at $4.74 on Tuesday. The company has a current ratio of 1.66, a quick ratio of 1.48 and a debt-to-equity ratio of 0.01. Opko Health has a 12-month low of $4.50 and a 12-month high of $12.15.
Opko Health (NASDAQ:OPK) last issued its quarterly earnings results on Wednesday, November 8th. The biotechnology company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). Opko Health had a negative return on equity of 5.17% and a negative net margin of 9.45%. The company had revenue of $263.50 million during the quarter, compared to the consensus estimate of $319.43 million. During the same period in the prior year, the firm earned ($0.03) earnings per share. The business’s revenue for the quarter was down 11.6% compared to the same quarter last year. equities research analysts anticipate that Opko Health will post -0.27 EPS for the current year.
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In related news, CEO Phillip Md Et Al Frost acquired 25,000 shares of Opko Health stock in a transaction dated Monday, August 21st. The stock was purchased at an average cost of $6.10 per share, for a total transaction of $152,500.00. Following the purchase, the chief executive officer now directly owns 3,068,951 shares of the company’s stock, valued at approximately $18,720,601.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Opko Health, Inc. acquired 655,738 shares of Opko Health stock in a transaction dated Monday, October 30th. The stock was bought at an average price of $3.05 per share, with a total value of $2,000,000.90. Following the completion of the purchase, the insider now directly owns 6,678,752 shares in the company, valued at $20,370,193.60. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 1,126,038 shares of company stock valued at $4,828,540. Company insiders own 40.19% of the company’s stock.
A number of hedge funds have recently modified their holdings of OPK. Teachers Advisors LLC increased its stake in Opko Health by 3.0% in the 1st quarter. Teachers Advisors LLC now owns 405,251 shares of the biotechnology company’s stock worth $3,242,000 after buying an additional 11,782 shares in the last quarter. Legal & General Group Plc increased its stake in Opko Health by 217.4% in the 1st quarter. Legal & General Group Plc now owns 111,673 shares of the biotechnology company’s stock worth $893,000 after buying an additional 76,487 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Opko Health by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,621,128 shares of the biotechnology company’s stock worth $12,968,000 after buying an additional 31,225 shares in the last quarter. BlackRock Inc. increased its stake in Opko Health by 11,481.3% in the 1st quarter. BlackRock Inc. now owns 22,645,285 shares of the biotechnology company’s stock worth $181,163,000 after buying an additional 22,449,752 shares in the last quarter. Finally, Credit Suisse AG increased its stake in Opko Health by 122.0% in the 1st quarter. Credit Suisse AG now owns 746,958 shares of the biotechnology company’s stock worth $5,976,000 after buying an additional 410,445 shares in the last quarter. Institutional investors and hedge funds own 22.66% of the company’s stock.
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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