Opko Health (OPK) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Opko Health (NASDAQ:OPK) from a hold rating to a sell rating in a report published on Friday.

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 research analysts have also recently issued reports about the stock. BidaskClub cut shares of Opko Health from a sell rating to a strong sell rating in a report on Wednesday, January 10th. Cantor Fitzgerald set a $20.00 price target on shares of Opko Health and gave the stock a buy rating in a report on Wednesday, October 25th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $13.34.

Opko Health (OPK) traded down $0.15 during trading on Friday, reaching $3.88. 9,858,359 shares of the company traded hands, compared to its average volume of 4,770,000. Opko Health has a 1-year low of $3.61 and a 1-year high of $8.92. The stock has a market capitalization of $2,090.00, a PE ratio of -20.42 and a beta of 1.42. The company has a current ratio of 1.66, a quick ratio of 1.48 and a debt-to-equity ratio of 0.01.

In related news, CEO Phillip Md Et Al Frost bought 55,000 shares of the company’s stock in a transaction on Friday, January 26th. The shares were purchased at an average cost of $4.90 per share, for a total transaction of $269,500.00. Following the completion of the purchase, the chief executive officer now directly owns 3,068,951 shares in the company, valued at $15,037,859.90. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Over the last quarter, insiders acquired 503,000 shares of company stock worth $2,261,710. Corporate insiders own 40.19% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Opko Health by 1.1% in the second quarter. Vanguard Group Inc. now owns 26,618,758 shares of the biotechnology company’s stock valued at $175,151,000 after purchasing an additional 296,757 shares during the period. BlackRock Inc. raised its position in shares of Opko Health by 1.1% in the second quarter. BlackRock Inc. now owns 22,901,261 shares of the biotechnology company’s stock valued at $150,689,000 after purchasing an additional 255,976 shares during the period. State Street Corp raised its position in shares of Opko Health by 3.9% in the second quarter. State Street Corp now owns 11,348,763 shares of the biotechnology company’s stock valued at $74,671,000 after purchasing an additional 422,203 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Opko Health by 127.2% in the third quarter. Dimensional Fund Advisors LP now owns 4,003,643 shares of the biotechnology company’s stock valued at $27,466,000 after purchasing an additional 2,241,103 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Opko Health by 83.7% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,579,950 shares of the biotechnology company’s stock valued at $17,698,000 after purchasing an additional 1,175,726 shares during the period. 22.94% of the stock is currently owned by institutional investors.

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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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