OPKO Health (NASDAQ:OPK) Shares Gap Down to $1.23

OPKO Health, Inc. (NASDAQ:OPK) shares gapped down before the market opened on Friday . The stock had previously closed at $1.23, but opened at $1.20. OPKO Health shares last traded at $1.24, with a volume of 321,622 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on OPK. Barrington Research reiterated an “outperform” rating and set a $1.50 price objective on shares of OPKO Health in a report on Monday, April 1st. StockNews.com lowered shares of OPKO Health from a “hold” rating to a “sell” rating in a report on Friday, March 1st. HC Wainwright reiterated a “buy” rating and set a $3.00 price objective on shares of OPKO Health in a report on Wednesday, April 3rd. Finally, Piper Sandler reiterated an “overweight” rating and set a $5.00 price objective on shares of OPKO Health in a report on Monday, April 1st.

OPKO Health Price Performance

The company has a current ratio of 1.55, a quick ratio of 1.22 and a debt-to-equity ratio of 0.15. The firm has a market cap of $857.30 million, a PE ratio of -4.92 and a beta of 1.82. The business’s 50-day simple moving average is $1.08 and its 200 day simple moving average is $1.23.

OPKO Health (NASDAQ:OPK) last posted its earnings results on Tuesday, February 27th. The biotechnology company reported ($0.09) EPS for the quarter, meeting analysts’ consensus estimates of ($0.09). The business had revenue of $181.90 million for the quarter, compared to the consensus estimate of $177.53 million. OPKO Health had a negative net margin of 21.76% and a negative return on equity of 12.69%. The company’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.11) EPS. As a group, equities research analysts expect that OPKO Health, Inc. will post -0.33 earnings per share for the current year.

Insider Activity at OPKO Health

In other OPKO Health news, CEO Phillip Md Et Al Frost acquired 500,000 shares of the stock in a transaction dated Monday, March 18th. The stock was purchased at an average price of $0.87 per share, with a total value of $435,000.00. Following the transaction, the chief executive officer now directly owns 210,968,225 shares of the company’s stock, valued at $183,542,355.75. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Phillip Md Et Al Frost acquired 500,000 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were purchased at an average price of $0.87 per share, for a total transaction of $435,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 210,968,225 shares in the company, valued at approximately $183,542,355.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Richard M. Krasno bought 30,000 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was bought at an average price of $0.99 per share, with a total value of $29,700.00. Following the completion of the purchase, the director now directly owns 103,333 shares in the company, valued at $102,299.67. The disclosure for this purchase can be found here. Insiders bought 4,630,000 shares of company stock valued at $4,422,700 over the last 90 days. Insiders own 47.26% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of OPKO Health by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 39,751,293 shares of the biotechnology company’s stock valued at $60,024,000 after acquiring an additional 428,520 shares during the last quarter. State Street Corp lifted its holdings in shares of OPKO Health by 56.7% in the 1st quarter. State Street Corp now owns 27,688,831 shares of the biotechnology company’s stock valued at $95,250,000 after buying an additional 10,014,088 shares during the period. Geode Capital Management LLC boosted its stake in shares of OPKO Health by 3.9% in the second quarter. Geode Capital Management LLC now owns 8,742,614 shares of the biotechnology company’s stock worth $18,971,000 after buying an additional 331,968 shares during the last quarter. Millennium Management LLC grew its holdings in OPKO Health by 318.6% during the second quarter. Millennium Management LLC now owns 7,390,435 shares of the biotechnology company’s stock worth $18,698,000 after acquiring an additional 5,624,866 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in OPKO Health by 73.2% during the first quarter. Dimensional Fund Advisors LP now owns 7,184,414 shares of the biotechnology company’s stock valued at $24,717,000 after acquiring an additional 3,037,320 shares in the last quarter. 64.63% of the stock is owned by institutional investors and hedge funds.

About OPKO Health

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.