OPKO Health (NASDAQ:OPK) Shares Gap Down After Earnings Miss

OPKO Health, Inc. (NASDAQ:OPK) shares gapped down prior to trading on Thursday following a dissappointing earnings announcement. The stock had previously closed at $1.38, but opened at $1.31. OPKO Health shares last traded at $1.36, with a volume of 1,160,743 shares changing hands.

The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.03). The firm had revenue of $149.90 million during the quarter, compared to the consensus estimate of $163.13 million. OPKO Health had a negative return on equity of 9.76% and a negative net margin of 18.65%. The company’s quarterly revenue was down 13.7% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.12) EPS.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on OPK shares. HC Wainwright restated a “buy” rating and issued a $3.00 price target on shares of OPKO Health in a research note on Monday, April 7th. Barrington Research reaffirmed an “outperform” rating and issued a $2.25 target price on shares of OPKO Health in a research report on Thursday. StockNews.com raised OPKO Health from a “sell” rating to a “hold” rating in a report on Monday, March 3rd. Finally, JPMorgan Chase & Co. began coverage on OPKO Health in a report on Friday, April 25th. They issued a “neutral” rating for the company. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $2.75.

Insider Buying and Selling

In other news, CEO Phillip Md Et Al Frost acquired 125,000 shares of the firm’s stock in a transaction dated Thursday, April 10th. The shares were acquired at an average cost of $1.36 per share, with a total value of $170,000.00. Following the acquisition, the chief executive officer now directly owns 214,001,448 shares of the company’s stock, valued at approximately $291,041,969.28. The trade was a 0.06 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last three months, insiders have acquired 767,434 shares of company stock valued at $1,238,312. Corporate insiders own 49.69% of the company’s stock.

Hedge Funds Weigh In On OPKO Health

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC lifted its holdings in shares of OPKO Health by 154.5% in the 3rd quarter. Barclays PLC now owns 543,336 shares of the biotechnology company’s stock worth $810,000 after acquiring an additional 329,870 shares during the last quarter. Norges Bank purchased a new position in OPKO Health during the 4th quarter valued at $1,657,000. Raymond James Financial Inc. purchased a new position in OPKO Health during the 4th quarter valued at $221,000. Altshuler Shaham Ltd bought a new stake in OPKO Health during the 4th quarter valued at about $2,082,000. Finally, Marshall Wace LLP grew its stake in OPKO Health by 856.5% in the 4th quarter. Marshall Wace LLP now owns 921,487 shares of the biotechnology company’s stock worth $1,355,000 after acquiring an additional 825,143 shares in the last quarter. Hedge funds and other institutional investors own 64.63% of the company’s stock.

OPKO Health Trading Up 2.6 %

The stock’s 50-day moving average price is $1.61 and its 200 day moving average price is $1.57. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.97 and a quick ratio of 2.69. The firm has a market capitalization of $930.10 million, a PE ratio of -7.29 and a beta of 1.42.

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.