OPKO Health (NASDAQ:OPK) Sets New 52-Week Low After Earnings Miss

OPKO Health, Inc. (NASDAQ:OPK)’s stock price hit a new 52-week low on Friday after the company announced weaker than expected quarterly earnings. The company traded as low as $1.14 and last traded at $1.13, with a volume of 1420395 shares. The stock had previously closed at $1.28.

The biotechnology company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.07). OPKO Health had a negative return on equity of 13.02% and a negative net margin of 26.68%. The business had revenue of $156.80 million for the quarter, compared to analyst estimates of $165.74 million. During the same period in the previous year, the company posted ($0.01) earnings per share. The business’s revenue for the quarter was down 13.9% on a year-over-year basis.

Wall Street Analyst Weigh In

OPK has been the topic of several recent analyst reports. HC Wainwright restated a “buy” rating and set a $3.00 price objective on shares of OPKO Health in a report on Monday, April 7th. Wall Street Zen lowered shares of OPKO Health from a “hold” rating to a “sell” rating in a research note on Monday, May 5th. JPMorgan Chase & Co. assumed coverage on shares of OPKO Health in a research note on Friday, April 25th. They set a “neutral” rating on the stock. Barrington Research restated an “outperform” rating and set a $2.25 price target on shares of OPKO Health in a research note on Thursday, May 1st. Finally, LADENBURG THALM/SH SH raised OPKO Health to a “strong-buy” rating in a research report on Tuesday, July 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $2.75.

Institutional Trading of OPKO Health

A number of hedge funds and other institutional investors have recently made changes to their positions in OPK. Sculptor Capital LP acquired a new stake in shares of OPKO Health in the first quarter worth $21,111,000. Graham Capital Management L.P. grew its position in OPKO Health by 214.7% during the 1st quarter. Graham Capital Management L.P. now owns 1,810,392 shares of the biotechnology company’s stock worth $3,005,000 after purchasing an additional 3,388,292 shares during the period. Millennium Management LLC grew its position in OPKO Health by 85.3% during the 4th quarter. Millennium Management LLC now owns 4,588,526 shares of the biotechnology company’s stock worth $6,745,000 after purchasing an additional 2,112,382 shares during the period. Lazard Asset Management LLC grew its position in OPKO Health by 143.6% during the 4th quarter. Lazard Asset Management LLC now owns 2,548,667 shares of the biotechnology company’s stock worth $3,746,000 after purchasing an additional 1,502,342 shares during the period. Finally, Altshuler Shaham Ltd acquired a new stake in OPKO Health during the fourth quarter worth about $2,082,000. Institutional investors and hedge funds own 64.63% of the company’s stock.

OPKO Health Stock Performance

The stock has a market capitalization of $943.73 million, a price-to-earnings ratio of -4.76 and a beta of 1.19. The firm has a fifty day moving average of $1.34 and a 200 day moving average of $1.48. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.49 and a quick ratio of 2.28.

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.