OPKO Health (NASDAQ:OPK) Shares Cross Below Fifty Day Moving Average – Here’s Why

OPKO Health, Inc. (NASDAQ:OPK) shares passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $1.32 and traded as low as $1.2715. OPKO Health shares last traded at $1.28, with a volume of 1,691,533 shares.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on OPK shares. Jefferies Financial Group reaffirmed a “hold” rating and issued a $1.60 target price (down from $2.00) on shares of OPKO Health in a research report on Thursday, October 30th. Wall Street Zen upgraded shares of OPKO Health from a “sell” rating to a “hold” rating in a report on Sunday, December 21st. JPMorgan Chase & Co. started coverage on shares of OPKO Health in a report on Thursday, November 20th. They set a “neutral” rating on the stock. Barrington Research reissued an “outperform” rating and issued a $2.25 price target on shares of OPKO Health in a research report on Thursday, October 30th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of OPKO Health in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $2.28.

OPKO Health Price Performance

The firm has a market capitalization of $982.66 million, a price-to-earnings ratio of -5.12 and a beta of 1.39. The stock’s fifty day moving average price is $1.32 and its two-hundred day moving average price is $1.38. The company has a current ratio of 3.70, a quick ratio of 3.32 and a debt-to-equity ratio of 0.25.

OPKO Health (NASDAQ:OPK) last posted its earnings results on Wednesday, October 29th. The biotechnology company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.05. OPKO Health had a negative return on equity of 13.67% and a negative net margin of 28.10%.The firm had revenue of $151.67 million for the quarter, compared to analyst estimates of $165.74 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. OPKO Health’s revenue for the quarter was down 12.6% compared to the same quarter last year. Equities research analysts expect that OPKO Health, Inc. will post -0.25 EPS for the current year.

Insider Activity at OPKO Health

In other OPKO Health news, CEO Phillip Md Et Al Frost bought 580,000 shares of the business’s stock in a transaction dated Friday, November 21st. The shares were acquired at an average price of $1.33 per share, with a total value of $771,400.00. Following the transaction, the chief executive officer owned 216,706,448 shares of the company’s stock, valued at approximately $288,219,575.84. The trade was a 0.27% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders bought 1,843,300 shares of company stock valued at $2,421,491. Corporate insiders own 49.69% of the company’s stock.

Institutional Trading of OPKO Health

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OPK. Brighton Jones LLC lifted its position in shares of OPKO Health by 29.1% during the 2nd quarter. Brighton Jones LLC now owns 38,916 shares of the biotechnology company’s stock worth $51,000 after buying an additional 8,775 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in OPKO Health by 4.7% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 198,148 shares of the biotechnology company’s stock worth $262,000 after acquiring an additional 8,954 shares in the last quarter. 360 Financial Inc. lifted its position in OPKO Health by 12.0% in the second quarter. 360 Financial Inc. now owns 88,800 shares of the biotechnology company’s stock valued at $117,000 after acquiring an additional 9,500 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in OPKO Health by 11.2% in the second quarter. The Manufacturers Life Insurance Company now owns 138,643 shares of the biotechnology company’s stock valued at $183,000 after acquiring an additional 13,912 shares in the last quarter. Finally, Caprock Group LLC acquired a new position in OPKO Health in the third quarter valued at $26,000. Institutional investors and hedge funds own 64.63% of the company’s stock.

About OPKO Health

OPKO Health, Inc (NASDAQ:OPK) is a diversified, global healthcare company headquartered in Miami, Florida, with a focus on diagnostics, pharmaceuticals and biologics development. The company operates two main business segments—Laboratory Services and Pharma Services & Products—driven by its mission to advance patient care through innovation in testing and targeted therapies.

In its Laboratory Services segment, OPKO leverages BioReference Laboratories, one of the largest full-service commercial labs in the United States.