Jefferies Financial Group Comments on Opko Health Inc.’s Q3 2018 Earnings (OPK)

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Opko Health Inc. (NASDAQ:OPK) – Equities researchers at Jefferies Financial Group reduced their Q3 2018 earnings per share estimates for shares of Opko Health in a note issued to investors on Wednesday, August 8th. Jefferies Financial Group analyst B. Couillard now expects that the biotechnology company will post earnings per share of ($0.11) for the quarter, down from their previous forecast of ($0.07). Jefferies Financial Group also issued estimates for Opko Health’s Q4 2018 earnings at ($0.10) EPS, FY2018 earnings at ($0.29) EPS, Q1 2019 earnings at $0.00 EPS, Q4 2019 earnings at ($0.03) EPS and FY2019 earnings at ($0.25) EPS.

Opko Health (NASDAQ:OPK) last issued its earnings results on Tuesday, August 7th. The biotechnology company reported ($0.01) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.06. The company had revenue of $263.69 million during the quarter, compared to analyst estimates of $260.37 million. Opko Health had a negative return on equity of 9.32% and a negative net margin of 31.73%.

OPK has been the subject of a number of other research reports. BidaskClub upgraded Opko Health from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 10th. Zacks Investment Research upgraded Opko Health from a “sell” rating to a “hold” rating and set a $4.75 target price for the company in a research note on Wednesday, May 9th. ValuEngine upgraded Opko Health from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 2nd. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $20.00 target price on shares of Opko Health in a research note on Tuesday, August 7th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $10.95.

Shares of Opko Health opened at $5.42 on Monday, Marketbeat.com reports. The firm has a market capitalization of $3.08 billion, a P/E ratio of -18.69 and a beta of 1.81. The company has a quick ratio of 0.94, a current ratio of 1.05 and a debt-to-equity ratio of 0.03. Opko Health has a 1 year low of $2.66 and a 1 year high of $7.24.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OPK. Raymond James & Associates raised its stake in shares of Opko Health by 36.4% during the 4th quarter. Raymond James & Associates now owns 332,514 shares of the biotechnology company’s stock valued at $1,629,000 after buying an additional 88,725 shares during the last quarter. Teachers Advisors LLC raised its stake in shares of Opko Health by 3.5% during the 4th quarter. Teachers Advisors LLC now owns 489,837 shares of the biotechnology company’s stock valued at $2,400,000 after buying an additional 16,675 shares during the last quarter. Xact Kapitalforvaltning AB purchased a new position in shares of Opko Health during the 4th quarter valued at about $179,000. Wells Fargo & Company MN raised its stake in shares of Opko Health by 10.1% during the 1st quarter. Wells Fargo & Company MN now owns 537,283 shares of the biotechnology company’s stock valued at $1,703,000 after buying an additional 49,320 shares during the last quarter. Finally, Intrinsic Edge Capital Management LLC raised its stake in shares of Opko Health by 1,075.2% during the 1st quarter. Intrinsic Edge Capital Management LLC now owns 700,000 shares of the biotechnology company’s stock valued at $2,219,000 after buying an additional 640,434 shares during the last quarter. Institutional investors and hedge funds own 23.55% of the company’s stock.

In related news, CEO Phillip Md Et Al Frost acquired 10,000 shares of Opko Health stock in a transaction on Friday, May 25th. The stock was acquired at an average price of $3.70 per share, for a total transaction of $37,000.00. Following the purchase, the chief executive officer now owns 3,068,951 shares of the company’s stock, valued at approximately $11,355,118.70. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders purchased a total of 560,919 shares of company stock valued at $2,533,008 in the last 90 days. 42.74% of the stock is currently owned by company insiders.

About Opko Health

OPKO Health, Inc, a healthcare company, engages in the diagnostics and pharmaceuticals business in the United States, Ireland, Chile, Spain, Israel, Mexico, and internationally. The company's Diagnostics segment operates Bio-Reference Laboratories, a clinical laboratory that offers laboratory testing services in the detection, diagnosis, evaluation, monitoring, and treatment of diseases.

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Earnings History and Estimates for Opko Health (NASDAQ:OPK)

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