Opko Health (OPK) Trading Down 14.8%

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Opko Health Inc. (NASDAQ:OPK) fell 14.8% during mid-day trading on Friday . The company traded as low as $3.77 and last traded at $3.90. 28,303,523 shares were traded during trading, an increase of 410% from the average session volume of 5,547,721 shares. The stock had previously closed at $4.58.

A number of research firms have issued reports on OPK. ValuEngine upgraded Opko Health from a “sell” rating to a “hold” rating in a research note on Friday, September 7th. Zacks Investment Research downgraded Opko Health from a “buy” rating to a “hold” rating in a research note on Friday, May 25th. BidaskClub upgraded Opko Health from a “hold” rating to a “buy” rating in a research note on Friday, June 15th. Finally, Cantor Fitzgerald restated a “buy” rating and set a $20.00 price target on shares of Opko Health in a research note on Tuesday, August 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $10.95.

The company has a quick ratio of 0.90, a current ratio of 1.05 and a debt-to-equity ratio of 0.03.

Opko Health (NASDAQ:OPK) last posted its quarterly earnings data on Tuesday, August 7th. The biotechnology company reported ($0.01) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.06. Opko Health had a negative return on equity of 9.32% and a negative net margin of 31.73%. The firm had revenue of $263.69 million for the quarter, compared to analysts’ expectations of $260.37 million. analysts expect that Opko Health Inc. will post -0.23 EPS for the current year.

In related news, CEO Phillip Md Et Al Frost acquired 30,000 shares of the stock in a transaction dated Thursday, June 21st. The shares were purchased at an average cost of $4.54 per share, with a total value of $136,200.00. Following the transaction, the chief executive officer now directly owns 3,068,951 shares in the company, valued at $13,933,037.54. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have bought 334,519 shares of company stock worth $1,760,069. Insiders own 42.74% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of OPK. BlackRock Inc. lifted its holdings in Opko Health by 38.7% in the 2nd quarter. BlackRock Inc. now owns 29,531,554 shares of the biotechnology company’s stock worth $138,798,000 after purchasing an additional 8,237,434 shares in the last quarter. Millennium Management LLC lifted its holdings in Opko Health by 95.6% in the 1st quarter. Millennium Management LLC now owns 2,178,877 shares of the biotechnology company’s stock worth $6,907,000 after purchasing an additional 1,065,216 shares in the last quarter. RK Asset Management LLC purchased a new position in Opko Health in the 2nd quarter worth approximately $4,822,000. Schwab Charles Investment Management Inc. lifted its holdings in Opko Health by 49.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 2,395,831 shares of the biotechnology company’s stock worth $11,261,000 after purchasing an additional 788,753 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in Opko Health by 22.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 2,263,400 shares of the biotechnology company’s stock worth $10,638,000 after purchasing an additional 418,200 shares in the last quarter. 24.79% of the stock is currently owned by institutional investors.

Opko Health Company Profile (NASDAQ:OPK)

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.

See Also: Fiduciary

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