Pictet Asset Management Ltd. Boosts Position in Opko Health Inc. (NASDAQ:OPK)

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Pictet Asset Management Ltd. increased its position in Opko Health Inc. (NASDAQ:OPK) by 41.9% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 696,000 shares of the biotechnology company’s stock after purchasing an additional 205,600 shares during the period. Pictet Asset Management Ltd.’s holdings in Opko Health were worth $1,817,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Piedmont Investment Advisors Inc. bought a new position in Opko Health in the first quarter worth about $27,000. FDx Advisors Inc. bought a new stake in shares of Opko Health during the fourth quarter valued at approximately $33,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of Opko Health during the first quarter valued at approximately $39,000. Meeder Asset Management Inc. raised its holdings in shares of Opko Health by 58.7% during the first quarter. Meeder Asset Management Inc. now owns 13,102 shares of the biotechnology company’s stock valued at $35,000 after buying an additional 4,846 shares during the last quarter. Finally, Kovack Advisors Inc. bought a new stake in shares of Opko Health during the fourth quarter valued at approximately $48,000. Institutional investors and hedge funds own 25.35% of the company’s stock.

Shares of NASDAQ OPK traded up $0.01 during mid-day trading on Wednesday, reaching $1.87. 1,051,914 shares of the company traded hands, compared to its average volume of 4,998,076. Opko Health Inc. has a fifty-two week low of $1.73 and a fifty-two week high of $6.40. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.10 and a quick ratio of 0.99. The firm has a market capitalization of $1.15 billion, a PE ratio of -7.48 and a beta of 1.92.

Opko Health (NASDAQ:OPK) last posted its quarterly earnings data on Tuesday, May 7th. The biotechnology company reported ($0.14) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.08). Opko Health had a negative net margin of 19.92% and a negative return on equity of 9.86%. The company had revenue of $222.50 million for the quarter, compared to analyst estimates of $241.27 million. During the same quarter in the prior year, the business earned ($0.08) EPS. Opko Health’s revenue was down 12.7% compared to the same quarter last year. Sell-side analysts anticipate that Opko Health Inc. will post -0.42 earnings per share for the current fiscal year.

A number of research firms have recently weighed in on OPK. ValuEngine cut Opko Health from a “hold” rating to a “sell” rating in a report on Wednesday, May 1st. Zacks Investment Research raised Opko Health from a “hold” rating to a “buy” rating and set a $2.75 price target on the stock in a report on Tuesday, April 30th. Finally, Barrington Research reaffirmed a “buy” rating and set a $5.00 price target on shares of Opko Health in a report on Thursday, February 28th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $9.25.

In related news, CEO Phillip Md Et Al Frost acquired 150,000 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were acquired at an average price of $1.92 per share, for a total transaction of $288,000.00. Following the completion of the purchase, the chief executive officer now directly owns 3,068,951 shares of the company’s stock, valued at $5,892,385.92. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard C. Pfenniger, Jr. acquired 50,000 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were bought at an average price of $2.05 per share, for a total transaction of $102,500.00. Following the purchase, the director now directly owns 171,310 shares of the company’s stock, valued at $351,185.50. The disclosure for this purchase can be found here. Insiders have purchased 2,655,250 shares of company stock worth $5,638,500 in the last quarter. Company insiders own 42.25% of the company’s stock.

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Opko Health Profile

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 BioReference Laboratories, a clinical laboratory that offers laboratory testing services.

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Institutional Ownership by Quarter for Opko Health (NASDAQ:OPK)

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