OPKO Health (NASDAQ:OPK) Shares Down 3.3%

OPKO Health, Inc. (NASDAQ:OPK) shares traded down 3.3% during trading on Monday . The stock traded as low as $1.49 and last traded at $1.51. 623,004 shares traded hands during trading, a decline of 92% from the average session volume of 7,917,479 shares. The stock had previously closed at $1.56.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Piper Sandler reduced their target price on shares of OPKO Health from $5.00 to $3.00 and set an “overweight” rating for the company in a report on Thursday, July 18th. Barrington Research increased their price target on shares of OPKO Health from $1.50 to $2.25 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Finally, StockNews.com upgraded shares of OPKO Health to a “sell” rating in a research note on Saturday, July 27th.

OPKO Health Trading Down 4.1 %

The business’s 50 day moving average price is $1.48 and its 200-day moving average price is $1.30. The company has a current ratio of 1.63, a quick ratio of 1.36 and a debt-to-equity ratio of 0.13. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -4.54 and a beta of 1.64.

OPKO Health (NASDAQ:OPK) last released its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.08. OPKO Health had a negative net margin of 33.79% and a negative return on equity of 17.67%. The business had revenue of $182.20 million for the quarter, compared to analyst estimates of $184.70 million. During the same period last year, the firm earned ($0.03) earnings per share. OPKO Health’s revenue for the quarter was down 31.3% compared to the same quarter last year. On average, equities analysts anticipate that OPKO Health, Inc. will post -0.29 EPS for the current fiscal year.

Insider Activity at OPKO Health

In related news, major shareholder Opko Health, Inc. sold 14,082 shares of OPKO Health stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $28.23, for a total transaction of $397,534.86. Following the sale, the insider now directly owns 3,469,521 shares of the company’s stock, valued at approximately $97,944,577.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 736,644 shares of company stock valued at $23,874,134. 47.26% of the stock is owned by insiders.

Institutional Investors Weigh In On OPKO Health

Several hedge funds have recently added to or reduced their stakes in OPK. Rubric Capital Management LP boosted its position in OPKO Health by 800.0% during the 2nd quarter. Rubric Capital Management LP now owns 44,422,304 shares of the biotechnology company’s stock worth $55,528,000 after buying an additional 39,486,490 shares during the period. Y.D. More Investments Ltd acquired a new position in shares of OPKO Health in the 2nd quarter worth approximately $1,840,000. Assenagon Asset Management S.A. lifted its position in shares of OPKO Health by 107.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,253,808 shares of the biotechnology company’s stock worth $1,502,000 after purchasing an additional 648,569 shares during the period. Squarepoint Ops LLC acquired a new position in shares of OPKO Health in the 2nd quarter worth approximately $592,000. Finally, Lazard Asset Management LLC acquired a new position in shares of OPKO Health in the 1st quarter worth approximately $258,000. 64.63% of the stock is currently owned by institutional investors and hedge funds.

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.