BidaskClub downgraded shares of Opko Health, Inc. (NASDAQ:OPK) from a hold rating to a sell rating in a report published on Saturday morning.
OPK has been the subject of several other reports. Cantor Fitzgerald assumed coverage on Opko Health in a report on Thursday, August 17th. They issued an overweight rating and a $20.00 price objective for the company. Zacks Investment Research upgraded Opko Health from a hold rating to a buy rating and set a $7.25 price objective for the company in a report on Friday, July 21st. Barrington Research lifted their price objective on Opko Health to $11.00 and gave the stock an outperform rating in a report on Tuesday, July 18th. Jefferies Group LLC reiterated a hold rating and issued a $8.00 price objective on shares of Opko Health in a report on Thursday, July 27th. Finally, J P Morgan Chase & Co downgraded Opko Health from an overweight rating to a neutral rating and reduced their price objective for the stock from $12.00 to $7.00 in a report on Thursday, September 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $13.97.
Opko Health (OPK) opened at $5.26 on Friday. Opko Health has a twelve month low of $5.25 and a twelve month high of $12.15. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.48 and a current ratio of 1.66.
Opko Health (NASDAQ:OPK) last issued its quarterly earnings results on Wednesday, November 8th. The biotechnology company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.03). Opko Health had a negative net margin of 9.45% and a negative return on equity of 5.17%. The company had revenue of $263.50 million for the quarter, compared to the consensus estimate of $319.43 million. During the same quarter in the previous year, the business earned ($0.03) earnings per share. Opko Health’s revenue was down 11.6% compared to the same quarter last year. research analysts anticipate that Opko Health will post -0.2 earnings per share for the current fiscal year.
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In other Opko Health news, major shareholder Opko Health, Inc. purchased 655,738 shares of the stock in a transaction that occurred on Monday, October 30th. The shares were bought at an average cost of $3.05 per share, with a total value of $2,000,000.90. Following the acquisition, the insider now owns 6,678,752 shares in the company, valued at $20,370,193.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Phillip Md Et Al Frost purchased 260,000 shares of the stock in a transaction that occurred on Thursday, September 14th. The stock was acquired at an average cost of $5.98 per share, for a total transaction of $1,554,800.00. Following the completion of the acquisition, the chief executive officer now owns 3,068,951 shares in the company, valued at approximately $18,352,326.98. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 1,216,038 shares of company stock worth $5,368,140. Insiders own 40.19% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Credit Suisse AG increased its position in shares of Opko Health by 122.0% during the 1st quarter. Credit Suisse AG now owns 746,958 shares of the biotechnology company’s stock valued at $5,976,000 after purchasing an additional 410,445 shares during the last quarter. State Street Corp boosted its holdings in Opko Health by 40.3% during the 1st quarter. State Street Corp now owns 10,926,560 shares of the biotechnology company’s stock valued at $87,412,000 after acquiring an additional 3,138,685 shares during the period. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD boosted its holdings in Opko Health by 14.8% during the 2nd quarter. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD now owns 135,401 shares of the biotechnology company’s stock valued at $910,000 after acquiring an additional 17,458 shares during the period. State Board of Administration of Florida Retirement System boosted its holdings in Opko Health by 7.5% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 400,278 shares of the biotechnology company’s stock valued at $2,634,000 after acquiring an additional 27,940 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Opko Health by 4.4% during the 1st quarter. Vanguard Group Inc. now owns 26,322,001 shares of the biotechnology company’s stock valued at $210,576,000 after acquiring an additional 1,112,843 shares during the period. 22.66% of the stock is currently owned by institutional investors and hedge funds.
About Opko Health
OPKO Health, Inc is a healthcare company. Its segments include Pharmaceutical, Diagnostics and Corporate. Pharmaceutical consists of the pharmaceutical operations in Chile, Mexico, Ireland, Israel and Spain and its pharmaceutical research and development operations. Diagnostics consists of the clinical laboratory operations in Bio-Reference Laboratories (Bio-Reference) and its point-of-care operations.
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