Zacks Investment Research lowered shares of Opko Health (NASDAQ:OPK) from a hold rating to a sell rating in a research report released on Thursday morning.
According to Zacks, “OPKO Health is a multinational biopharmaceutical and diagnostics company that seeks to establish industry-leading positions in large, rapidly growing markets by leveraging its discovery, development and commercialization expertise and novel and proprietary technologies. “
Several other research firms have also issued reports on OPK. Ladenburg Thalmann Financial Services reaffirmed a buy rating and issued a $16.00 price objective on shares of Opko Health in a research note on Monday, September 25th. BidaskClub raised Opko Health from a sell rating to a hold rating in a research note on Saturday, September 23rd. JPMorgan Chase & Co. lowered Opko Health from an overweight rating to a neutral rating and lowered their price objective for the company from $12.00 to $7.00 in a research note on Thursday, September 14th. Finally, Cantor Fitzgerald set a $20.00 price objective on Opko Health and gave the company a buy rating in a research note on Wednesday, October 25th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. Opko Health presently has an average rating of Hold and an average price target of $13.34.
Opko Health (OPK) traded down $0.08 during trading hours on Thursday, hitting $4.98. The stock had a trading volume of 3,285,100 shares, compared to its average volume of 3,480,000. The company has a market cap of $2,790.00, a price-to-earnings ratio of -26.21 and a beta of 1.82. Opko Health has a 1-year low of $4.50 and a 1-year high of $9.30. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.66 and a quick ratio of 1.48.
Opko Health (NASDAQ:OPK) last posted its quarterly earnings data on Wednesday, November 8th. The biotechnology company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.03). The company had revenue of $263.50 million during the quarter, compared to the consensus estimate of $319.43 million. Opko Health had a negative net margin of 9.45% and a negative return on equity of 5.17%. Opko Health’s revenue for the quarter was down 11.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.03) earnings per share. analysts expect that Opko Health will post -0.27 earnings per share for the current year.
In other Opko Health news, major shareholder Opko Health, Inc. purchased 655,738 shares of Opko Health stock in a transaction dated Monday, October 30th. The shares were purchased at an average cost of $3.05 per share, for a total transaction of $2,000,000.90. Following the completion of the acquisition, the insider now owns 6,678,752 shares in the company, valued at approximately $20,370,193.60. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 40.19% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Engineers Gate Manager LP purchased a new position in Opko Health during the 2nd quarter worth $117,000. Crossmark Global Holdings Inc. purchased a new position in Opko Health during the 3rd quarter worth $118,000. Abbot Financial Management Inc. purchased a new position in Opko Health during the 2nd quarter worth $129,000. The Manufacturers Life Insurance Company increased its holdings in Opko Health by 7.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,535 shares of the biotechnology company’s stock worth $149,000 after purchasing an additional 1,657 shares during the period. Finally, Psagot Investment House Ltd. increased its holdings in Opko Health by 20.0% during the 2nd quarter. Psagot Investment House Ltd. now owns 22,862 shares of the biotechnology company’s stock worth $150,000 after purchasing an additional 3,806 shares during the period. Institutional investors own 22.91% of the company’s stock.
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Opko Health Company Profile
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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