OPKO Health (NASDAQ:OPK) Sets New 12-Month High After Strong Earnings

OPKO Health, Inc. (NASDAQ:OPK)’s stock price hit a new 52-week high during mid-day trading on Friday after the company announced better than expected quarterly earnings. The company traded as high as $1.84 and last traded at $1.73, with a volume of 1464045 shares trading hands. The stock had previously closed at $1.63.

The biotechnology company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.09. OPKO Health had a negative net margin of 18.65% and a negative return on equity of 9.76%. The company had revenue of $183.60 million for the quarter, compared to analyst estimates of $155.42 million.

Analyst Ratings Changes

A number of equities analysts recently issued reports on OPK shares. Barrington Research restated an “outperform” rating and set a $2.25 price objective on shares of OPKO Health in a report on Friday, November 8th. HC Wainwright reissued a “buy” rating and set a $3.00 target price on shares of OPKO Health in a research note on Wednesday, January 8th. Finally, StockNews.com cut shares of OPKO Health from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th.

Insider Buying and Selling at OPKO Health

In related news, CEO Phillip Md Et Al Frost purchased 125,000 shares of OPKO Health stock in a transaction dated Friday, December 13th. The stock was purchased at an average cost of $1.59 per share, with a total value of $198,750.00. Following the transaction, the chief executive officer now owns 212,536,477 shares in the company, valued at approximately $337,932,998.43. The trade was a 0.06 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders have acquired 1,322,537 shares of company stock valued at $2,009,129. Company insiders own 47.26% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of OPK. Rubric Capital Management LP increased its position in shares of OPKO Health by 9.6% during the third quarter. Rubric Capital Management LP now owns 48,706,640 shares of the biotechnology company’s stock worth $72,573,000 after purchasing an additional 4,284,336 shares in the last quarter. Millennium Management LLC increased its position in OPKO Health by 85.3% during the 4th quarter. Millennium Management LLC now owns 4,588,526 shares of the biotechnology company’s stock valued at $6,745,000 after buying an additional 2,112,382 shares in the last quarter. Lazard Asset Management LLC increased its position in OPKO Health by 143.6% during the 4th quarter. Lazard Asset Management LLC now owns 2,548,667 shares of the biotechnology company’s stock valued at $3,746,000 after buying an additional 1,502,342 shares in the last quarter. Altshuler Shaham Ltd acquired a new stake in OPKO Health in the fourth quarter worth about $2,082,000. Finally, Norges Bank acquired a new stake in OPKO Health in the fourth quarter worth about $1,657,000. Institutional investors own 64.63% of the company’s stock.

OPKO Health Price Performance

The firm has a market cap of $1.16 billion, a PE ratio of -9.03 and a beta of 1.63. The company has a quick ratio of 2.69, a current ratio of 2.97 and a debt-to-equity ratio of 0.30. The stock has a 50 day moving average price of $1.55 and a two-hundred day moving average price of $1.55.

OPKO Health Company Profile

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.