Opko Health Inc. (OPK) Rating Lowered to Sell at Zacks Investment Research
Opko Health Inc. (NYSE:OPK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.
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 brokerages also recently weighed in on OPK. Jefferies Group reiterated a “hold” rating on shares of Opko Health in a report on Wednesday, August 17th. Standpoint Research increased their price target on Opko Health from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, June 21st. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Opko Health in a report on Monday, October 10th. Finally, JPMorgan Chase & Co. set a $14.00 price target on Opko Health and gave the stock a “buy” rating in a report on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $13.20.
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Opko Health (NYSE:OPK) opened at 9.40 on Wednesday. The stock has a market cap of $5.17 billion and a PE ratio of 39.33. Opko Health has a 1-year low of $7.12 and a 1-year high of $11.85. The stock has a 50 day moving average price of $10.09 and a 200 day moving average price of $10.05.
Opko Health (NYSE:OPK) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.05. The business earned $357.10 million during the quarter, compared to analysts’ expectations of $324.11 million. During the same quarter in the previous year, the company posted ($0.09) earnings per share. The company’s quarterly revenue was up 742.2% compared to the same quarter last year. On average, analysts predict that Opko Health will post ($0.05) EPS for the current fiscal year.
In other Opko Health news, CEO Phillip Md Et Al Frost bought 10,000 shares of the business’s stock in a transaction dated Wednesday, July 27th. The shares were acquired at an average price of $9.91 per share, with a total value of $99,100.00. Following the purchase, the chief executive officer now owns 3,068,951 shares in the company, valued at approximately $30,413,304.41. The purchase was disclosed in a document filed with the SEC, which is available through this link.
A number of large investors have recently added to or reduced their stakes in OPK. Bridger Management LLC purchased a new stake in Opko Health during the first quarter valued at about $13,863,000. First Trust Advisors LP increased its stake in Opko Health by 164.8% in the second quarter. First Trust Advisors LP now owns 1,526,964 shares of the company’s stock valued at $14,262,000 after buying an additional 950,355 shares during the period. Harel Insurance Investments & Financial Services Ltd. increased its stake in Opko Health by 90.7% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,897,107 shares of the company’s stock valued at $17,687,000 after buying an additional 902,185 shares during the period. State Street Corp increased its stake in Opko Health by 11.6% in the second quarter. State Street Corp now owns 7,454,724 shares of the company’s stock valued at $69,627,000 after buying an additional 773,867 shares during the period. Finally, BlackRock Advisors LLC increased its stake in Opko Health by 305.8% in the second quarter. BlackRock Advisors LLC now owns 817,637 shares of the company’s stock valued at $7,637,000 after buying an additional 616,140 shares during the period.
About Opko Health
OPKO Health, Inc (OPKO) is a healthcare company. The Company operates through two segments: diagnostics and pharmaceutical. The pharmaceutical segment consists of its pharmaceutical operations in Chile, Mexico, Ireland, Israel and Spain, and its pharmaceutical research and development operations. The diagnostics segment primarily consists of its clinical laboratory operations.
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