$325.34 Million in Sales Expected for Opko Health, Inc. (NASDAQ:OPK) This Quarter
Equities analysts expect Opko Health, Inc. (NASDAQ:OPK) to announce sales of $325.34 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Opko Health’s earnings. The lowest sales estimate is $319.10 million and the highest is $336.10 million. Opko Health posted sales of $357.10 million in the same quarter last year, which would indicate a negative year over year growth rate of 8.9%. The company is expected to issue its next quarterly earnings report on Monday, August 14th.
On average, analysts expect that Opko Health will report full-year sales of $325.34 million for the current financial year, with estimates ranging from $1.24 billion to $1.29 billion. For the next year, analysts expect that the company will post sales of $1.43 billion per share, with estimates ranging from $1.39 billion to $1.48 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Opko Health.
Opko Health (NASDAQ:OPK) last announced its quarterly earnings results on Tuesday, May 9th. The biotechnology company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by $0.02. Opko Health had a negative net margin of 3.60% and a negative return on equity of 2.13%. The company had revenue of $296.10 million for the quarter, compared to analyst estimates of $313.36 million. During the same quarter last year, the business earned ($0.02) EPS. The company’s revenue for the quarter was up 1.8% on a year-over-year basis.
A number of research analysts recently weighed in on OPK shares. Guggenheim started coverage on Opko Health in a report on Tuesday, March 14th. They set a “buy” rating and a $25.00 target price on the stock. Ladenburg Thalmann Financial Services reissued a “buy” rating and set a $19.50 target price on shares of Opko Health in a report on Tuesday, June 6th. Jefferies Group LLC reissued a “hold” rating and set a $8.00 target price on shares of Opko Health in a report on Monday, June 12th. BidaskClub raised Opko Health from a “strong sell” rating to a “sell” rating in a report on Thursday, June 22nd. Finally, Zacks Investment Research lowered Opko Health from a “hold” rating to a “sell” rating in a report on Thursday, May 4th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. Opko Health has an average rating of “Hold” and a consensus price target of $16.58.
In related news, CEO Phillip Md Et Al Frost bought 18,000 shares of Opko Health stock in a transaction dated Tuesday, April 11th. The shares were bought at an average cost of $7.49 per share, with a total value of $134,820.00. Following the acquisition, the chief executive officer now owns 3,068,951 shares in the company, valued at approximately $22,986,442.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Jane Ph D. Hsiao bought 40,000 shares of Opko Health stock in a transaction dated Wednesday, May 10th. The shares were bought at an average cost of $6.97 per share, for a total transaction of $278,800.00. Following the completion of the acquisition, the insider now owns 24,723,133 shares in the company, valued at approximately $172,320,237.01. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 2,777,500 shares of company stock worth $18,803,122. Insiders own 40.19% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new stake in shares of Opko Health during the fourth quarter valued at $648,000. Comerica Bank acquired a new stake in shares of Opko Health during the fourth quarter valued at $117,000. State Street Corp increased its stake in shares of Opko Health by 3.0% in the fourth quarter. State Street Corp now owns 7,787,875 shares of the biotechnology company’s stock valued at $72,427,000 after buying an additional 226,132 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Opko Health by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,589,903 shares of the biotechnology company’s stock valued at $14,811,000 after buying an additional 30,851 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of Opko Health by 23.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 15,355 shares of the biotechnology company’s stock valued at $142,000 after buying an additional 2,927 shares in the last quarter. 23.65% of the stock is currently owned by institutional investors.
Shares of Opko Health (NASDAQ:OPK) traded up 0.63% during trading on Friday, reaching $6.35. The company’s stock had a trading volume of 1,352,656 shares. Opko Health has a 52 week low of $5.99 and a 52 week high of $12.15. The stock’s 50 day moving average price is $6.59 and its 200 day moving average price is $8.10. The company’s market cap is $3.55 billion. Opko Health also was the target of unusually large options trading on Tuesday. Traders acquired 1,610 put options on the company. This is an increase of 131% compared to the average volume of 698 put options.
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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