Short Interest in Opko Health, Inc. (NASDAQ:OPK) Drops By 2.2%
Opko Health, Inc. (NASDAQ:OPK) was the recipient of a significant drop in short interest during the month of July. As of July 14th, there was short interest totalling 74,103,155 shares, a drop of 2.2% from the June 30th total of 75,782,096 shares. Based on an average daily volume of 4,125,417 shares, the days-to-cover ratio is currently 18.0 days. Approximately 22.2% of the shares of the stock are sold short.
Opko Health (OPK) opened at 6.32 on Friday. The stock’s 50 day moving average price is $6.48 and its 200 day moving average price is $7.49. The stock’s market capitalization is $3.54 billion. Opko Health has a 52-week low of $5.99 and a 52-week high of $12.15.
Opko Health (NASDAQ:OPK) last announced its quarterly earnings results on Tuesday, May 9th. The biotechnology company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by $0.02. Opko Health had a negative return on equity of 2.13% and a negative net margin of 3.60%. The business had revenue of $296.10 million for the quarter, compared to analysts’ expectations of $313.36 million. During the same period last year, the company posted ($0.02) earnings per share. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. On average, analysts forecast that Opko Health will post ($0.20) EPS for the current year.
In related news, Director Richard A. Lerner purchased 10,000 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The stock was purchased at an average price of $6.31 per share, with a total value of $63,100.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Phillip Md Et Al Frost purchased 4,700 shares of the business’s stock in a transaction that occurred on Monday, May 1st. The stock was bought at an average cost of $7.68 per share, with a total value of $36,096.00. Following the acquisition, the chief executive officer now owns 3,068,951 shares of the company’s stock, valued at approximately $23,569,543.68. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 2,778,200 shares of company stock valued at $18,571,307. Insiders own 40.19% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Opko Health by 4.4% in the first quarter. Vanguard Group Inc. now owns 26,322,001 shares of the biotechnology company’s stock worth $210,576,000 after buying an additional 1,112,843 shares during the last quarter. BlackRock Inc. boosted its position in Opko Health by 11,481.3% in the first quarter. BlackRock Inc. now owns 22,645,285 shares of the biotechnology company’s stock worth $181,163,000 after buying an additional 22,449,752 shares during the last quarter. State Street Corp boosted its position in Opko Health by 40.3% in the first quarter. State Street Corp now owns 10,926,560 shares of the biotechnology company’s stock worth $87,412,000 after buying an additional 3,138,685 shares during the last quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management boosted its position in Opko Health by 62.4% in the first quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management now owns 5,061,154 shares of the biotechnology company’s stock worth $40,489,000 after buying an additional 1,944,549 shares during the last quarter. Finally, Norges Bank purchased a new position in Opko Health during the fourth quarter worth $30,421,000. 23.64% of the stock is owned by institutional investors.
OPK has been the subject of several analyst reports. Zacks Investment Research lowered Opko Health from a “hold” rating to a “sell” rating in a research report on Thursday, May 4th. Ladenburg Thalmann Financial Services restated a “buy” rating and set a $19.50 price target on shares of Opko Health in a research report on Tuesday, June 6th. Jefferies Group LLC restated a “hold” rating and set a $8.00 price target on shares of Opko Health in a research report on Monday, June 12th. BidaskClub upgraded Opko Health from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 22nd. Finally, Barrington Research raised their price target on Opko Health to $11.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 18th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $14.72.
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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