Opko Health, Inc. (OPK) Expected to Post Quarterly Sales of $320.86 Million
Wall Street brokerages expect Opko Health, Inc. (NASDAQ:OPK) to report sales of $320.86 million for the current quarter, Zacks reports. Three analysts have provided estimates for Opko Health’s earnings, with estimates ranging from $310.60 million to $331.70 million. Opko Health posted sales of $298.00 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 7.7%. The firm is scheduled to issue its next quarterly earnings results on Monday, November 6th.
On average, analysts expect that Opko Health will report full-year sales of $320.86 million for the current year, with estimates ranging from $1.23 billion to $1.27 billion. For the next financial year, analysts expect that the company will post sales of $1.37 billion per share, with estimates ranging from $1.27 billion to $1.46 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Opko Health.
Opko Health (NASDAQ:OPK) last posted its earnings results on Tuesday, August 8th. The biotechnology company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.01. The firm had revenue of $314.20 million for the quarter, compared to the consensus estimate of $322.64 million. Opko Health had a negative return on equity of 3.67% and a negative net margin of 6.52%. The business’s quarterly revenue was down 12.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.02 earnings per share.
OPK has been the subject of a number of recent research reports. BidaskClub downgraded shares of Opko Health from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Ladenburg Thalmann Financial Services reissued a “buy” rating and set a $19.50 price objective on shares of Opko Health in a research report on Friday, June 16th. Cantor Fitzgerald initiated coverage on shares of Opko Health in a research report on Thursday, August 17th. They set an “overweight” rating and a $20.00 price objective for the company. Jefferies Group LLC reissued a “hold” rating and set a $6.50 price objective (down previously from $6.80) on shares of Opko Health in a research report on Thursday, August 10th. Finally, Zacks Investment Research raised shares of Opko Health from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $13.97.
Shares of Opko Health (NASDAQ:OPK) opened at 6.88 on Friday. The stock’s market cap is $3.85 billion. Opko Health has a 52-week low of $5.85 and a 52-week high of $12.15. The firm’s 50 day moving average price is $6.53 and its 200 day moving average price is $6.73.
In other news, CEO Phillip Md Et Al Frost bought 5,400 shares of the stock in a transaction that occurred on Thursday, July 20th. The shares were bought at an average price of $6.46 per share, for a total transaction of $34,884.00. Following the purchase, the chief executive officer now owns 3,068,951 shares in the company, valued at $19,825,423.46. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have purchased 925,800 shares of company stock worth $5,667,905. 40.19% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the business. Public Employees Retirement Association of Colorado increased its holdings in shares of Opko Health by 0.3% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 73,417 shares of the biotechnology company’s stock worth $483,000 after buying an additional 216 shares during the last quarter. Pinnacle Associates Ltd. increased its holdings in shares of Opko Health by 0.8% in the 2nd quarter. Pinnacle Associates Ltd. now owns 50,000 shares of the biotechnology company’s stock worth $329,000 after buying an additional 397 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Opko Health by 1.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 53,788 shares of the biotechnology company’s stock worth $354,000 after buying an additional 896 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Opko Health by 6.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 16,356 shares of the biotechnology company’s stock worth $132,000 after buying an additional 1,001 shares during the last quarter. Finally, Prudential Financial Inc. increased its holdings in shares of Opko Health by 6.1% in the 2nd quarter. Prudential Financial Inc. now owns 24,511 shares of the biotechnology company’s stock worth $161,000 after buying an additional 1,400 shares during the last quarter. Institutional investors and hedge funds own 22.46% 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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