Opko Health Inc. (OPK) Major Shareholder Purchases $2,000,000.90 in Stock
Opko Health Inc. (NASDAQ:OPK) major shareholder Opko Health, Inc. purchased 655,738 shares of the stock in a transaction dated Monday, October 30th. The stock was purchased at an average price of $3.05 per share, with a total value of $2,000,000.90. Following the completion of the acquisition, the insider now directly owns 6,678,752 shares in the company, valued at approximately $20,370,193.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
Opko Health (NASDAQ:OPK) last released its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($0.04) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.01. Opko Health had a negative return on equity of 3.34% and a negative net margin of 3.79%. The firm had revenue of $314.20 million during the quarter, compared to analysts’ expectations of $322.64 million. During the same period last year, the firm posted $0.02 EPS. The business’s revenue was down 12.0% on a year-over-year basis.
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A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Opko Health by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 26,618,758 shares of the biotechnology company’s stock valued at $175,151,000 after purchasing an additional 296,757 shares in the last quarter. BlackRock Inc. increased its holdings in Opko Health by 1.1% during the 2nd quarter. BlackRock Inc. now owns 22,901,261 shares of the biotechnology company’s stock valued at $150,689,000 after purchasing an additional 255,976 shares in the last quarter. State Street Corp increased its holdings in Opko Health by 3.9% during the 2nd quarter. State Street Corp now owns 11,348,763 shares of the biotechnology company’s stock valued at $74,671,000 after purchasing an additional 422,203 shares in the last quarter. Geode Capital Management LLC increased its holdings in Opko Health by 7.9% during the 1st quarter. Geode Capital Management LLC now owns 2,889,059 shares of the biotechnology company’s stock valued at $23,111,000 after purchasing an additional 210,736 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Opko Health by 8.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,762,540 shares of the biotechnology company’s stock valued at $11,598,000 after purchasing an additional 141,412 shares in the last quarter. 22.46% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts recently issued reports on the company. Zacks Investment Research lowered Opko Health from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. Cantor Fitzgerald set a $20.00 price objective on Opko Health and gave the company a “buy” rating in a research report on Thursday, October 12th. Ladenburg Thalmann Financial Services restated a “buy” rating and set a $16.00 price objective on shares of Opko Health in a research report on Monday, September 25th. BidaskClub upgraded Opko Health from a “sell” rating to a “hold” rating in a research report on Saturday, September 23rd. Finally, J P Morgan Chase & Co lowered Opko Health from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $12.00 to $7.00 in a research report on Thursday, September 14th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Opko Health has a consensus rating of “Buy” and a consensus price target of $13.97.
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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