Opko Health Inc. (NASDAQ:OPK) – Investment analysts at Barrington Research reduced their FY2023 earnings per share (EPS) estimates for shares of Opko Health in a report released on Wednesday, November 6th. Barrington Research analyst M. Petusky now forecasts that the biotechnology company will post earnings of $0.11 per share for the year, down from their prior forecast of $0.14. Barrington Research has a “Buy” rating and a $4.00 price objective on the stock.
Several other equities research analysts have also recently weighed in on the company. ValuEngine upgraded Opko Health from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Zacks Investment Research upgraded Opko Health from a “hold” rating to a “buy” rating and set a $2.00 target price for the company in a report on Friday, October 18th. Finally, BidaskClub cut Opko Health from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th.
Shares of OPK stock traded down $0.04 during mid-day trading on Friday, hitting $1.47. The stock had a trading volume of 7,800,700 shares, compared to its average volume of 4,798,398. Opko Health has a 12-month low of $1.33 and a 12-month high of $3.93. The firm has a market capitalization of $960.34 million, a P/E ratio of -5.88 and a beta of 2.17. The firm’s 50-day moving average is $1.89 and its two-hundred day moving average is $2.01. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.21 and a quick ratio of 1.04.
Opko Health (NASDAQ:OPK) last issued its earnings results on Tuesday, November 5th. The biotechnology company reported ($0.11) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.02). Opko Health had a negative return on equity of 14.19% and a negative net margin of 30.98%. The firm had revenue of $228.80 million during the quarter, compared to analysts’ expectations of $225.40 million. During the same quarter in the prior year, the company posted ($0.05) earnings per share. Opko Health’s quarterly revenue was down 8.4% compared to the same quarter last year.
In related news, Director Richard C. Pfenniger, Jr. purchased 25,000 shares of Opko Health stock in a transaction dated Friday, October 25th. The stock was purchased at an average cost of $1.45 per share, with a total value of $36,250.00. Following the transaction, the director now owns 275,000 shares in the company, valued at approximately $398,750. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Phillip Md Et Al Frost purchased 2,000,000 shares of Opko Health stock in a transaction dated Friday, October 25th. The stock was bought at an average cost of $1.50 per share, with a total value of $3,000,000.00. Following the completion of the transaction, the chief executive officer now owns 3,068,951 shares in the company, valued at approximately $4,603,426.50. The disclosure for this purchase can be found here. Insiders acquired a total of 3,040,000 shares of company stock valued at $4,545,750 over the last quarter. Company insiders own 42.25% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cito Capital Group LLC increased its position in Opko Health by 5.1% during the 2nd quarter. Cito Capital Group LLC now owns 184,000 shares of the biotechnology company’s stock valued at $449,000 after buying an additional 9,000 shares in the last quarter. Commonwealth Equity Services LLC increased its position in Opko Health by 2.4% during the 3rd quarter. Commonwealth Equity Services LLC now owns 420,879 shares of the biotechnology company’s stock valued at $879,000 after buying an additional 9,900 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. increased its position in Opko Health by 100.0% during the 2nd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 20,000 shares of the biotechnology company’s stock valued at $49,000 after buying an additional 10,000 shares in the last quarter. Alpha Cubed Investments LLC acquired a new position in Opko Health during the 3rd quarter valued at about $25,000. Finally, Aperio Group LLC increased its position in Opko Health by 21.0% during the 2nd quarter. Aperio Group LLC now owns 72,789 shares of the biotechnology company’s stock valued at $177,000 after buying an additional 12,631 shares in the last quarter. 24.54% of the stock is owned by hedge funds and other institutional investors.
Opko Health Company Profile
OPKO Health, Inc, a healthcare company, engages in the diagnostics and pharmaceuticals business in the United States, Ireland, Chile, Spain, Israel, Mexico, and internationally. The company's Diagnostics segment operates BioReference Laboratories, a clinical laboratory that offers laboratory testing services.
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