OPKO Health (NASDAQ:OPK) Downgraded to “Sell” Rating by Wall Street Zen

OPKO Health (NASDAQ:OPK) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. initiated coverage on shares of OPKO Health in a research report on Thursday, November 20th. They issued a “neutral” rating on the stock. Barrington Research reissued an “outperform” rating and issued a $2.25 target price on shares of OPKO Health in a report on Thursday, October 30th. Weiss Ratings restated a “sell (d-)” rating on shares of OPKO Health in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $1.60 price objective (down previously from $2.00) on shares of OPKO Health in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $2.28.

OPKO Health Price Performance

Shares of OPK stock opened at $1.38 on Friday. The stock’s fifty day simple moving average is $1.40 and its 200 day simple moving average is $1.38. OPKO Health has a one year low of $1.11 and a one year high of $2.04. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of -5.52 and a beta of 1.34. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.70 and a quick ratio of 3.32.

OPKO Health (NASDAQ:OPK) last issued its quarterly earnings data on Wednesday, October 29th. The biotechnology company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.05. OPKO Health had a negative return on equity of 13.67% and a negative net margin of 28.10%.The company had revenue of $151.67 million during the quarter, compared to analysts’ expectations of $165.74 million. During the same period last year, the business earned $0.03 earnings per share. The business’s revenue was down 12.6% on a year-over-year basis. On average, analysts expect that OPKO Health will post -0.25 earnings per share for the current fiscal year.

Insider Buying and Selling at OPKO Health

In related news, CEO Phillip Md Et Al Frost acquired 580,000 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The stock was purchased at an average price of $1.33 per share, for a total transaction of $771,400.00. Following the transaction, the chief executive officer directly owned 216,706,448 shares of the company’s stock, valued at approximately $288,219,575.84. This trade represents a 0.27% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have purchased a total of 1,843,300 shares of company stock valued at $2,421,491 over the last three months. Company insiders own 49.69% of the company’s stock.

Institutional Investors Weigh In On OPKO Health

Hedge funds and other institutional investors have recently made changes to their positions in the company. Swiss Life Asset Management Ltd acquired a new position in shares of OPKO Health during the third quarter valued at $30,000. CIBC Bancorp USA Inc. acquired a new stake in OPKO Health in the third quarter worth about $68,000. Verition Fund Management LLC raised its holdings in OPKO Health by 57.0% during the 3rd quarter. Verition Fund Management LLC now owns 79,534 shares of the biotechnology company’s stock worth $123,000 after purchasing an additional 28,884 shares during the last quarter. SIH Partners LLLP lifted its position in OPKO Health by 116.3% during the 3rd quarter. SIH Partners LLLP now owns 150,125 shares of the biotechnology company’s stock valued at $233,000 after purchasing an additional 80,706 shares during the period. Finally, Mercer Global Advisors Inc. ADV boosted its stake in shares of OPKO Health by 97.0% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 77,886 shares of the biotechnology company’s stock valued at $121,000 after purchasing an additional 38,352 shares during the last quarter. 64.63% of the stock is owned by institutional investors and hedge funds.

About OPKO Health

OPKO Health, Inc, a healthcare company, engages in the diagnostics and pharmaceuticals businesses in the United States, Ireland, Chile, Spain, Israel, Mexico, and internationally. The company's Diagnostics segment operates BioReference Laboratories that offers laboratory testing services for the detection, diagnosis, evaluation, monitoring, and treatment of diseases, including esoteric testing, molecular diagnostics, anatomical pathology, genetics, women's health, and correctional healthcare to physician offices, clinics, hospitals, employers, and governmental units; and 4Kscore prostate cancer test.