OPKO Health (NASDAQ:OPK) Share Price Crosses Below Fifty Day Moving Average – Here’s Why

OPKO Health, Inc. (NASDAQ:OPK) passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $1.32 and traded as low as $1.31. OPKO Health shares last traded at $1.32, with a volume of 964,403 shares changing hands.

Wall Street Analysts Forecast Growth

OPK has been the subject of a number of recent research reports. Jefferies Financial Group reissued a “hold” rating and issued a $1.60 target price (down from $2.00) on shares of OPKO Health in a report on Thursday, October 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of OPKO Health in a research report on Wednesday, October 8th. Wall Street Zen raised OPKO Health from a “sell” rating to a “hold” rating in a report on Sunday, December 21st. JPMorgan Chase & Co. initiated coverage on shares of OPKO Health in a research note on Thursday, November 20th. They issued a “neutral” rating on the stock. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $2.25 target price on shares of OPKO Health in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $2.28.

OPKO Health Price Performance

The stock has a fifty day moving average of $1.32 and a two-hundred day moving average of $1.37. The company has a current ratio of 3.70, a quick ratio of 3.32 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -5.28 and a beta of 1.39.

OPKO Health (NASDAQ:OPK) last announced its earnings results on Wednesday, October 29th. The biotechnology company reported $0.03 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $165.74 million. During the same quarter in the prior year, the business earned $0.03 earnings per share. The business’s revenue for the quarter was down 12.6% on a year-over-year basis. As a group, equities research analysts forecast that OPKO Health, Inc. will post -0.25 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Phillip Md Et Al Frost bought 580,000 shares of the company’s stock in a transaction on Friday, November 21st. The stock was bought at an average cost of $1.33 per share, with a total value of $771,400.00. Following the completion of the purchase, the chief executive officer owned 216,706,448 shares in the company, valued at approximately $288,219,575.84. The trade was a 0.27% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders have bought 1,843,300 shares of company stock worth $2,421,491. 49.69% of the stock is owned by corporate insiders.

Institutional Trading of OPKO Health

Several hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC raised its position in OPKO Health by 23.7% in the 2nd quarter. Geode Capital Management LLC now owns 10,424,473 shares of the biotechnology company’s stock worth $13,763,000 after purchasing an additional 1,995,633 shares during the last quarter. Millennium Management LLC increased its stake in shares of OPKO Health by 39.2% in the 1st quarter. Millennium Management LLC now owns 6,386,911 shares of the biotechnology company’s stock valued at $10,602,000 after buying an additional 1,798,385 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of OPKO Health by 4.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,001,214 shares of the biotechnology company’s stock valued at $6,642,000 after buying an additional 161,394 shares during the period. AWM Investment Company Inc. raised its position in shares of OPKO Health by 8.1% during the second quarter. AWM Investment Company Inc. now owns 2,000,000 shares of the biotechnology company’s stock worth $2,640,000 after acquiring an additional 150,000 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of OPKO Health by 466.7% during the first quarter. AQR Capital Management LLC now owns 1,608,906 shares of the biotechnology company’s stock valued at $2,671,000 after acquiring an additional 1,324,988 shares during the period. 64.63% of the stock is owned by institutional investors.

OPKO Health Company Profile

OPKO Health, Inc (NASDAQ:OPK) is a diversified, global healthcare company headquartered in Miami, Florida, with a focus on diagnostics, pharmaceuticals and biologics development. The company operates two main business segments—Laboratory Services and Pharma Services & Products—driven by its mission to advance patient care through innovation in testing and targeted therapies.

In its Laboratory Services segment, OPKO leverages BioReference Laboratories, one of the largest full-service commercial labs in the United States.