OP Asset Management Ltd Makes New $1.26 Million Investment in OPKO Health, Inc. $OPK

OP Asset Management Ltd purchased a new position in shares of OPKO Health, Inc. (NASDAQ:OPK) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,102,254 shares of the biotechnology company’s stock, valued at approximately $1,257,000. OP Asset Management Ltd owned about 0.15% of OPKO Health as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Cubist Systematic Strategies LLC lifted its stake in shares of OPKO Health by 2,369.9% in the 1st quarter. Cubist Systematic Strategies LLC now owns 119,223 shares of the biotechnology company’s stock valued at $198,000 after purchasing an additional 114,396 shares during the last quarter. AQR Capital Management LLC increased its position in 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 worth $2,671,000 after buying an additional 1,324,988 shares during the last quarter. Millennium Management LLC increased its position in OPKO Health by 39.2% during the first quarter. Millennium Management LLC now owns 6,386,911 shares of the biotechnology company’s stock worth $10,602,000 after buying an additional 1,798,385 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in OPKO Health by 4.2% during the first 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 in the last quarter. Finally, Caxton Associates LLP bought a new position in OPKO Health during the first quarter valued at about $130,000. Institutional investors own 64.63% of the company’s stock.

OPKO Health Stock Down 1.3%

OPKO Health stock opened at $1.51 on Tuesday. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -5.59 and a beta of 1.49. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.61 and a quick ratio of 3.17. OPKO Health, Inc. has a fifty-two week low of $0.98 and a fifty-two week high of $1.61. The firm has a fifty day moving average price of $1.30 and a two-hundred day moving average price of $1.26.

OPKO Health (NASDAQ:OPK) last issued its quarterly earnings results on Tuesday, April 28th. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.07). The company had revenue of $124.20 million for the quarter, compared to the consensus estimate of $130.51 million. OPKO Health had a negative return on equity of 16.78% and a negative net margin of 36.63%.The firm’s revenue was down 17.1% compared to the same quarter last year. During the same period last year, the business posted ($0.10) earnings per share. As a group, analysts forecast that OPKO Health, Inc. will post -0.29 earnings per share for the current year.

Wall Street Analyst Weigh In

OPK has been the subject of several recent analyst reports. Barrington Research downgraded OPKO Health from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 29th. Weiss Ratings upgraded OPKO Health from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, May 18th. Finally, Wall Street Zen raised OPKO Health from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $1.55.

About OPKO Health

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.