OPKO Health (NASDAQ:OPK) Hits New 1-Year High on Better-Than-Expected Earnings

OPKO Health, Inc. (NASDAQ:OPK)’s stock price hit a new 52-week high on Friday following a better than expected earnings announcement. The stock traded as high as $1.84 and last traded at $1.73, with a volume of 1464045 shares traded. The stock had previously closed at $1.63.

The biotechnology company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.09. The firm had revenue of $183.60 million for the quarter, compared to the consensus estimate of $155.42 million. OPKO Health had a negative return on equity of 9.76% and a negative net margin of 18.65%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. HC Wainwright reaffirmed a “buy” rating and issued a $3.00 target price on shares of OPKO Health in a report on Wednesday, January 8th. StockNews.com downgraded OPKO Health from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. Finally, Barrington Research reissued an “outperform” rating and set a $2.25 price objective on shares of OPKO Health in a report on Friday.

Insider Activity at OPKO Health

In related news, CEO Phillip Md Et Al Frost bought 500,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was acquired at an average cost of $1.56 per share, with a total value of $780,000.00. Following the transaction, the chief executive officer now directly owns 212,411,477 shares in the company, valued at approximately $331,361,904.12. This trade represents a 0.24 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have bought a total of 1,389,971 shares of company stock valued at $2,124,442 in the last 90 days. 47.26% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. FMR LLC raised its position in shares of OPKO Health by 103.6% in the 3rd quarter. FMR LLC now owns 21,795 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 11,089 shares in the last quarter. Orion Portfolio Solutions LLC bought a new position in shares of OPKO Health in the 3rd quarter worth about $45,000. Cibc World Markets Corp bought a new position in shares of OPKO Health in the 4th quarter worth about $45,000. Zacks Investment Management bought a new position in shares of OPKO Health in the 4th quarter worth about $49,000. Finally, Ieq Capital LLC bought a new position in shares of OPKO Health in the 4th quarter worth about $52,000. 64.63% of the stock is owned by institutional investors.

OPKO Health Stock Performance

The company has a 50-day moving average price of $1.55 and a two-hundred day moving average price of $1.55. The company has a current ratio of 2.97, a quick ratio of 2.69 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $1.19 billion, a P/E ratio of -9.16 and a beta of 1.63.

OPKO Health Company Profile

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.