OPKO Health, Inc. (NASDAQ:OPK) Short Interest Up 24.1% in March

OPKO Health, Inc. (NASDAQ:OPK) was the target of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 111,000,000 shares, a growth of 24.1% from the February 28th total of 89,470,000 shares. Based on an average trading volume of 4,640,000 shares, the days-to-cover ratio is currently 23.9 days. Currently, 36.6% of the shares of the company are sold short.

OPKO Health Stock Performance

Shares of OPK remained flat at $1.66 during mid-day trading on Tuesday. The stock had a trading volume of 2,570,780 shares, compared to its average volume of 4,070,057. The company has a quick ratio of 2.69, a current ratio of 2.97 and a debt-to-equity ratio of 0.30. The firm’s 50 day simple moving average is $1.69 and its 200-day simple moving average is $1.58. The company has a market cap of $1.11 billion, a PE ratio of -8.74 and a beta of 1.70. OPKO Health has a 52 week low of $1.15 and a 52 week high of $2.04.

OPKO Health (NASDAQ:OPK) last announced its earnings results on Thursday, February 27th. The biotechnology company reported $0.01 earnings per share for the quarter, beating the consensus estimate 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%. Equities research analysts anticipate that OPKO Health will post -0.25 EPS for the current year.

Insider Activity

In other OPKO Health news, CEO Phillip Md Et Al Frost purchased 150,000 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was acquired at an average cost of $1.47 per share, with a total value of $220,500.00. Following the acquisition, the chief executive officer now owns 213,186,477 shares of the company’s stock, valued at approximately $313,384,121.19. This represents a 0.07 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders bought 1,214,971 shares of company stock worth $1,913,692. 49.69% of the stock is currently owned by insiders.

Hedge Funds Weigh In On OPKO Health

Several large investors have recently bought and sold shares of OPK. FMR LLC lifted its stake 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 during the period. Wealth Enhancement Advisory Services LLC lifted its position in OPKO Health by 75.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 28,908 shares of the biotechnology company’s stock worth $42,000 after purchasing an additional 12,417 shares during the period. Orion Portfolio Solutions LLC bought a new position in OPKO Health during the 3rd quarter valued at $45,000. Cibc World Markets Corp acquired a new position in shares of OPKO Health during the 4th quarter valued at $45,000. Finally, Zacks Investment Management bought a new stake in shares of OPKO Health in the 4th quarter worth $49,000. Institutional investors and hedge funds own 64.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on OPK. HC Wainwright reiterated a “buy” rating and set a $3.00 price target on shares of OPKO Health in a research report on Wednesday, March 19th. Barrington Research restated an “outperform” rating and set a $2.25 price objective on shares of OPKO Health in a research note on Wednesday, March 12th. Finally, StockNews.com upgraded OPKO Health from a “sell” rating to a “hold” rating in a research note on Monday, March 3rd.

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.