OPKO Health (NASDAQ:OPK) Sees Unusually-High Trading Volume – Still a Buy?

Shares of OPKO Health, Inc. (NASDAQ:OPK) saw strong trading volume on Monday . 4,977,027 shares were traded during mid-day trading, an increase of 178% from the previous session’s volume of 1,793,125 shares.The stock last traded at $1.46 and had previously closed at $1.48.

Analyst Ratings Changes

A number of brokerages recently commented on OPK. Barrington Research reaffirmed an “outperform” rating and set a $2.25 price target on shares of OPKO Health in a research report on Friday, November 8th. StockNews.com cut shares of OPKO Health from a “hold” rating to a “sell” rating in a report on Thursday, December 26th. Piper Sandler reaffirmed an “overweight” rating and set a $3.00 price objective on shares of OPKO Health in a research note on Tuesday, September 17th. Finally, HC Wainwright restated a “buy” rating and issued a $3.00 price objective on shares of OPKO Health in a research report on Thursday, September 26th.

OPKO Health Stock Down 2.0 %

The stock has a market capitalization of $989.60 million, a P/E ratio of -7.63 and a beta of 1.63. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.97 and a quick ratio of 2.69. The stock has a 50 day moving average price of $1.55 and a 200-day moving average price of $1.49.

Insider Activity

In related news, CEO Phillip Md Et Al Frost purchased 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was bought at an average cost of $1.62 per share, with a total value of $162,000.00. Following the completion of the purchase, the chief executive officer now directly owns 211,612,405 shares in the company, valued at approximately $342,812,096.10. This represents a 0.05 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders bought 1,304,255 shares of company stock valued at $2,024,605. Insiders own 47.26% of the company’s stock.

Hedge Funds Weigh In On OPKO Health

A number of institutional investors have recently added to or reduced their stakes in OPK. CIBC Asset Management Inc lifted its holdings in shares of OPKO Health by 79.1% during the second quarter. CIBC Asset Management Inc now owns 20,322 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 8,978 shares during the last quarter. PFG Investments LLC raised its stake in OPKO Health by 2.5% during the second quarter. PFG Investments LLC now owns 960,965 shares of the biotechnology company’s stock valued at $1,201,000 after buying an additional 23,700 shares during the last quarter. American Century Companies Inc. bought a new stake in OPKO Health in the second quarter worth $112,000. Y.D. More Investments Ltd purchased a new stake in shares of OPKO Health in the second quarter worth $1,840,000. Finally, Hollencrest Capital Management increased its holdings in shares of OPKO Health by 14.0% during the second quarter. Hollencrest Capital Management now owns 90,000 shares of the biotechnology company’s stock valued at $112,000 after acquiring an additional 11,020 shares in the last quarter. Institutional investors own 64.63% of the company’s stock.

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.