OPKO Health (NASDAQ:OPK) Shares Up 4.1% – Still a Buy?

OPKO Health, Inc. (NASDAQ:OPK) shares shot up 4.1% during mid-day trading on Wednesday . The stock traded as high as $1.53 and last traded at $1.53. 1,334,959 shares were traded during mid-day trading, a decline of 82% from the average session volume of 7,419,561 shares. The stock had previously closed at $1.47.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on OPK. Piper Sandler restated an “overweight” rating and issued a $3.00 price objective on shares of OPKO Health in a report on Tuesday, September 17th. StockNews.com upgraded shares of OPKO Health to a “sell” rating in a research note on Saturday, July 27th. Barrington Research reiterated an “outperform” rating and set a $2.25 price target on shares of OPKO Health in a research note on Friday, September 20th. Finally, HC Wainwright reiterated a “buy” rating and set a $3.00 price target on shares of OPKO Health in a research note on Thursday, September 26th.

OPKO Health Price Performance

The company has a fifty day moving average price of $1.54 and a two-hundred day moving average price of $1.39. The company has a quick ratio of 1.36, a current ratio of 1.63 and a debt-to-equity ratio of 0.13.

OPKO Health (NASDAQ:OPK) last posted its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.08. OPKO Health had a negative return on equity of 17.67% and a negative net margin of 33.79%. The business had revenue of $182.20 million during the quarter, compared to the consensus estimate of $184.70 million. During the same period in the prior year, the company earned ($0.03) earnings per share. The company’s revenue was down 31.3% compared to the same quarter last year. On average, sell-side analysts predict that OPKO Health, Inc. will post -0.29 EPS for the current year.

Insider Transactions at OPKO Health

In other news, major shareholder Opko Health, Inc. sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $32.29, for a total transaction of $807,250.00. Following the completion of the sale, the insider now owns 3,383,403 shares in the company, valued at $109,250,082.87. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 636,444 shares of company stock worth $21,125,127 over the last 90 days. 47.26% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. CIBC Asset Management Inc increased its position in shares of OPKO Health by 79.1% in the second quarter. CIBC Asset Management Inc now owns 20,322 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 8,978 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of OPKO Health in the first quarter valued at $26,000. Moseley Investment Management Inc. purchased a new position in shares of OPKO Health in the first quarter valued at $41,000. Algert Global LLC purchased a new position in shares of OPKO Health in the second quarter valued at $44,000. Finally, Headlands Technologies LLC purchased a new position in shares of OPKO Health in the first quarter valued at $47,000. Hedge funds and other institutional investors own 64.63% of the company’s stock.

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.