OPKO Health (NASDAQ:OPK) Sets New 52-Week High – Still a Buy?

OPKO Health, Inc. (NASDAQ:OPK) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $1.6051 and last traded at $1.5750, with a volume of 1106308 shares trading hands. The stock had previously closed at $1.51.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Wall Street Zen raised OPKO Health from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Barrington Research cut shares of OPKO Health from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 29th. Finally, Weiss Ratings raised shares of OPKO Health from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $1.55.

OPKO Health Stock Up 2.3%

The company’s 50-day moving average is $1.29 and its 200 day moving average is $1.26. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.17 and a current ratio of 3.61. The company has a market capitalization of $1.17 billion, a PE ratio of -5.73 and a beta of 1.50.

OPKO Health (NASDAQ:OPK) last announced its quarterly earnings data on Tuesday, April 28th. The biotechnology company reported ($0.07) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.07). The company had revenue of $124.20 million during the quarter, compared to analyst estimates of $130.51 million. OPKO Health had a negative net margin of 36.63% and a negative return on equity of 16.78%. The firm’s revenue for the quarter was down 17.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.10) EPS. As a group, analysts anticipate that OPKO Health, Inc. will post -0.29 EPS for the current year.

Hedge Funds Weigh In On OPKO Health

Several hedge funds and other institutional investors have recently modified their holdings of OPK. Bank of America Corp DE lifted its holdings in OPKO Health by 80.0% in the first quarter. Bank of America Corp DE now owns 1,141,849 shares of the biotechnology company’s stock valued at $1,302,000 after acquiring an additional 507,590 shares during the period. Renaissance Technologies LLC purchased a new stake in OPKO Health in the first quarter worth about $125,000. State of Wyoming purchased a new stake in OPKO Health in the first quarter worth about $190,000. First Trust Advisors LP bought a new position in shares of OPKO Health in the first quarter worth about $570,000. Finally, Fifth Third Bancorp purchased a new position in shares of OPKO Health during the 1st quarter valued at about $147,000. 64.63% of the stock is owned by institutional investors.

OPKO Health Company Profile

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.