Essex Investment Management Co. LLC Reduces Position in Opko Health, Inc. (OPK)
Essex Investment Management Co. LLC lessened its position in shares of Opko Health, Inc. (NASDAQ:OPK) by 5.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 253,484 shares of the biotechnology company’s stock after selling 13,465 shares during the quarter. Essex Investment Management Co. LLC’s holdings in Opko Health were worth $1,739,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in OPK. UBS Asset Management Americas Inc. grew its stake in Opko Health by 21.1% during the 1st quarter. UBS Asset Management Americas Inc. now owns 207,127 shares of the biotechnology company’s stock worth $1,657,000 after buying an additional 36,153 shares during the last quarter. Teachers Advisors LLC grew its stake in Opko Health by 3.0% during the 1st quarter. Teachers Advisors LLC now owns 405,251 shares of the biotechnology company’s stock worth $3,242,000 after buying an additional 11,782 shares during the last quarter. Legal & General Group Plc grew its stake in Opko Health by 217.4% during the 1st quarter. Legal & General Group Plc now owns 111,673 shares of the biotechnology company’s stock worth $893,000 after buying an additional 76,487 shares during the last quarter. Vanguard Group Inc. grew its stake in Opko Health by 4.4% during the 1st quarter. Vanguard Group Inc. now owns 26,322,001 shares of the biotechnology company’s stock worth $210,576,000 after buying an additional 1,112,843 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Opko Health by 7.9% during the 1st quarter. Geode Capital Management LLC now owns 2,889,059 shares of the biotechnology company’s stock worth $23,111,000 after buying an additional 210,736 shares during the last quarter. Hedge funds and other institutional investors own 22.46% of the company’s stock.
Shares of Opko Health, Inc. (OPK) opened at $6.57 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.50 and a current ratio of 1.67. Opko Health, Inc. has a 1-year low of $5.85 and a 1-year high of $12.15.
Opko Health (NASDAQ:OPK) last posted its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.01. The business had revenue of $314.20 million during the quarter, compared to analysts’ expectations of $322.64 million. Opko Health had a negative return on equity of 3.67% and a negative net margin of 6.52%. The company’s quarterly revenue was down 12.0% compared to the same quarter last year. During the same period last year, the firm earned $0.02 EPS. analysts anticipate that Opko Health, Inc. will post -0.19 EPS for the current fiscal year.
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Several brokerages have weighed in on OPK. Zacks Investment Research upgraded Opko Health from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Barrington Research lifted their target price on Opko Health to $11.00 and gave the company an “outperform” rating in a research note on Tuesday, July 18th. BidaskClub upgraded Opko Health from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Jefferies Group LLC reiterated a “hold” rating and issued a $8.00 target price on shares of Opko Health in a research note on Thursday, July 27th. Finally, Cantor Fitzgerald began coverage on Opko Health in a research note on Thursday, August 17th. They issued an “overweight” rating and a $20.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $13.97.
In other Opko Health news, CEO Phillip Md Et Al Frost purchased 18,000 shares of Opko Health stock in a transaction dated Wednesday, August 9th. The stock was acquired at an average cost of $6.35 per share, with a total value of $114,300.00. Following the acquisition, the chief executive officer now directly owns 3,068,951 shares of the company’s stock, valued at $19,487,838.85. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Opko Health, Inc. purchased 655,738 shares of Opko Health stock in a transaction dated Monday, October 30th. The stock was acquired at an average cost of $3.05 per share, with a total value of $2,000,000.90. Following the completion of the acquisition, the insider now directly owns 6,678,752 shares in the company, valued at $20,370,193.60. The disclosure for this purchase can be found here. Insiders bought a total of 1,323,038 shares of company stock valued at $6,031,060 over the last three months. Insiders own 40.19% of the company’s stock.
Opko Health Company Profile
OPKO Health, Inc is a healthcare company. Its segments include Pharmaceutical, Diagnostics and Corporate. Pharmaceutical consists of the pharmaceutical operations in Chile, Mexico, Ireland, Israel and Spain and its pharmaceutical research and development operations. Diagnostics consists of the clinical laboratory operations in Bio-Reference Laboratories (Bio-Reference) and its point-of-care operations.
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