Opko Health Inc. (OPK) Expected to Post Quarterly Sales of $262.52 Million
Equities research analysts forecast that Opko Health Inc. (NASDAQ:OPK) will post sales of $262.52 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Opko Health’s earnings. The lowest sales estimate is $259.67 million and the highest is $268.10 million. Opko Health posted sales of $263.50 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 0.4%. The company is expected to issue its next quarterly earnings results on Wednesday, November 14th.
On average, analysts expect that Opko Health will report full-year sales of $1.04 billion for the current year, with estimates ranging from $1.03 billion to $1.05 billion. For the next fiscal year, analysts anticipate that the business will report sales of $1.07 billion, with estimates ranging from $1.03 billion to $1.09 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that that provide coverage for Opko Health.
Opko Health (NASDAQ:OPK) last issued its quarterly earnings data on Tuesday, August 7th. The biotechnology company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.06. Opko Health had a negative return on equity of 9.32% and a negative net margin of 31.73%. The business had revenue of $263.69 million for the quarter, compared to the consensus estimate of $260.37 million.
In other Opko Health news, CEO Phillip Md Et Al Frost purchased 10,000 shares of Opko Health stock in a transaction dated Tuesday, July 3rd. The shares were purchased at an average cost of $4.75 per share, for a total transaction of $47,500.00. Following the completion of the acquisition, the chief executive officer now owns 3,068,951 shares in the company, valued at approximately $14,577,517.25. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders bought 280,220 shares of company stock worth $1,514,311. Company insiders own 42.74% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of OPK. BlackRock Inc. raised its holdings in shares of Opko Health by 38.7% in the second quarter. BlackRock Inc. now owns 29,531,554 shares of the biotechnology company’s stock worth $138,798,000 after buying an additional 8,237,434 shares during the period. Northern Trust Corp raised its holdings in shares of Opko Health by 129.9% in the second quarter. Northern Trust Corp now owns 4,025,496 shares of the biotechnology company’s stock worth $18,920,000 after buying an additional 2,274,820 shares during the period. Millennium Management LLC raised its holdings in shares of Opko Health by 95.6% in the first quarter. Millennium Management LLC now owns 2,178,877 shares of the biotechnology company’s stock worth $6,907,000 after buying an additional 1,065,216 shares during the period. RK Asset Management LLC purchased a new stake in shares of Opko Health in the second quarter worth approximately $4,822,000. Finally, Schwab Charles Investment Management Inc. raised its holdings in shares of Opko Health by 49.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,395,831 shares of the biotechnology company’s stock worth $11,261,000 after buying an additional 788,753 shares during the period. Hedge funds and other institutional investors own 24.78% of the company’s stock.
Shares of OPK stock opened at $3.72 on Thursday. Opko Health has a 1 year low of $2.66 and a 1 year high of $7.24. The company has a current ratio of 1.05, a quick ratio of 0.90 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.31 billion, a price-to-earnings ratio of -12.83 and a beta of 2.09.
About Opko Health
OPKO Health, Inc, a healthcare company, engages in the diagnostics and pharmaceuticals business in the United States, Ireland, Chile, Spain, Israel, Mexico, and internationally. The company's Diagnostics segment operates Bio-Reference Laboratories, a clinical laboratory that offers laboratory testing services in the detection, diagnosis, evaluation, monitoring, and treatment of diseases.
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