Opko Health, Inc. (OPK) Posts Quarterly Earnings Results, Misses Estimates By $0.03 EPS
Opko Health, Inc. (NASDAQ:OPK) posted its quarterly earnings data on Wednesday. The biotechnology company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.03), Bloomberg Earnings reports. The company had revenue of $263.50 million during the quarter, compared to the consensus estimate of $319.43 million. Opko Health had a negative net margin of 9.45% and a negative return on equity of 5.18%. The company’s revenue was down 11.6% on a year-over-year basis. During the same quarter last year, the business earned ($0.03) earnings per share.
Shares of Opko Health (NASDAQ:OPK) opened at $5.50 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.50 and a debt-to-equity ratio of 0.01. Opko Health has a 12-month low of $5.35 and a 12-month high of $12.15.
In related news, CEO Phillip Md Et Al Frost bought 10,000 shares of the business’s stock in a transaction on Monday, August 14th. The stock was bought at an average price of $6.15 per share, for a total transaction of $61,500.00. Following the transaction, the chief executive officer now directly owns 3,068,951 shares in the company, valued at $18,874,048.65. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Opko Health, Inc. bought 655,738 shares of the business’s stock in a transaction on Monday, October 30th. The stock was bought at an average price of $3.05 per share, with a total value of $2,000,000.90. Following the transaction, the insider now owns 6,678,752 shares in the company, valued at $20,370,193.60. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 1,251,038 shares of company stock valued at $5,581,640. 40.19% of the stock is owned by insiders.
An institutional investor recently raised its position in Opko Health stock. The Manufacturers Life Insurance Company lifted its holdings in shares of Opko Health, Inc. (NASDAQ:OPK) by 7.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,535 shares of the biotechnology company’s stock after purchasing an additional 1,657 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Opko Health were worth $149,000 as of its most recent SEC filing. 22.57% of the stock is owned by institutional investors.
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A number of analysts recently weighed in on OPK shares. BidaskClub cut shares of Opko Health from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Cantor Fitzgerald started coverage on shares of Opko Health in a report on Thursday, August 17th. They set an “overweight” rating and a $20.00 target price for the company. Jefferies Group LLC restated a “hold” rating and set a $6.50 target price (down from $6.80) on shares of Opko Health in a report on Thursday, August 10th. Ladenburg Thalmann Financial Services restated a “buy” rating and set a $16.00 target price on shares of Opko Health in a report on Monday, September 25th. Finally, Barrington Research raised their target price on shares of Opko Health to $11.00 and gave the stock an “outperform” rating in a report on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. Opko Health currently has an average rating of “Buy” and a consensus target price of $13.97.
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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