Opko Health (OPK) Upgraded by Zacks Investment Research to “Hold”
Zacks Investment Research upgraded shares of Opko Health (NASDAQ:OPK) from a sell rating to a hold rating in a research note released on Tuesday morning.
According to Zacks, “OPKO Health is a multinational biopharmaceutical and diagnostics company that seeks to establish industry-leading positions in large, rapidly growing markets by leveraging its discovery, development and commercialization expertise and novel and proprietary technologies. “
A number of other brokerages also recently weighed in on OPK. Cantor Fitzgerald set a $20.00 price objective on Opko Health and gave the company a buy rating in a research note on Thursday, October 12th. Ladenburg Thalmann Financial Services reissued a buy rating and issued a $16.00 price objective on shares of Opko Health in a research note on Monday, September 25th. BidaskClub raised Opko Health from a sell rating to a hold rating in a research note on Saturday, September 23rd. Finally, J P Morgan Chase & Co downgraded Opko Health from an overweight rating to a neutral rating and cut their price objective for the company from $12.00 to $7.00 in a research note on Thursday, September 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. Opko Health currently has a consensus rating of Buy and an average target price of $13.97.
Shares of Opko Health (NASDAQ OPK) opened at $4.98 on Tuesday. Opko Health has a one year low of $4.50 and a one year high of $12.15. The company has a current ratio of 1.66, a quick ratio of 1.48 and a debt-to-equity ratio of 0.01.
Opko Health (NASDAQ:OPK) last issued its quarterly earnings data on Wednesday, November 8th. The biotechnology company reported ($0.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.03). Opko Health had a negative net margin of 9.45% and a negative return on equity of 5.17%. The company had revenue of $263.50 million during the quarter, compared to the consensus estimate of $319.43 million. During the same period in the previous year, the business posted ($0.03) earnings per share. The firm’s revenue was down 11.6% on a year-over-year basis. sell-side analysts anticipate that Opko Health will post -0.27 earnings per share for the current fiscal year.
In other news, CEO Phillip Md Et Al Frost acquired 15,000 shares of the firm’s stock in a transaction dated Tuesday, September 19th. The shares were bought at an average price of $6.01 per share, with a total value of $90,150.00. Following the acquisition, the chief executive officer now owns 3,068,951 shares of the company’s stock, valued at $18,444,395.51. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Opko Health, Inc. acquired 655,738 shares of the firm’s stock in a transaction dated Monday, October 30th. The shares were purchased at an average cost of $3.05 per share, for a total transaction of $2,000,000.90. Following the acquisition, the insider now directly owns 6,678,752 shares in the company, valued at approximately $20,370,193.60. The disclosure for this purchase can be found here. Insiders acquired a total of 710,738 shares of company stock worth $2,330,151 in the last ninety days. Insiders own 40.19% of the company’s stock.
Large investors have recently made changes to their positions in the company. Blair William & Co. IL acquired a new stake in shares of Opko Health during the 2nd quarter worth approximately $112,000. Engineers Gate Manager LP acquired a new stake in shares of Opko Health during the 2nd quarter worth approximately $117,000. Crossmark Global Holdings Inc. acquired a new stake in shares of Opko Health during the 3rd quarter worth approximately $118,000. IFC Holdings Incorporated FL grew its holdings in shares of Opko Health by 16.5% during the 2nd quarter. IFC Holdings Incorporated FL now owns 17,864 shares of the biotechnology company’s stock worth $119,000 after purchasing an additional 2,525 shares in the last quarter. Finally, Abbot Financial Management Inc. acquired a new stake in shares of Opko Health during the 2nd quarter worth approximately $129,000. 22.91% of the stock is currently owned by institutional investors.
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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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