Short Interest in Opko Health, Inc. (OPK) Drops By 1.7%
Opko Health, Inc. (NASDAQ:OPK) saw a large decrease in short interest during the month of July. As of July 31st, there was short interest totalling 72,810,020 shares, a decrease of 1.7% from the July 14th total of 74,103,155 shares. Based on an average trading volume of 3,794,361 shares, the short-interest ratio is currently 19.2 days. Currently, 21.8% of the shares of the stock are sold short.
Several analysts recently weighed in on OPK shares. Zacks Investment Research upgraded shares of Opko Health from a “hold” rating to a “buy” rating and set a $7.25 target price for the company in a report on Friday, July 21st. Ladenburg Thalmann Financial Services reiterated a “buy” rating and issued a $19.50 target price on shares of Opko Health in a report on Tuesday, June 6th. Jefferies Group LLC reiterated a “hold” rating and issued a $8.00 target price on shares of Opko Health in a report on Thursday, July 27th. BidaskClub upgraded shares of Opko Health from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Finally, Barrington Research lifted their target price on shares of Opko Health to $11.00 and gave the company an “outperform” rating in a report on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $14.61.
In other news, CEO Phillip Md Et Al Frost purchased 207,700 shares of the business’s stock in a transaction dated Wednesday, May 31st. The stock was acquired at an average price of $6.11 per share, for a total transaction of $1,269,047.00. Following the acquisition, the chief executive officer now directly owns 3,068,951 shares of the company’s stock, valued at $18,751,290.61. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard A. Lerner purchased 10,000 shares of the business’s stock in a transaction dated Monday, June 5th. The shares were purchased at an average price of $6.31 per share, with a total value of $63,100.00. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 1,631,000 shares of company stock valued at $10,394,917. 40.19% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the company. Shikiar Asset Management Inc. raised its position in shares of Opko Health by 48.1% in the first quarter. Shikiar Asset Management Inc. now owns 38,500 shares of the biotechnology company’s stock valued at $308,000 after buying an additional 12,500 shares during the period. Canada Pension Plan Investment Board acquired a new stake in Opko Health during the first quarter valued at about $2,197,000. Wells Fargo & Company MN raised its stake in Opko Health by 70.8% in the first quarter. Wells Fargo & Company MN now owns 699,650 shares of the biotechnology company’s stock valued at $5,597,000 after buying an additional 290,084 shares during the last quarter. Hikari Power Ltd acquired a new stake in Opko Health during the first quarter valued at about $715,000. Finally, Shell Asset Management Co. acquired a new stake in Opko Health during the first quarter valued at about $551,000. 23.05% of the stock is owned by hedge funds and other institutional investors.
Shares of Opko Health (OPK) opened at 6.24 on Friday. The company has a 50-day moving average of $6.38 and a 200 day moving average of $7.28. The firm’s market cap is $3.49 billion. Opko Health has a 12-month low of $5.99 and a 12-month high of $12.15.
Opko Health (NASDAQ:OPK) last issued its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.01. Opko Health had a negative net margin of 6.52% and a negative return on equity of 3.67%. The firm had revenue of $314.20 million during the quarter, compared to analyst estimates of $322.64 million. During the same quarter in the prior year, the business posted $0.02 earnings per share. Opko Health’s revenue for the quarter was down 12.0% compared to the same quarter last year. Equities research analysts anticipate that Opko Health will post ($0.20) earnings per share for the current fiscal year.
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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