Zacks: Analysts Anticipate Opko Health, Inc. (OPK) Will Post Quarterly Sales of $307.44 Million
Wall Street analysts expect that Opko Health, Inc. (NASDAQ:OPK) will report $307.44 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Opko Health’s earnings, with the lowest sales estimate coming in at $296.51 million and the highest estimate coming in at $325.20 million. Opko Health reported sales of $275.50 million during the same quarter last year, which indicates a positive year-over-year growth rate of 11.6%. The business is scheduled to issue its next quarterly earnings report on Wednesday, March 7th.
On average, analysts expect that Opko Health will report full year sales of $307.44 million for the current fiscal year, with estimates ranging from $1.17 billion to $1.20 billion. For the next financial year, analysts forecast that the company will post sales of $1.29 billion per share, with estimates ranging from $1.26 billion to $1.34 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Opko Health.
Opko Health (NASDAQ:OPK) last released its quarterly earnings data on Wednesday, November 8th. The biotechnology company reported ($0.08) earnings per share for the quarter, missing the 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 for the quarter, compared to analysts’ expectations of $319.43 million. During the same period in the previous year, the firm earned ($0.03) earnings per share. The firm’s revenue for the quarter was down 11.6% on a year-over-year basis.
Several research firms have recently weighed in on OPK. Zacks Investment Research cut shares of Opko Health from a “hold” rating to a “sell” rating in a report on Tuesday. Jefferies Group LLC reaffirmed a “hold” rating and set a $8.00 target price on shares of Opko Health in a report on Thursday, July 27th. BidaskClub raised shares of Opko Health from a “sell” rating to a “hold” rating in a report on Saturday, September 23rd. J P Morgan Chase & Co cut shares of Opko Health from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $12.00 to $7.00 in a report on Thursday, September 14th. Finally, Barrington Research upped 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. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. Opko Health has a consensus rating of “Hold” and an average target price of $13.97.
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Opko Health (NASDAQ OPK) traded down $0.65 on Wednesday, hitting $4.61. 18,780,299 shares of the stock traded hands, compared to its average volume of 4,529,128. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.66 and a quick ratio of 1.48. Opko Health has a 1 year low of $4.55 and a 1 year high of $12.15.
In other Opko Health news, CEO Phillip Md Et Al Frost acquired 260,000 shares of the stock in a transaction on Thursday, September 14th. The stock was acquired at an average price of $5.98 per share, for a total transaction of $1,554,800.00. Following the completion of the transaction, the chief executive officer now directly owns 3,068,951 shares of the company’s stock, valued at $18,352,326.98. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Opko Health, Inc. acquired 655,738 shares of the stock in a transaction on Monday, October 30th. The shares were acquired at an average price of $3.05 per share, with a total value of $2,000,000.90. Following the transaction, the insider now directly owns 6,678,752 shares of the company’s stock, valued at $20,370,193.60. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 1,176,038 shares of company stock valued at $5,126,540. 40.19% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in OPK. Financial Architects Inc increased its stake in Opko Health by 45.0% in the 2nd quarter. Financial Architects Inc now owns 15,460 shares of the biotechnology company’s stock worth $102,000 after buying an additional 4,800 shares during the period. Blair William & Co. IL purchased a new position in Opko Health in the 2nd quarter worth about $112,000. Crossmark Global Holdings Inc. purchased a new position in Opko Health in the 3rd quarter worth about $118,000. Engineers Gate Manager LP purchased a new position in Opko Health in the 2nd quarter worth about $117,000. Finally, IFC Holdings Incorporated FL increased its stake in Opko Health by 16.5% in the 2nd quarter. IFC Holdings Incorporated FL now owns 17,864 shares of the biotechnology company’s stock worth $119,000 after buying an additional 2,525 shares during the period. 22.66% of the stock is currently owned by institutional investors and hedge funds.
About Opko Health
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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