OPKO Health (NASDAQ:OPK) Sees Unusually-High Trading Volume

Posted by Jay Halladay on Aug 6th, 2022

Shares of OPKO Health, Inc. (NASDAQ:OPK – Get Rating) saw strong trading volume on Thursday . 186,537 shares changed hands during trading, a decline of 92% from the previous session’s volume of 2,292,802 shares.The stock last traded at $2.33 and had previously closed at $2.44.

Wall Street Analyst Weigh In

Separately, Piper Sandler cut their price target on shares of OPKO Health from $5.00 to $4.00 and set an “overweight” rating for the company in a report on Friday.

OPKO Health Stock Down 5.0 %

The firm’s fifty day moving average is $2.62 and its 200-day moving average is $3.00. The company has a current ratio of 2.44, a quick ratio of 2.12 and a debt-to-equity ratio of 0.13.

OPKO Health (NASDAQ:OPK – Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.12). OPKO Health had a negative net margin of 14.18% and a negative return on equity of 7.76%. The firm had revenue of $309.90 million for the quarter, compared to the consensus estimate of $326.87 million. During the same period in the prior year, the business earned ($0.03) earnings per share. The company’s revenue for the quarter was down 30.0% on a year-over-year basis. On average, equities research analysts expect that OPKO Health, Inc. will post -0.22 EPS for the current fiscal year.

Insider Activity at OPKO Health

In related news, Vice Chairman Elias A. Zerhouni bought 89,600 shares of the company’s stock in a transaction on Tuesday, May 10th. The stock was bought at an average cost of $2.79 per share, with a total value of $249,984.00. Following the completion of the purchase, the insider now owns 89,600 shares in the company, valued at approximately $249,984. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Vice Chairman Elias A. Zerhouni bought 89,600 shares of the company’s stock in a transaction on Tuesday, May 10th. The stock was bought at an average cost of $2.79 per share, with a total value of $249,984.00. Following the completion of the purchase, the insider now owns 89,600 shares in the company, valued at approximately $249,984. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Phillip Md Et Al Frost bought 400,000 shares of the company’s stock in a transaction on Tuesday, May 10th. The stock was bought at an average cost of $2.78 per share, with a total value of $1,112,000.00. Following the completion of the purchase, the chief executive officer now owns 195,156,694 shares of the company’s stock, valued at approximately $542,535,609.32. The disclosure for this purchase can be found here. Insiders bought 1,729,600 shares of company stock valued at $4,674,584 in the last ninety days. Insiders own 40.97% of the company’s stock.

Institutional Investors Weigh In On OPKO Health

Institutional investors have recently modified their holdings of the business. Cornerstone Advisory LLC acquired a new stake in shares of OPKO Health during the 4th quarter worth approximately $29,000. Russell Investments Group Ltd. acquired a new stake in shares of OPKO Health during the 4th quarter worth approximately $50,000. American Century Companies Inc. acquired a new stake in shares of OPKO Health during the 4th quarter worth approximately $51,000. Humankind Investments LLC acquired a new stake in shares of OPKO Health during the 1st quarter worth approximately $37,000. Finally, Guggenheim Capital LLC acquired a new stake in shares of OPKO Health during the 1st quarter worth approximately $38,000. Institutional investors and hedge funds own 27.83% of the company’s stock.

OPKO Health Company Profile

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OPKO Health, Inc, a healthcare company, engages in the diagnostics and pharmaceuticals businesses in the United States, Ireland, Chile, Spain, Israel, Mexico, and internationally. The company's Diagnostics segment operates BioReference Laboratories that offers laboratory testing services for the detection, diagnosis, evaluation, monitoring, and treatment of diseases, including esoteric testing, molecular diagnostics, anatomical pathology, genetics, women's health, and correctional healthcare to physician offices, clinics, hospitals, employers and governmental units; and a novel diagnostic instrument system to provide blood test results in the point-of-care setting, as well as 4Kscore prostate cancer testing services.