OPKO Health (NASDAQ:OPK) Reaches New 52-Week High on Strong Earnings

OPKO Health, Inc. (NASDAQ:OPK)’s share price reached a new 52-week high on Friday following a better than expected earnings announcement. The company traded as high as $1.84 and last traded at $1.73, with a volume of 1464045 shares traded. The stock had previously closed at $1.63.

The biotechnology company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.09. OPKO Health had a negative return on equity of 9.76% and a negative net margin of 18.65%. The business had revenue of $183.60 million during the quarter, compared to analyst estimates of $155.42 million.

Wall Street Analyst Weigh In

OPK has been the topic of a number of recent analyst reports. HC Wainwright restated a “buy” rating and set a $3.00 target price on shares of OPKO Health in a research note on Wednesday, January 8th. StockNews.com downgraded shares of OPKO Health from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $2.25 target price on shares of OPKO Health in a report on Friday, November 8th.

Insiders Place Their Bets

In other OPKO Health news, CEO Phillip Md Et Al Frost bought 47,537 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was purchased at an average cost of $1.47 per share, with a total value of $69,879.39. Following the completion of the acquisition, the chief executive officer now owns 213,234,014 shares in the company, valued at $313,454,000.58. This trade represents a 0.02 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders acquired 1,322,537 shares of company stock worth $2,009,129 in the last three months. 47.26% of the stock is owned by company insiders.

Hedge Funds Weigh In On OPKO Health

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Private Advisor Group LLC lifted its holdings in shares of OPKO Health by 242.7% in the 3rd quarter. Private Advisor Group LLC now owns 35,301 shares of the biotechnology company’s stock valued at $53,000 after acquiring an additional 25,000 shares during the last quarter. Assenagon Asset Management S.A. raised its position in OPKO Health by 142.5% during the third quarter. Assenagon Asset Management S.A. now owns 1,490,992 shares of the biotechnology company’s stock valued at $2,227,000 after purchasing an additional 876,272 shares during the period. Ground Swell Capital LLC bought a new stake in shares of OPKO Health in the 3rd quarter valued at approximately $63,000. Intech Investment Management LLC purchased a new position in shares of OPKO Health in the 3rd quarter worth approximately $190,000. Finally, Integrated Investment Consultants LLC bought a new position in shares of OPKO Health during the 3rd quarter valued at approximately $233,000. 64.63% of the stock is owned by hedge funds and other institutional investors.

OPKO Health Stock Up 4.4 %

The company has a market cap of $1.16 billion, a PE ratio of -9.03 and a beta of 1.63. The company has a fifty day moving average of $1.55 and a two-hundred day moving average of $1.55. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.69 and a current ratio of 2.97.

OPKO Health Company Profile

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 4Kscore prostate cancer test.