OPKO Health (NASDAQ:OPK) Sets New 52-Week Low – Time to Sell?

Shares of OPKO Health, Inc. (NASDAQ:OPK) hit a new 52-week low on Friday . The stock traded as low as $1.11 and last traded at $1.1150, with a volume of 1866323 shares changing hands. The stock had previously closed at $1.17.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on OPK. Barrington Research cut their price objective on shares of OPKO Health from $2.25 to $1.50 and set an “outperform” rating for the company in a research report on Monday, March 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of OPKO Health in a report on Thursday, January 22nd. Wall Street Zen cut shares of OPKO Health from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Finally, JPMorgan Chase & Co. started coverage on shares of OPKO Health in a research report on Thursday, November 20th. They set a “neutral” rating on the stock. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, OPKO Health presently has an average rating of “Hold” and an average target price of $2.03.

OPKO Health Stock Down 4.3%

The business has a 50-day moving average of $1.24 and a 200-day moving average of $1.34. The company has a debt-to-equity ratio of 0.26, a quick ratio of 3.52 and a current ratio of 3.97. The stock has a market capitalization of $850.16 million, a price-to-earnings ratio of -3.73 and a beta of 1.50.

OPKO Health (NASDAQ:OPK) last issued its quarterly earnings data on Thursday, February 26th. The biotechnology company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.03. OPKO Health had a negative net margin of 37.19% and a negative return on equity of 17.42%. The firm had revenue of $148.50 million for the quarter, compared to analyst estimates of $139.76 million. During the same period in the previous year, the firm earned $0.01 EPS. OPKO Health’s revenue was down 19.1% on a year-over-year basis. On average, sell-side analysts expect that OPKO Health, Inc. will post -0.25 EPS for the current year.

Hedge Funds Weigh In On OPKO Health

Large investors have recently made changes to their positions in the stock. Comerica Bank boosted its position in shares of OPKO Health by 7.1% during the 4th quarter. Comerica Bank now owns 120,000 shares of the biotechnology company’s stock worth $151,000 after purchasing an additional 8,000 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in OPKO Health by 4.7% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 198,148 shares of the biotechnology company’s stock valued at $262,000 after purchasing an additional 8,954 shares during the period. The Manufacturers Life Insurance Company raised its position in OPKO Health by 11.2% in the second quarter. The Manufacturers Life Insurance Company now owns 138,643 shares of the biotechnology company’s stock valued at $183,000 after purchasing an additional 13,912 shares during the period. Intech Investment Management LLC lifted its stake in OPKO Health by 11.4% during the fourth quarter. Intech Investment Management LLC now owns 159,652 shares of the biotechnology company’s stock worth $201,000 after purchasing an additional 16,329 shares in the last quarter. Finally, Caprock Group LLC acquired a new position in OPKO Health during the third quarter worth $26,000. 64.63% of the stock is currently owned by institutional investors and hedge funds.

OPKO Health Company Profile

OPKO Health, Inc (NASDAQ:OPK) is a diversified, global healthcare company headquartered in Miami, Florida, with a focus on diagnostics, pharmaceuticals and biologics development. The company operates two main business segments—Laboratory Services and Pharma Services & Products—driven by its mission to advance patient care through innovation in testing and targeted therapies.

In its Laboratory Services segment, OPKO leverages BioReference Laboratories, one of the largest full-service commercial labs in the United States.