OPKO Health (NASDAQ:OPK) Sets New 12-Month Low – Here’s What Happened

OPKO Health, Inc. (NASDAQ:OPK) shares reached a new 52-week low during trading on Monday . The company traded as low as $1.10 and last traded at $1.1150, with a volume of 773688 shares changing hands. The stock had previously closed at $1.12.

Analyst Upgrades and Downgrades

OPK has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of OPKO Health in a research note on Thursday, January 22nd. Wall Street Zen cut shares of OPKO Health from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Finally, Barrington Research reduced 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. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $2.03.

OPKO Health Price Performance

The company has a debt-to-equity ratio of 0.26, a current ratio of 3.97 and a quick ratio of 3.52. The firm has a market cap of $838.77 million, a price-to-earnings ratio of -3.68 and a beta of 1.50. The stock has a 50-day moving average price of $1.22 and a 200 day moving average price of $1.33.

OPKO Health (NASDAQ:OPK) last released its quarterly earnings results on Thursday, February 26th. The biotechnology company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03. The firm had revenue of $148.50 million for the quarter, compared to the consensus estimate of $139.76 million. OPKO Health had a negative return on equity of 17.42% and a negative net margin of 37.19%.The firm’s quarterly revenue was down 19.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.01 EPS. As a group, equities research analysts forecast that OPKO Health, Inc. will post -0.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On OPKO Health

Institutional investors have recently modified their holdings of the business. World Investment Advisors boosted its stake in OPKO Health by 63.8% during the 4th quarter. World Investment Advisors now owns 66,520 shares of the biotechnology company’s stock worth $84,000 after purchasing an additional 25,902 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings in shares of OPKO Health by 1,056.9% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 39,232 shares of the biotechnology company’s stock valued at $49,000 after buying an additional 35,841 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of OPKO Health during the fourth quarter worth about $145,000. EP Wealth Advisors LLC acquired a new stake in shares of OPKO Health during the fourth quarter worth about $37,000. Finally, XTX Topco Ltd purchased a new position in shares of OPKO Health during the fourth quarter worth about $432,000. 64.63% of the stock is 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.