OPKO Health (NASDAQ:OPK) Trading 8.2% Higher – Still a Buy?

OPKO Health, Inc. (NASDAQ:OPK)’s stock price rose 8.2% during trading on Wednesday . The company traded as high as $1.62 and last traded at $1.6450. Approximately 467,588 shares traded hands during trading, a decline of 84% from the average daily volume of 2,970,710 shares. The stock had previously closed at $1.52.

Analyst Ratings Changes

Several analysts have recently weighed in on OPK shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of OPKO Health in a research note on Thursday, August 13th. HC Wainwright reissued a “buy” rating on shares of OPKO Health in a research note on Wednesday, July 29th. Finally, Wall Street Zen upgraded OPKO Health from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $1.55.

OPKO Health Stock Performance

The business has a fifty day simple moving average of $1.39 and a two-hundred day simple moving average of $1.29. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.35 and a quick ratio of 2.93. The company has a market cap of $1.24 billion, a PE ratio of -18.39 and a beta of 1.50.

OPKO Health (NASDAQ:OPK) last announced its earnings results on Monday, July 27th. The biotechnology company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.07. OPKO Health had a negative return on equity of 5.88% and a negative net margin of 12.40%.The business had revenue of $163.58 million for the quarter, compared to analysts’ expectations of $131.23 million. During the same quarter last year, the firm earned ($0.19) EPS. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. Research analysts anticipate that OPKO Health, Inc. will post -0.23 earnings per share for the current year.

Institutional Trading of OPKO Health

Several hedge funds and other institutional investors have recently made changes to their positions in OPK. California State Teachers Retirement System increased its position in OPKO Health by 248.3% during the 2nd quarter. California State Teachers Retirement System now owns 1,442,226 shares of the biotechnology company’s stock valued at $2,163,000 after buying an additional 1,028,189 shares in the last quarter. Headlands Technologies LLC grew its stake in shares of OPKO Health by 91.2% during the second quarter. Headlands Technologies LLC now owns 107,989 shares of the biotechnology company’s stock worth $162,000 after acquiring an additional 51,509 shares during the last quarter. Two Sigma Securities LLC acquired a new position in shares of OPKO Health during the second quarter valued at about $27,000. Van ECK Associates Corp increased its holdings in shares of OPKO Health by 174.0% during the second quarter. Van ECK Associates Corp now owns 438,645 shares of the biotechnology company’s stock valued at $658,000 after acquiring an additional 278,549 shares in the last quarter. Finally, Bank of America Corp DE purchased a new position in shares of OPKO Health in the 2nd quarter valued at approximately $1,194,000. Hedge funds and other institutional investors own 64.63% of the company’s stock.

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.