OPKO Health (NASDAQ:OPK) Shares Gap Up – Here’s What Happened

OPKO Health, Inc. (NASDAQ:OPK)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $1.84, but opened at $1.94. OPKO Health shares last traded at $1.84, with a volume of 582,582 shares.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. HC Wainwright reissued a “buy” rating and set a $3.00 price target on shares of OPKO Health in a research report on Monday, March 3rd. Barrington Research reissued an “outperform” rating and set a $2.25 target price on shares of OPKO Health in a research report on Friday, February 28th. Finally, StockNews.com raised shares of OPKO Health from a “sell” rating to a “hold” rating in a research report on Monday, March 3rd.

OPKO Health Price Performance

The firm has a market capitalization of $1.21 billion, a P/E ratio of -9.50 and a beta of 1.70. The stock’s fifty day simple moving average is $1.59 and its 200 day simple moving average is $1.56. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.97 and a quick ratio of 2.69.

OPKO Health (NASDAQ:OPK) last posted its quarterly earnings data on Thursday, February 27th. The biotechnology company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.09. The firm had revenue of $183.60 million during the quarter, compared to analyst estimates of $155.42 million. OPKO Health had a negative net margin of 18.65% and a negative return on equity of 9.76%. On average, equities research analysts predict that OPKO Health, Inc. will post -0.25 EPS for the current year.

Insider Transactions at OPKO Health

In related news, CEO Phillip Md Et Al Frost bought 500,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was bought at an average cost of $1.56 per share, for a total transaction of $780,000.00. Following the purchase, the chief executive officer now directly owns 212,411,477 shares of the company’s stock, valued at approximately $331,361,904.12. This trade represents a 0.24 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders acquired 1,389,971 shares of company stock valued at $2,124,442 in the last quarter. 47.26% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On OPKO Health

Several institutional investors and hedge funds have recently made changes to their positions in OPK. Intech Investment Management LLC acquired a new stake in OPKO Health during the 3rd quarter worth about $190,000. Integrated Investment Consultants LLC purchased a new stake in OPKO Health in the third quarter valued at approximately $233,000. FMR LLC increased its holdings in OPKO Health by 103.6% in the 3rd quarter. FMR LLC now owns 21,795 shares of the biotechnology company’s stock worth $32,000 after buying an additional 11,089 shares during the period. BNP Paribas Financial Markets raised its position in OPKO Health by 736.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 246,967 shares of the biotechnology company’s stock worth $368,000 after buying an additional 217,450 shares during the last quarter. Finally, Rubric Capital Management LP lifted its stake in OPKO Health by 9.6% during the 3rd quarter. Rubric Capital Management LP now owns 48,706,640 shares of the biotechnology company’s stock valued at $72,573,000 after acquiring an additional 4,284,336 shares during the period. 64.63% of the stock is currently owned by institutional investors and hedge funds.

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.