Zacks Investment Research upgraded shares of Opko Health (NASDAQ:OPK) from a sell rating to a hold rating in a report issued on Tuesday.
According to Zacks, “OPKO Health is a multinational biopharmaceutical and diagnostics company that seeks to establish industry-leading positions in large, rapidly growing markets by leveraging its discovery, development and commercialization expertise and novel and proprietary technologies. “
A number of other research analysts have also commented on the company. Ladenburg Thalmann Financial Services reiterated a buy rating and set a $16.00 price target on shares of Opko Health in a report on Monday, September 25th. BidaskClub upgraded Opko Health from a sell rating to a hold rating in a report on Saturday, September 23rd. J P Morgan Chase & Co lowered Opko Health from an overweight rating to a neutral rating and cut their price target for the stock from $12.00 to $7.00 in a report on Thursday, September 14th. Finally, Cantor Fitzgerald set a $20.00 price target on Opko Health and gave the stock a buy rating in a report on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $13.97.
Opko Health (NASDAQ:OPK) last posted its earnings results on Wednesday, November 8th. The biotechnology company reported ($0.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.03). Opko Health had a negative return on equity of 5.17% and a negative net margin of 9.45%. The company had revenue of $263.50 million during the quarter, compared to analyst estimates of $319.43 million. During the same quarter last year, the firm posted ($0.03) earnings per share. The firm’s revenue for the quarter was down 11.6% compared to the same quarter last year. equities analysts forecast that Opko Health will post -0.27 earnings per share for the current year.
In other Opko Health news, major shareholder Opko Health, Inc. bought 655,738 shares of the firm’s stock in a transaction dated Monday, October 30th. The shares were bought at an average price of $3.05 per share, for a total transaction of $2,000,000.90. Following the completion of the acquisition, the insider now owns 6,678,752 shares of the company’s stock, valued at $20,370,193.60. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Phillip Md Et Al Frost bought 15,000 shares of the firm’s stock in a transaction dated Tuesday, September 19th. The shares were acquired at an average price of $6.01 per share, for a total transaction of $90,150.00. Following the acquisition, the chief executive officer now directly owns 3,068,951 shares of the company’s stock, valued at approximately $18,444,395.51. The disclosure for this purchase can be found here. Insiders acquired 710,738 shares of company stock worth $2,330,151 over the last quarter. Company insiders own 40.19% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Opko Health by 1.1% during the second quarter. Vanguard Group Inc. now owns 26,618,758 shares of the biotechnology company’s stock valued at $175,151,000 after acquiring an additional 296,757 shares during the period. BlackRock Inc. lifted its stake in shares of Opko Health by 1.1% during the second quarter. BlackRock Inc. now owns 22,901,261 shares of the biotechnology company’s stock valued at $150,689,000 after acquiring an additional 255,976 shares during the period. State Street Corp lifted its stake in shares of Opko Health by 3.9% during the second quarter. State Street Corp now owns 11,348,763 shares of the biotechnology company’s stock valued at $74,671,000 after acquiring an additional 422,203 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Opko Health by 127.2% during the third quarter. Dimensional Fund Advisors LP now owns 4,003,643 shares of the biotechnology company’s stock valued at $27,466,000 after acquiring an additional 2,241,103 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of Opko Health by 83.7% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,579,950 shares of the biotechnology company’s stock valued at $17,698,000 after acquiring an additional 1,175,726 shares during the period. 22.91% of the stock is currently owned by institutional investors and hedge funds.
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About Opko Health
OPKO Health, Inc is a healthcare company. Its segments include Pharmaceutical, Diagnostics and Corporate. Pharmaceutical consists of the pharmaceutical operations in Chile, Mexico, Ireland, Israel and Spain and its pharmaceutical research and development operations. Diagnostics consists of the clinical laboratory operations in Bio-Reference Laboratories (Bio-Reference) and its point-of-care operations.
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