OPKO Health (NASDAQ:OPK) Hits New 1-Year High – Here’s Why

OPKO Health, Inc. (NASDAQ:OPK)’s stock price reached a new 52-week high on Thursday . The company traded as high as $2.04 and last traded at $1.94, with a volume of 15826287 shares trading hands. The stock had previously closed at $1.92.

Wall Street Analysts Forecast Growth

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

OPKO Health Stock Performance

The stock has a market capitalization of $1.32 billion, a PE ratio of -10.21 and a beta of 1.63. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.69 and a current ratio of 2.97. The firm has a 50 day moving average of $1.56 and a 200-day moving average of $1.55.

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

Insider Activity

In other news, CEO Phillip Md Et Al Frost purchased 67,434 shares of OPKO Health stock in a transaction dated Friday, February 28th. The stock was acquired at an average cost of $1.71 per share, for a total transaction of $115,312.14. Following the acquisition, the chief executive officer now directly owns 213,301,448 shares in the company, valued at $364,745,476.08. This represents a 0.03 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have purchased a total of 1,389,971 shares of company stock worth $2,124,442 in the last ninety days. Corporate insiders own 47.26% of the company’s stock.

Institutional Trading of OPKO Health

A number of institutional investors have recently added to or reduced their stakes in the business. FMR LLC lifted its position in shares of OPKO Health by 103.6% in the third 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 last quarter. Orion Portfolio Solutions LLC acquired a new stake in OPKO Health in the 3rd quarter worth approximately $45,000. Cibc World Markets Corp acquired a new stake in OPKO Health in the 4th quarter worth approximately $45,000. Zacks Investment Management bought a new stake in OPKO Health during the fourth quarter worth approximately $49,000. Finally, Ieq Capital LLC acquired a new position in OPKO Health during the fourth quarter valued at approximately $52,000. 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.