OPKO Health (NASDAQ:OPK) Shares Down 5.4% – What’s Next?

OPKO Health, Inc. (NASDAQ:OPK) shares were down 5.4% on Friday . The company traded as low as $1.33 and last traded at $1.3250. Approximately 965,972 shares traded hands during trading, a decline of 68% from the average session volume of 3,002,987 shares. The stock had previously closed at $1.40.

Wall Street Analyst Weigh In

OPK has been the subject of several recent research reports. Barrington Research cut shares of OPKO Health from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 29th. HC Wainwright reissued a “buy” rating on shares of OPKO Health in a report on Wednesday, July 29th. Wall Street Zen raised OPKO Health from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Finally, Weiss Ratings raised shares of OPKO Health from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, May 18th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $1.55.

OPKO Health Stock Performance

The firm’s fifty day moving average is $1.38 and its 200-day moving average is $1.27. The company has a current ratio of 3.35, a quick ratio of 2.93 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $996.35 million, a PE ratio of -14.83 and a beta of 1.51.

OPKO Health (NASDAQ:OPK) last posted its earnings results on Monday, July 27th. The biotechnology company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.07. OPKO Health had a negative net margin of 12.40% and a negative return on equity of 5.88%. The firm had revenue of $163.58 million during the quarter, compared to the consensus estimate of $131.23 million. During the same quarter last year, the firm earned ($0.19) EPS. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. As a group, research analysts anticipate that OPKO Health, Inc. will post -0.24 earnings per share for the current year.

Institutional Trading of OPKO Health

A number of large investors have recently modified their holdings of OPK. BlackRock Inc. acquired a new stake in OPKO Health in the 2nd quarter valued at about $55,468,000. Goldman Sachs Group Inc. lifted its position in OPKO Health by 150.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 5,986,913 shares of the biotechnology company’s stock valued at $7,544,000 after acquiring an additional 3,600,378 shares during the last quarter. Millennium Management LLC grew its stake in OPKO Health by 39.2% during the 1st quarter. Millennium Management LLC now owns 6,386,911 shares of the biotechnology company’s stock worth $10,602,000 after buying an additional 1,798,385 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of OPKO Health in the 2nd quarter valued at $1,995,000. Finally, AQR Capital Management LLC raised its holdings in shares of OPKO Health by 466.7% in the first quarter. AQR Capital Management LLC now owns 1,608,906 shares of the biotechnology company’s stock valued at $2,671,000 after buying an additional 1,324,988 shares during the last quarter. Hedge funds and other institutional investors own 64.63% of the company’s stock.

About OPKO Health

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.