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

OPKO Health, Inc. (NASDAQ:OPK)’s stock price hit a new 52-week high on Thursday . The company traded as high as $1.73 and last traded at $1.6650, with a volume of 242147 shares trading hands. The stock had previously closed at $1.69.

Analyst Upgrades and Downgrades

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

OPKO Health Stock Down 0.9%

The company has a quick ratio of 2.93, a current ratio of 3.35 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $1.25 billion, a P/E ratio of -18.61 and a beta of 1.50. The firm has a fifty day simple moving average of $1.39 and a 200-day simple moving average of $1.29.

OPKO Health (NASDAQ:OPK) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $131.23 million. During the same period in the previous year, the firm earned ($0.19) EPS. OPKO Health’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, equities research analysts expect that OPKO Health, Inc. will post -0.23 EPS for the current fiscal year.

Institutional Investors Weigh In On OPKO Health

Several institutional investors have recently bought and sold shares of OPK. BlackRock Inc. acquired a new position in OPKO Health during the second quarter worth $55,468,000. Geode Capital Management LLC boosted its position in OPKO Health by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 11,061,318 shares of the biotechnology company’s stock worth $13,940,000 after purchasing an additional 67,973 shares during the period. Millennium Management LLC grew its stake in OPKO Health by 39.2% in the 1st quarter. Millennium Management LLC now owns 6,386,911 shares of the biotechnology company’s stock valued at $10,602,000 after buying an additional 1,798,385 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of 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 purchasing an additional 3,600,378 shares during the last quarter. Finally, UBS Group AG grew its holdings in OPKO Health by 12.1% in the 4th quarter. UBS Group AG now owns 5,352,784 shares of the biotechnology company’s stock valued at $6,745,000 after buying an additional 577,248 shares in the last quarter. 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.