Opko Health Inc. (OPK) Expected to Post Quarterly Sales of $262.52 Million

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Wall Street analysts predict that Opko Health Inc. (NASDAQ:OPK) will announce sales of $262.52 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Opko Health’s earnings. The lowest sales estimate is $259.67 million and the highest is $268.10 million. Opko Health reported sales of $263.50 million during the same quarter last year, which would suggest a negative year over year growth rate of 0.4%. The business is expected to announce its next earnings results on Wednesday, November 14th.

On average, analysts expect that Opko Health will report full-year sales of $1.04 billion for the current fiscal year, with estimates ranging from $1.03 billion to $1.05 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.07 billion, with estimates ranging from $1.03 billion to $1.09 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Opko Health.

Opko Health (NASDAQ:OPK) last posted its quarterly earnings results on Tuesday, August 7th. The biotechnology company reported ($0.01) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.06. The firm had revenue of $263.69 million for the quarter, compared to the consensus estimate of $260.37 million. Opko Health had a negative net margin of 31.73% and a negative return on equity of 9.32%.

OPK has been the topic of several research reports. BidaskClub raised shares of Opko Health from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 3rd. ValuEngine raised shares of Opko Health from a “sell” rating to a “hold” rating in a research note on Thursday, July 26th. Cantor Fitzgerald reissued a “buy” rating and issued a $20.00 price target on shares of Opko Health in a research note on Tuesday, August 7th. Finally, Barrington Research reissued a “buy” rating and issued a $7.00 price target on shares of Opko Health in a research note on Friday, October 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $9.69.

In other news, CEO Phillip Md Et Al Frost acquired 90,000 shares of the business’s stock in a transaction that occurred on Thursday, July 26th. The stock was purchased at an average cost of $5.06 per share, for a total transaction of $455,400.00. Following the completion of the transaction, the chief executive officer now owns 3,068,951 shares in the company, valued at $15,528,892.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have purchased 225,000 shares of company stock valued at $1,210,850. 42.74% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in OPK. Essex Investment Management Co. LLC boosted its stake in shares of Opko Health by 3.5% in the second quarter. Essex Investment Management Co. LLC now owns 285,700 shares of the biotechnology company’s stock valued at $1,343,000 after purchasing an additional 9,697 shares during the period. Shufro Rose & Co. LLC boosted its stake in shares of Opko Health by 5.7% in the second quarter. Shufro Rose & Co. LLC now owns 210,200 shares of the biotechnology company’s stock valued at $988,000 after purchasing an additional 11,300 shares during the period. RPg Family Wealth Advisory LLC boosted its stake in shares of Opko Health by 74.3% in the second quarter. RPg Family Wealth Advisory LLC now owns 31,080 shares of the biotechnology company’s stock valued at $146,000 after purchasing an additional 13,250 shares during the period. Strs Ohio boosted its stake in shares of Opko Health by 20.5% in the third quarter. Strs Ohio now owns 88,600 shares of the biotechnology company’s stock valued at $306,000 after purchasing an additional 15,100 shares during the period. Finally, RK Asset Management LLC boosted its stake in shares of Opko Health by 1.8% in the third quarter. RK Asset Management LLC now owns 1,044,893 shares of the biotechnology company’s stock valued at $3,615,000 after purchasing an additional 18,875 shares during the period. Hedge funds and other institutional investors own 24.70% of the company’s stock.

Shares of NASDAQ:OPK traded down $0.08 during midday trading on Friday, hitting $3.59. The company’s stock had a trading volume of 3,255,600 shares, compared to its average volume of 5,552,234. The company has a current ratio of 1.05, a quick ratio of 0.90 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.13 billion, a P/E ratio of -13.10 and a beta of 2.18. Opko Health has a 12-month low of $2.66 and a 12-month high of $6.99.

About Opko Health

OPKO Health, Inc, a healthcare company, engages in the diagnostics and pharmaceuticals business in the United States, Ireland, Chile, Spain, Israel, Mexico, and internationally. The company's Diagnostics segment operates Bio-Reference Laboratories, a clinical laboratory that offers laboratory testing services in the detection, diagnosis, evaluation, monitoring, and treatment of diseases.

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