California Public Employees Retirement System Cuts Stake in Opko Health Inc. (OPK)

California Public Employees Retirement System reduced its holdings in Opko Health Inc. (NASDAQ:OPK) by 6.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 530,200 shares of the biotechnology company’s stock after selling 38,232 shares during the period. California Public Employees Retirement System owned approximately 0.09% of Opko Health worth $1,596,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of OPK. Bank of New York Mellon Corp raised its holdings in shares of Opko Health by 21.2% in the second quarter. Bank of New York Mellon Corp now owns 1,677,072 shares of the biotechnology company’s stock worth $7,882,000 after buying an additional 293,760 shares during the last quarter. First Trust Advisors LP acquired a new stake in shares of Opko Health during the third quarter valued at about $448,000. Wells Fargo & Company MN grew its holdings in shares of Opko Health by 4.3% in the third quarter. Wells Fargo & Company MN now owns 337,868 shares of the biotechnology company’s stock valued at $1,169,000 after purchasing an additional 13,905 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Opko Health by 1.1% in the third quarter. BlackRock Inc. now owns 29,867,711 shares of the biotechnology company’s stock valued at $103,342,000 after purchasing an additional 336,157 shares in the last quarter. Finally, FMR LLC acquired a new position in Opko Health during the 3rd quarter worth approximately $2,362,000. 23.10% of the stock is owned by institutional investors and hedge funds.

In other news, CEO Phillip Md Et Al Frost acquired 50,000 shares of the stock in a transaction dated Wednesday, April 17th. The shares were acquired at an average cost of $2.42 per share, for a total transaction of $121,000.00. Following the completion of the transaction, the chief executive officer now owns 3,068,951 shares in the company, valued at approximately $7,426,861.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Jane Ph D. Hsiao acquired 10,000 shares of the stock in a transaction dated Thursday, January 31st. The shares were purchased at an average price of $7.96 per share, for a total transaction of $79,600.00. Following the completion of the transaction, the insider now owns 24,455,147 shares of the company’s stock, valued at approximately $194,662,970.12. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 798,000 shares of company stock valued at $2,032,580. Corporate insiders own 42.74% of the company’s stock.

NASDAQ:OPK traded down $0.01 during mid-day trading on Friday, reaching $2.40. 6,731,012 shares of the stock were exchanged, compared to its average volume of 3,690,665. The firm has a market cap of $1.48 billion, a P/E ratio of -9.60 and a beta of 1.88. Opko Health Inc. has a 1-year low of $2.34 and a 1-year high of $6.40. The company has a quick ratio of 0.96, a current ratio of 1.10 and a debt-to-equity ratio of 0.03.

Opko Health (NASDAQ:OPK) last released its earnings results on Wednesday, February 27th. The biotechnology company reported ($0.08) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.01. The company had revenue of $221.90 million for the quarter, compared to analysts’ expectations of $242.05 million. Opko Health had a negative return on equity of 7.69% and a negative net margin of 15.46%. Sell-side analysts expect that Opko Health Inc. will post -0.2 EPS for the current year.

Several analysts recently commented on the stock. Zacks Investment Research downgraded shares of Opko Health from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. Barrington Research reissued a “buy” rating and issued a $5.00 price objective on shares of Opko Health in a research note on Thursday, February 28th. Finally, ValuEngine upgraded shares of Opko Health from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $9.67.

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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 BioReference Laboratories, a clinical laboratory that offers laboratory testing services.

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Institutional Ownership by Quarter for Opko Health (NASDAQ:OPK)

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