Opko Health (NASDAQ:OPK) Stock Price Down 6.2%

Shares of Opko Health Inc. (NASDAQ:OPK) traded down 6.2% during trading on Friday . The company traded as low as $1.83 and last traded at $1.83, 3,195,299 shares changed hands during trading. A decline of 32% from the average session volume of 4,672,648 shares. The stock had previously closed at $1.95.

A number of equities analysts have commented on the stock. Zacks Investment Research raised shares of Opko Health from a “sell” rating to a “hold” rating and set a $2.00 price objective for the company in a research report on Tuesday. ValuEngine raised shares of Opko Health from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st.

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.21 and a quick ratio of 1.04. The stock’s 50-day simple moving average is $2.05 and its 200 day simple moving average is $2.29. The stock has a market capitalization of $1.13 billion, a P/E ratio of -7.32 and a beta of 2.15.

Opko Health (NASDAQ:OPK) last announced its earnings results on Wednesday, August 7th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.01. The company had revenue of $226.40 million during the quarter, compared to analysts’ expectations of $225.07 million. Opko Health had a negative net margin of 26.55% and a negative return on equity of 12.17%. Opko Health’s quarterly revenue was down 14.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.01) earnings per share. As a group, analysts expect that Opko Health Inc. will post -0.43 earnings per share for the current fiscal year.

In other news, CEO Phillip Md Et Al Frost acquired 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was acquired at an average price of $1.90 per share, with a total value of $380,000.00. Following the completion of the transaction, the chief executive officer now directly owns 3,068,951 shares of the company’s stock, valued at approximately $5,831,006.90. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Scott Fishel acquired 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were purchased at an average cost of $1.92 per share, with a total value of $96,000.00. The disclosure for this purchase can be found here. In the last three months, insiders bought 1,050,000 shares of company stock valued at $2,102,000. 42.25% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Piedmont Investment Advisors Inc. acquired a new position in Opko Health during the first quarter worth about $27,000. Mercer Global Advisors Inc. ADV acquired a new position in Opko Health during the first quarter worth about $39,000. Meeder Asset Management Inc. raised its stake in Opko Health by 58.7% during the first quarter. Meeder Asset Management Inc. now owns 13,102 shares of the biotechnology company’s stock worth $35,000 after acquiring an additional 4,846 shares in the last quarter. Eqis Capital Management Inc. acquired a new position in Opko Health during the second quarter worth about $33,000. Finally, B. Riley Wealth Management Inc. acquired a new position in Opko Health during the first quarter worth about $39,000. 25.63% of the stock is owned by institutional investors and hedge funds.

About Opko Health (NASDAQ:OPK)

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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