Opko Health, Inc. (NASDAQ:OPK) Upgraded to “Hold” at BidaskClub

BidaskClub upgraded shares of Opko Health, Inc. (NASDAQ:OPK) from a sell rating to a hold rating in a research note released on Monday, July 24th.

Other equities analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Opko Health from a hold rating to a buy rating and set a $7.25 price objective for the company in a report on Friday, July 21st. Ladenburg Thalmann Financial Services restated a buy rating and issued a $19.50 price objective on shares of Opko Health in a report on Tuesday, June 6th. Jefferies Group LLC restated a hold rating and issued a $8.00 price objective on shares of Opko Health in a report on Monday, June 12th. Finally, Barrington Research raised their price objective on Opko Health to $11.00 and gave the company an outperform rating in a report on Tuesday, July 18th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $15.28.

Shares of Opko Health (NASDAQ OPK) traded up 4.08% during mid-day trading on Monday, hitting $6.12. The company’s stock had a trading volume of 6,288,570 shares. The stock’s market cap is $3.42 billion. Opko Health has a 1-year low of $5.85 and a 1-year high of $12.15. The company has a 50-day moving average price of $6.27 and a 200-day moving average price of $7.19.

Opko Health (NASDAQ:OPK) last announced its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported ($0.04) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. The company had revenue of $314.20 million during the quarter, compared to analysts’ expectations of $322.64 million. Opko Health had a negative return on equity of 3.67% and a negative net margin of 6.52%. Opko Health’s revenue for the quarter was down 12.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.02 EPS. Analysts predict that Opko Health will post ($0.20) EPS for the current fiscal year.

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In related news, Director John A. Paganelli acquired 5,000 shares of the business’s stock in a transaction on Thursday, June 1st. The stock was purchased at an average cost of $6.17 per share, for a total transaction of $30,850.00. Following the completion of the transaction, the director now directly owns 350,340 shares of the company’s stock, valued at approximately $2,161,597.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Phillip Md Et Al Frost acquired 120,000 shares of the business’s stock in a transaction on Monday, May 22nd. The shares were bought at an average price of $6.43 per share, with a total value of $771,600.00. Following the completion of the transaction, the chief executive officer now directly owns 3,068,951 shares of the company’s stock, valued at $19,733,354.93. The disclosure for this purchase can be found here. Insiders purchased a total of 1,638,200 shares of company stock valued at $10,370,607 over the last quarter. 40.19% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Janney Capital Management LLC boosted its position in shares of Opko Health by 37.2% in the first quarter. Janney Capital Management LLC now owns 19,730 shares of the biotechnology company’s stock valued at $157,000 after buying an additional 5,348 shares in the last quarter. IFC Holdings Incorporated FL boosted its position in shares of Opko Health by 15.9% in the first quarter. IFC Holdings Incorporated FL now owns 15,339 shares of the biotechnology company’s stock valued at $122,000 after buying an additional 2,100 shares in the last quarter. RK Asset Management LLC boosted its position in shares of Opko Health by 0.4% in the first quarter. RK Asset Management LLC now owns 887,719 shares of the biotechnology company’s stock valued at $7,102,000 after buying an additional 3,300 shares in the last quarter. Capstone Asset Management Co. boosted its position in shares of Opko Health by 8.6% in the first quarter. Capstone Asset Management Co. now owns 17,646 shares of the biotechnology company’s stock valued at $141,000 after buying an additional 1,400 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in shares of Opko Health by 1.4% in the first quarter. Bank of Montreal Can now owns 1,044,576 shares of the biotechnology company’s stock valued at $8,357,000 after buying an additional 14,559 shares in the last quarter. 22.94% of the stock is currently owned by institutional investors.

Opko Health Company Profile

OPKO Health, Inc is a healthcare company. Its segments include Pharmaceutical, Diagnostics and Corporate. Pharmaceutical consists of the pharmaceutical operations in Chile, Mexico, Ireland, Israel and Spain and its pharmaceutical research and development operations. Diagnostics consists of the clinical laboratory operations in Bio-Reference Laboratories (Bio-Reference) and its point-of-care operations.

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