Bank of New York Mellon Corp increased its holdings in Opko Health Inc. (NASDAQ:OPK) by 5.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,394,483 shares of the biotechnology company’s stock after buying an additional 69,352 shares during the quarter. Bank of New York Mellon Corp owned about 0.25% of Opko Health worth $9,567,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of OPK. Harel Insurance Investments & Financial Services Ltd. lifted its position in Opko Health by 83.7% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,579,950 shares of the biotechnology company’s stock worth $17,698,000 after purchasing an additional 1,175,726 shares during the period. State Street Corp lifted its position in Opko Health by 3.9% in the second quarter. State Street Corp now owns 11,348,763 shares of the biotechnology company’s stock worth $74,671,000 after purchasing an additional 422,203 shares during the period. Heartland Advisors Inc. acquired a new stake in Opko Health in the third quarter worth approximately $2,058,000. Vanguard Group Inc. lifted its position in Opko Health by 1.1% in the second quarter. Vanguard Group Inc. now owns 26,618,758 shares of the biotechnology company’s stock worth $175,151,000 after purchasing an additional 296,757 shares during the period. Finally, Stevens Capital Management LP acquired a new stake in Opko Health in the second quarter worth approximately $1,798,000. 22.90% of the stock is owned by institutional investors and hedge funds.
In other Opko Health news, major shareholder Opko Health, Inc. bought 655,738 shares of Opko Health stock in a transaction dated Monday, October 30th. The stock was bought at an average price of $3.05 per share, for a total transaction of $2,000,000.90. Following the completion of the acquisition, the insider now directly owns 6,678,752 shares of the company’s stock, valued at $20,370,193.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 40.19% of the stock is owned by corporate insiders.
Opko Health (NASDAQ:OPK) last announced its quarterly earnings data on Wednesday, November 8th. The biotechnology company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). The company had revenue of $263.50 million for the quarter, compared to analyst estimates of $319.43 million. Opko Health had a negative net margin of 9.45% and a negative return on equity of 5.17%. Opko Health’s revenue was down 11.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.03) EPS. sell-side analysts forecast that Opko Health Inc. will post -0.27 earnings per share for the current fiscal year.
A number of equities research analysts have recently commented on OPK shares. Cantor Fitzgerald set a $20.00 price objective on Opko Health and gave the company a “buy” rating in a research report on Wednesday, October 25th. Zacks Investment Research upgraded Opko Health from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. BidaskClub downgraded Opko Health from a “hold” rating to a “sell” rating in a research report on Saturday, November 11th. JPMorgan Chase & Co. downgraded Opko Health from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $12.00 to $7.00 in a research report on Thursday, September 14th. Finally, Ladenburg Thalmann Financial Services reiterated a “buy” rating and set a $16.00 price objective on shares of Opko Health in a research report on Monday, September 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $13.97.
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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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