OPKO Health (NASDAQ:OPK) Sets New 1-Year High – Here’s What Happened

OPKO Health, Inc. (NASDAQ:OPK) hit a new 52-week high on Thursday . The stock traded as high as $1.73 and last traded at $1.6650, with a volume of 242147 shares traded. The stock had previously closed at $1.69.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Wall Street Zen raised OPKO Health from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. HC Wainwright reissued a “buy” rating on shares of OPKO Health in a research report on Wednesday, July 29th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of OPKO Health in a research note on Thursday, August 13th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $1.55.

OPKO Health Stock Performance

The company has a quick ratio of 2.93, a current ratio of 3.35 and a debt-to-equity ratio of 0.28. The stock has a fifty day moving average price of $1.40 and a 200-day moving average price of $1.29. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of -18.22 and a beta of 1.50.

OPKO Health (NASDAQ:OPK) last issued its quarterly earnings results on Monday, July 27th. The biotechnology company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.07. The firm had revenue of $163.58 million during the quarter, compared to the consensus estimate of $131.23 million. OPKO Health had a negative return on equity of 5.88% and a negative net margin of 12.40%.The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period last year, the company earned ($0.19) earnings per share. On average, analysts expect that OPKO Health, Inc. will post -0.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Comerica Bank lifted its position in OPKO Health by 7.1% in the fourth quarter. Comerica Bank now owns 120,000 shares of the biotechnology company’s stock valued at $151,000 after purchasing an additional 8,000 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of OPKO Health by 4.7% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 198,148 shares of the biotechnology company’s stock worth $262,000 after buying an additional 8,954 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of OPKO Health by 11.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 138,643 shares of the biotechnology company’s stock valued at $183,000 after buying an additional 13,912 shares during the period. Intech Investment Management LLC boosted its stake in shares of OPKO Health by 11.4% in the fourth quarter. Intech Investment Management LLC now owns 159,652 shares of the biotechnology company’s stock valued at $201,000 after buying an additional 16,329 shares in the last quarter. Finally, Two Sigma Securities LLC purchased a new stake in shares of OPKO Health in the second quarter valued at approximately $27,000. 64.63% of the stock is currently owned by institutional investors and hedge funds.

About OPKO Health

OPKO Health, Inc (NASDAQ:OPK) is a diversified, global healthcare company headquartered in Miami, Florida, with a focus on diagnostics, pharmaceuticals and biologics development. The company operates two main business segments—Laboratory Services and Pharma Services & Products—driven by its mission to advance patient care through innovation in testing and targeted therapies.

In its Laboratory Services segment, OPKO leverages BioReference Laboratories, one of the largest full-service commercial labs in the United States.