Opko Health (OPK) Shares Up 10.6%

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Shares of Opko Health Inc. (NASDAQ:OPK) shot up 10.6% during trading on Thursday . The company traded as high as $2.72 and last traded at $2.72. 10,782,012 shares changed hands during mid-day trading, an increase of 93% from the average session volume of 5,588,401 shares. The stock had previously closed at $2.46.

A number of brokerages have commented on OPK. Zacks Investment Research cut Opko Health from a “hold” rating to a “sell” rating in a research report on Friday, March 8th. Barrington Research restated a “buy” rating and issued a $5.00 price target on shares of Opko Health in a research report on Thursday, February 28th. Finally, ValuEngine upgraded Opko Health from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $9.67.

The company has a market cap of $1.51 billion, a P/E ratio of -10.88 and a beta of 1.88. 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 announced its quarterly earnings results on Wednesday, February 27th. The biotechnology company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. Opko Health had a negative return on equity of 7.69% and a negative net margin of 15.46%. The company had revenue of $221.90 million during the quarter, compared to analyst estimates of $242.05 million. On average, equities analysts anticipate that Opko Health Inc. will post -0.2 EPS for the current fiscal year.

In other news, Vice Chairman Jane Ph D. Hsiao purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 31st. The stock was bought at an average cost of $7.96 per share, with a total value of $79,600.00. Following the completion of the purchase, the insider now owns 24,455,147 shares in the company, valued at $194,662,970.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Phillip Md Et Al Frost acquired 100,000 shares of the stock in a transaction dated Friday, December 28th. The stock was bought at an average cost of $3.13 per share, with a total value of $313,000.00. Following the completion of the purchase, the chief executive officer now directly owns 3,068,951 shares in the company, valued at $9,605,816.63. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 1,198,000 shares of company stock valued at $3,460,380. 42.74% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. lifted its stake in shares of Opko Health by 1.4% in the 4th quarter. BlackRock Inc. now owns 30,276,662 shares of the biotechnology company’s stock valued at $91,133,000 after purchasing an additional 408,951 shares during the last quarter. Vanguard Group Inc lifted its stake in shares of Opko Health by 2.1% in the 3rd quarter. Vanguard Group Inc now owns 29,660,750 shares of the biotechnology company’s stock valued at $102,626,000 after purchasing an additional 614,442 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Opko Health by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 29,660,750 shares of the biotechnology company’s stock valued at $102,626,000 after purchasing an additional 614,442 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Opko Health by 25.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,440,784 shares of the biotechnology company’s stock valued at $15,363,000 after purchasing an additional 897,406 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Opko Health by 4.2% in the 4th quarter. Geode Capital Management LLC now owns 4,078,397 shares of the biotechnology company’s stock valued at $12,275,000 after purchasing an additional 165,517 shares during the last quarter. 22.57% of the stock is owned by institutional investors and hedge funds.

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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 Bio-Reference Laboratories, a clinical laboratory that offers laboratory testing services in the detection, diagnosis, evaluation, monitoring, and treatment of diseases.

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