OPKO Health (NASDAQ:OPK) Stock Price Passes Above 50-Day Moving Average of $1.09

OPKO Health, Inc. (NASDAQ:OPK)’s stock price crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $1.09 and traded as high as $1.26. OPKO Health shares last traded at $1.26, with a volume of 1,947,276 shares changing hands.

Analyst Ratings Changes

Several research analysts have issued reports on OPK shares. Piper Sandler restated an “overweight” rating and set a $5.00 target price on shares of OPKO Health in a research report on Monday, April 1st. StockNews.com lowered OPKO Health from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. HC Wainwright reaffirmed a “buy” rating and issued a $3.00 price target on shares of OPKO Health in a research note on Wednesday, April 3rd. Finally, Barrington Research reissued an “outperform” rating and issued a $1.50 price objective on shares of OPKO Health in a research report on Monday, April 1st.

OPKO Health Stock Up 3.3 %

The company has a current ratio of 1.55, a quick ratio of 1.22 and a debt-to-equity ratio of 0.15. The business’s 50-day simple moving average is $1.10 and its 200 day simple moving average is $1.22. The firm has a market cap of $878.21 million, a PE ratio of -5.04 and a beta of 1.82.

OPKO Health (NASDAQ:OPK) last issued its quarterly earnings data on Tuesday, February 27th. The biotechnology company reported ($0.09) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.09). The company had revenue of $181.90 million for the quarter, compared to the consensus estimate of $177.53 million. OPKO Health had a negative return on equity of 12.69% and a negative net margin of 21.76%. The firm’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.11) earnings per share. As a group, equities research analysts expect that OPKO Health, Inc. will post -0.33 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Richard M. Krasno purchased 30,000 shares of the business’s stock in a transaction on Monday, January 29th. The shares were bought at an average cost of $0.99 per share, with a total value of $29,700.00. Following the transaction, the director now owns 103,333 shares of the company’s stock, valued at $102,299.67. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Richard M. Krasno acquired 30,000 shares of the business’s stock in a transaction on Monday, January 29th. The stock was bought at an average price of $0.99 per share, with a total value of $29,700.00. Following the completion of the acquisition, the director now owns 103,333 shares of the company’s stock, valued at $102,299.67. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Phillip Md Et Al Frost purchased 1,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was acquired at an average price of $0.99 per share, with a total value of $990,000.00. Following the purchase, the chief executive officer now owns 208,368,225 shares in the company, valued at $206,284,542.75. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 4,630,000 shares of company stock worth $4,422,700. 47.26% of the stock is owned by company insiders.

Hedge Funds Weigh In On OPKO Health

A number of large investors have recently added to or reduced their stakes in OPK. Charles Schwab Investment Management Inc. lifted its position in shares of OPKO Health by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,733,700 shares of the biotechnology company’s stock valued at $8,658,000 after acquiring an additional 183,754 shares in the last quarter. Invesco Ltd. lifted its holdings in OPKO Health by 300.4% in the 3rd quarter. Invesco Ltd. now owns 5,164,180 shares of the biotechnology company’s stock valued at $8,263,000 after purchasing an additional 3,874,519 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in OPKO Health by 30.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,419,957 shares of the biotechnology company’s stock worth $2,272,000 after purchasing an additional 327,836 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in OPKO Health by 107.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,253,808 shares of the biotechnology company’s stock worth $1,502,000 after purchasing an additional 648,569 shares during the last quarter. Finally, PFG Investments LLC purchased a new stake in shares of OPKO Health during the first quarter worth $1,125,000. 64.63% of the stock is currently owned by institutional investors and hedge funds.

About OPKO Health

OPKO Health, Inc, a healthcare company, engages in the diagnostics and pharmaceuticals businesses in the United States, Ireland, Chile, Spain, Israel, Mexico, and internationally. The company's Diagnostics segment operates BioReference Laboratories that offers laboratory testing services for the detection, diagnosis, evaluation, monitoring, and treatment of diseases, including esoteric testing, molecular diagnostics, anatomical pathology, genetics, women's health, and correctional healthcare to physician offices, clinics, hospitals, employers, and governmental units; and 4Kscore prostate cancer test.