OPKO Health (NASDAQ:OPK) Releases Quarterly Earnings Results, Misses Expectations By $0.03 EPS

OPKO Health (NASDAQ:OPK) issued its quarterly earnings data on Tuesday. The biotechnology company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.03), Briefing.com reports. OPKO Health had a negative return on equity of 12.69% and a negative net margin of 21.76%. The firm had revenue of $173.70 million during the quarter, compared to the consensus estimate of $182.99 million. During the same period in the previous year, the firm earned ($0.02) EPS. The business’s revenue was down 26.9% on a year-over-year basis.

OPKO Health Price Performance

NASDAQ:OPK opened at $1.30 on Wednesday. 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 company has a market capitalization of $906.09 million, a P/E ratio of -5.20 and a beta of 1.81. OPKO Health has a 12 month low of $0.85 and a 12 month high of $2.24. The business’s 50-day moving average is $1.14 and its 200 day moving average is $1.22.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, CEO Phillip Md Et Al Frost purchased 500,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were bought at an average cost of $0.99 per share, for a total transaction of $495,000.00. Following the acquisition, the chief executive officer now owns 208,868,225 shares of the company’s stock, valued at approximately $206,779,542.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have purchased 3,100,000 shares of company stock valued at $2,923,000 over the last ninety days. 47.26% of the stock is owned by insiders.

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.