OPKO Health (NASDAQ:OPK) Shares Gap Down After Earnings Miss

Shares of OPKO Health, Inc. (NASDAQ:OPK) gapped down prior to trading on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $1.38, but opened at $1.31. OPKO Health shares last traded at $1.36, with a volume of 1,160,743 shares.

The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.03). The company had revenue of $149.90 million during the quarter, compared to analysts’ expectations of $163.13 million. OPKO Health had a negative net margin of 18.65% and a negative return on equity of 9.76%. The company’s revenue was down 13.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.12) earnings per share.

Analyst Upgrades and Downgrades

OPK has been the subject of several research analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $3.00 price objective on shares of OPKO Health in a research report on Monday, April 7th. StockNews.com raised shares of OPKO Health from a “sell” rating to a “hold” rating in a report on Monday, March 3rd. JPMorgan Chase & Co. began coverage on shares of OPKO Health in a report on Friday, April 25th. They set a “neutral” rating on the stock. Finally, Barrington Research restated an “outperform” rating and issued a $2.25 target price on shares of OPKO Health in a research note on Thursday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $2.75.

Insider Buying and Selling at OPKO Health

In related news, CEO Phillip Md Et Al Frost bought 67,434 shares of the stock in a transaction dated Friday, February 28th. The shares were purchased at an average price of $1.71 per share, for a total transaction of $115,312.14. Following the completion of the purchase, the chief executive officer now directly owns 213,301,448 shares of the company’s stock, valued at $364,745,476.08. This represents a 0.03 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders acquired 767,434 shares of company stock worth $1,238,312. Company insiders own 49.69% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of OPK. Cerity Partners LLC purchased a new position in shares of OPKO Health during the 1st quarter valued at approximately $36,000. Pallas Capital Advisors LLC purchased a new position in shares of OPKO Health in the 1st quarter valued at about $43,000. Wealth Enhancement Advisory Services LLC raised its holdings in OPKO Health by 75.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 28,908 shares of the biotechnology company’s stock worth $42,000 after purchasing an additional 12,417 shares during the period. Cibc World Markets Corp purchased a new position in OPKO Health during the fourth quarter worth approximately $45,000. Finally, Zacks Investment Management purchased a new position in OPKO Health during the fourth quarter worth approximately $49,000. 64.63% of the stock is owned by institutional investors and hedge funds.

OPKO Health Stock Performance

The company has a market capitalization of $930.10 million, a price-to-earnings ratio of -7.29 and a beta of 1.42. The firm has a fifty day simple moving average of $1.61 and a 200 day simple moving average of $1.57. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.97 and a quick ratio of 2.69.

OPKO Health Company Profile

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.