OPKO Health (NASDAQ:OPK) Trading 4.7% Higher - Should You Buy?

OPKO Health, Inc. (NASDAQ:OPK - Get Free Report)'s stock price shot up 4.7% during mid-day trading on Tuesday . The company traded as high as $1.58 and last traded at $1.57. 2,248,888 shares changed hands during trading, a decline of 68% from the average session volume of 7,105,205 shares. The stock had previously closed at $1.50.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on OPK. StockNews.com raised shares of OPKO Health to a "sell" rating in a research note on Saturday, July 27th. HC Wainwright reaffirmed a "buy" rating and issued a $3.00 price objective on shares of OPKO Health in a research note on Thursday, September 26th. Piper Sandler reaffirmed an "overweight" rating and issued a $3.00 price objective on shares of OPKO Health in a research note on Tuesday, September 17th. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $2.25 price objective on shares of OPKO Health in a research note on Friday, September 20th.

OPKO Health Price Performance

The stock's 50-day moving average price is $1.54 and its 200 day moving average price is $1.41. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -4.57 and a beta of 1.63. The company has a quick ratio of 1.36, a current ratio of 1.63 and a debt-to-equity ratio of 0.13.

OPKO Health (NASDAQ:OPK - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.08. OPKO Health had a negative net margin of 33.79% and a negative return on equity of 17.67%. The firm had revenue of $182.20 million during the quarter, compared to analyst estimates of $184.70 million. During the same quarter in the prior year, the business posted ($0.03) earnings per share. The company's quarterly revenue was down 31.3% compared to the same quarter last year. Equities research analysts predict that OPKO Health, Inc. will post -0.29 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Opko Health, Inc. sold 50,000 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $34.49, for a total value of $1,724,500.00. Following the completion of the transaction, the insider now owns 2,646,972 shares of the company's stock, valued at $91,294,064.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 351,444 shares of company stock valued at $11,611,127 over the last quarter. Corporate insiders own 47.26% of the company's stock.

Institutional Trading of OPKO Health

Several hedge funds have recently modified their holdings of OPK. Hennion & Walsh Asset Management Inc. grew its stake in shares of OPKO Health by 11.4% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 776,020 shares of the biotechnology company's stock valued at $931,000 after purchasing an additional 79,525 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in shares of OPKO Health by 5.9% during the first quarter. Commonwealth Equity Services LLC now owns 437,276 shares of the biotechnology company's stock valued at $525,000 after purchasing an additional 24,350 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in OPKO Health by 23.7% in the first quarter. BNP Paribas Financial Markets now owns 336,315 shares of the biotechnology company's stock valued at $404,000 after acquiring an additional 64,443 shares during the last quarter. Headlands Technologies LLC bought a new position in OPKO Health in the first quarter valued at approximately $47,000. Finally, Lazard Asset Management LLC bought a new position in OPKO Health in the first quarter valued at approximately $258,000. 64.63% of the stock is owned by institutional investors.

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.