Renaissance Technologies LLC Decreases Stock Position in OPKO Health, Inc. (NASDAQ:OPK)

Renaissance Technologies LLC reduced its stake in shares of OPKO Health, Inc. (NASDAQ:OPK - Free Report) by 79.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 284,743 shares of the biotechnology company's stock after selling 1,093,453 shares during the period. Renaissance Technologies LLC's holdings in OPKO Health were worth $356,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of OPKO Health by 11.4% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 776,020 shares of the biotechnology company's stock worth $931,000 after acquiring an additional 79,525 shares during the last quarter. Moseley Investment Management Inc. bought a new position in shares of OPKO Health during the first quarter valued at about $41,000. Tidal Investments LLC bought a new position in shares of OPKO Health during the first quarter valued at about $239,000. Y.D. More Investments Ltd bought a new stake in shares of OPKO Health in the 2nd quarter valued at about $1,840,000. Finally, Comerica Bank boosted its holdings in OPKO Health by 125.0% during the 1st quarter. Comerica Bank now owns 90,000 shares of the biotechnology company's stock valued at $108,000 after acquiring an additional 50,000 shares during the period. 64.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other OPKO Health news, major shareholder Opko Health, Inc. sold 25,000 shares of the stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $32.29, for a total transaction of $807,250.00. Following the completion of the sale, the insider now directly owns 3,383,403 shares of the company's stock, valued at $109,250,082.87. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 636,444 shares of company stock worth $21,125,127 over the last ninety days. Corporate insiders own 47.26% of the company's stock.

OPKO Health Stock Performance

OPK stock traded down $0.01 during midday trading on Friday, reaching $1.46. 3,098,839 shares of the company's stock traded hands, compared to its average volume of 7,383,075. OPKO Health, Inc. has a 52-week low of $0.85 and a 52-week high of $1.75. The stock's 50-day moving average is $1.54 and its 200 day moving average is $1.39. The stock has a market cap of $1.02 billion, a P/E ratio of -4.17 and a beta of 1.63. The company has a current ratio of 1.63, a quick ratio of 1.36 and a debt-to-equity ratio of 0.13.

OPKO Health (NASDAQ:OPK - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported ($0.01) earnings per share for the quarter, beating 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 business had revenue of $182.20 million for the quarter, compared to the consensus estimate of $184.70 million. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. The company's revenue for the quarter was down 31.3% on a year-over-year basis. As a group, analysts anticipate that OPKO Health, Inc. will post -0.29 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on OPK. StockNews.com upgraded OPKO Health to a "sell" rating in a research report on Saturday, July 27th. Barrington Research restated an "outperform" rating and issued a $2.25 price objective on shares of OPKO Health in a report on Friday, September 20th. HC Wainwright restated a "buy" rating and issued a $3.00 target price on shares of OPKO Health in a research note on Thursday, September 26th. Finally, Piper Sandler reissued an "overweight" rating and set a $3.00 price target on shares of OPKO Health in a research report on Tuesday, September 17th.

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.