Norges Bank Makes New $1.66 Million Investment in OPKO Health, Inc. (NASDAQ:OPK)

Norges Bank bought a new position in shares of OPKO Health, Inc. (NASDAQ:OPK - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,127,468 shares of the biotechnology company's stock, valued at approximately $1,657,000. Norges Bank owned approximately 0.17% of OPKO Health as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in OPK. FMR LLC grew its stake in OPKO Health by 103.6% during the third quarter. FMR LLC now owns 21,795 shares of the biotechnology company's stock worth $32,000 after buying an additional 11,089 shares in the last quarter. Orion Portfolio Solutions LLC acquired a new stake in shares of OPKO Health during the 3rd quarter worth approximately $45,000. Cibc World Markets Corp bought a new position in OPKO Health in the fourth quarter valued at approximately $45,000. Ieq Capital LLC acquired a new position in OPKO Health during the fourth quarter valued at approximately $52,000. Finally, World Investment Advisors LLC bought a new stake in OPKO Health during the third quarter worth $61,000. 64.63% of the stock is owned by institutional investors.

OPKO Health Price Performance

OPK stock traded up $0.02 during midday trading on Tuesday, reaching $1.44. 2,513,154 shares of the stock were exchanged, compared to its average volume of 3,938,600. OPKO Health, Inc. has a 52 week low of $1.15 and a 52 week high of $2.04. The company has a fifty day moving average price of $1.68 and a 200 day moving average price of $1.58. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.97 and a quick ratio of 2.69. The stock has a market capitalization of $967.03 million, a PE ratio of -7.58 and a beta of 1.78.

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OPKO Health (NASDAQ:OPK - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The biotechnology company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.09. The company had revenue of $183.60 million for the quarter, compared to analysts' expectations of $155.42 million. OPKO Health had a negative return on equity of 9.76% and a negative net margin of 18.65%. As a group, analysts expect that OPKO Health, Inc. will post -0.25 EPS for the current fiscal year.

Insider Buying and Selling at OPKO Health

In other news, CEO Phillip Md Et Al Frost acquired 500,000 shares of the firm's stock in a transaction dated Wednesday, January 15th. The stock was bought at an average cost of $1.48 per share, for a total transaction of $740,000.00. Following the completion of the transaction, the chief executive officer now directly owns 213,036,477 shares in the company, valued at $315,293,985.96. This represents a 0.24 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders acquired 1,464,971 shares of company stock worth $2,268,692. 49.69% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on OPK shares. HC Wainwright reiterated a "buy" rating and issued a $3.00 price target on shares of OPKO Health in a research note on Monday, April 7th. Barrington Research reissued an "outperform" rating and set a $2.25 target price on shares of OPKO Health in a research note on Wednesday, March 12th. Finally, StockNews.com upgraded shares of OPKO Health from a "sell" rating to a "hold" rating in a research note on Monday, March 3rd.

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.