OPKO Health (NASDAQ:OPK) Reaches New 52-Week High - Should You Buy?

OPKO Health, Inc. (NASDAQ:OPK - Get Free Report)'s share price reached a new 52-week high on Thursday . The company traded as high as $2.04 and last traded at $1.94, with a volume of 15826287 shares trading hands. The stock had previously closed at $1.92.

Wall Street Analyst Weigh In

OPK has been the topic of a number of analyst reports. StockNews.com upgraded OPKO Health from a "sell" rating to a "hold" rating in a research note on Monday, March 3rd. Barrington Research restated an "outperform" rating and issued a $2.25 price target on shares of OPKO Health in a research note on Friday, February 28th. Finally, HC Wainwright reiterated a "buy" rating and set a $3.00 target price on shares of OPKO Health in a research report on Monday, March 3rd.

OPKO Health Price Performance

The stock has a 50-day moving average price of $1.59 and a 200 day moving average price of $1.56. 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 firm has a market cap of $1.28 billion, a price-to-earnings ratio of -10.00 and a beta of 1.70.

OPKO Health (NASDAQ:OPK - Get Free Report) last posted its earnings results on Thursday, February 27th. The biotechnology company reported $0.01 EPS for the quarter, topping analysts' consensus estimates of ($0.08) by $0.09. The business 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, equities research analysts forecast that OPKO Health, Inc. will post -0.25 earnings per share for the current fiscal year.

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Insider Activity at OPKO Health

In related news, CEO Phillip Md Et Al Frost purchased 500,000 shares of the company's stock in a transaction that occurred on Wednesday, December 11th. The shares were purchased at an average price of $1.56 per share, for a total transaction of $780,000.00. Following the transaction, the chief executive officer now directly owns 212,411,477 shares of the company's stock, valued at approximately $331,361,904.12. The trade was a 0.24 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have purchased 1,389,971 shares of company stock worth $2,124,442 in the last quarter. Company insiders own 47.26% of the company's stock.

Hedge Funds Weigh In On OPKO Health

Institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in OPKO Health by 4.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 186,783 shares of the biotechnology company's stock valued at $275,000 after purchasing an additional 8,064 shares in the last quarter. Two Sigma Advisers LP boosted its holdings in OPKO Health by 2.3% in the 4th quarter. Two Sigma Advisers LP now owns 381,197 shares of the biotechnology company's stock valued at $560,000 after purchasing an additional 8,396 shares in the last quarter. FMR LLC boosted its holdings in OPKO Health by 103.6% in the 3rd quarter. FMR LLC now owns 21,795 shares of the biotechnology company's stock valued at $32,000 after purchasing an additional 11,089 shares in the last quarter. Comerica Bank boosted its holdings in OPKO Health by 18.2% in the 4th quarter. Comerica Bank now owns 106,369 shares of the biotechnology company's stock valued at $156,000 after purchasing an additional 16,369 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in OPKO Health by 4.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 455,521 shares of the biotechnology company's stock valued at $670,000 after purchasing an additional 18,571 shares in the last quarter. Institutional investors and hedge funds own 64.63% of the company's stock.

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.