OPKO Health (NASDAQ:OPK) Sets New 1-Year High on Better-Than-Expected Earnings

OPKO Health, Inc. (NASDAQ:OPK - Get Free Report) shares reached a new 52-week high during mid-day trading on Friday after the company announced better than expected quarterly earnings. The company traded as high as $1.84 and last traded at $1.73, with a volume of 1464045 shares traded. The stock had previously closed at $1.63.

The biotechnology company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.09. The company had revenue of $183.60 million during the quarter, compared to analyst estimates of $155.42 million. OPKO Health had a negative net margin of 18.65% and a negative return on equity of 9.76%.

Analysts Set New Price Targets

OPK has been the subject of a number of recent analyst reports. HC Wainwright restated a "buy" rating and set a $3.00 price objective on shares of OPKO Health in a report on Monday. Barrington Research reissued an "outperform" rating and set a $2.25 price objective on shares of OPKO Health in a report on Friday. Finally, StockNews.com upgraded shares of OPKO Health from a "sell" rating to a "hold" rating in a report on Monday.

Insiders Place Their Bets

In other news, CEO Phillip Md Et Al Frost purchased 67,434 shares of the company's stock in a transaction on Friday, February 28th. The shares were acquired at an average price of $1.71 per share, for a total transaction of $115,312.14. Following the purchase, the chief executive officer now owns 213,301,448 shares in the company, valued at $364,745,476.08. This trade represents a 0.03 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders have purchased 1,389,971 shares of company stock valued at $2,124,442. Insiders own 47.26% of the company's stock.

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Hedge Funds Weigh In On OPKO Health

Several hedge funds and other institutional investors have recently bought and sold shares of OPK. Private Advisor Group LLC grew its position in OPKO Health by 242.7% during the 3rd quarter. Private Advisor Group LLC now owns 35,301 shares of the biotechnology company's stock worth $53,000 after purchasing an additional 25,000 shares during the period. Ground Swell Capital LLC acquired a new stake in OPKO Health during the third quarter worth about $63,000. Intech Investment Management LLC purchased a new position in OPKO Health during the third quarter valued at approximately $190,000. Integrated Investment Consultants LLC acquired a new position in OPKO Health in the third quarter valued at approximately $233,000. Finally, FMR LLC boosted its position in OPKO Health by 103.6% in the 3rd quarter. FMR LLC now owns 21,795 shares of the biotechnology company's stock worth $32,000 after purchasing an additional 11,089 shares in the last quarter. Institutional investors and hedge funds own 64.63% of the company's stock.

OPKO Health Stock Up 9.7 %

The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.69 and a current ratio of 2.97. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of -10.11 and a beta of 1.63. The business's 50 day moving average price is $1.56 and its 200 day moving average price is $1.55.

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.