Bank of America Corp DE Buys 282,844 Shares of OPKO Health, Inc. (NASDAQ:OPK)

Bank of America Corp DE lifted its stake in shares of OPKO Health, Inc. (NASDAQ:OPK - Free Report) by 94.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 581,582 shares of the biotechnology company's stock after acquiring an additional 282,844 shares during the quarter. Bank of America Corp DE owned approximately 0.09% of OPKO Health worth $855,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of OPK. Cibc World Markets Corp purchased a new position in OPKO Health during the 4th quarter worth $45,000. Zacks Investment Management purchased a new position in shares of OPKO Health during the fourth quarter valued at $49,000. Ieq Capital LLC purchased a new position in shares of OPKO Health during the fourth quarter valued at $52,000. Mercer Global Advisors Inc. ADV raised its holdings in shares of OPKO Health by 105.6% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 43,167 shares of the biotechnology company's stock valued at $63,000 after acquiring an additional 22,167 shares in the last quarter. Finally, Catalyst Funds Management Pty Ltd purchased a new stake in OPKO Health in the fourth quarter worth about $91,000. Institutional investors own 64.63% of the company's stock.

OPKO Health Price Performance

NASDAQ OPK opened at $1.36 on Monday. The company has a market cap of $1.08 billion, a price-to-earnings ratio of -7.16 and a beta of 1.39. 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's fifty day moving average price is $1.38 and its 200 day moving average price is $1.53. OPKO Health, Inc. has a 1 year low of $1.19 and a 1 year high of $2.04.

OPKO Health (NASDAQ:OPK - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The biotechnology company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.03). OPKO Health had a negative net margin of 18.65% and a negative return on equity of 9.76%. The firm had revenue of $149.90 million for the quarter, compared to analysts' expectations of $163.13 million. During the same quarter in the previous year, the firm posted ($0.12) EPS. The firm's revenue for the quarter was down 13.7% compared to the same quarter last year. As a group, equities research analysts forecast that OPKO Health, Inc. will post -0.25 earnings per share for the current year.

Insider Activity

In related news, CEO Phillip Md Et Al Frost purchased 200,000 shares of OPKO Health stock in a transaction that occurred on Monday, March 17th. The stock was bought at an average cost of $1.74 per share, for a total transaction of $348,000.00. Following the completion of the transaction, the chief executive officer now owns 213,501,448 shares in the company, valued at $371,492,519.52. The trade was a 0.09% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have acquired 700,000 shares of company stock valued at $1,123,000 in the last ninety days. Insiders own 49.69% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. HC Wainwright restated a "buy" rating and issued a $3.00 price target on shares of OPKO Health in a report on Monday, April 7th. JPMorgan Chase & Co. initiated coverage on shares of OPKO Health in a research note on Friday, April 25th. They issued a "neutral" rating for the company. Wall Street Zen cut OPKO Health from a "hold" rating to a "sell" rating in a research report on Monday, May 5th. Finally, Barrington Research reiterated an "outperform" rating and issued a $2.25 price target on shares of OPKO Health in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $2.75.

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.

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