Bank of New York Mellon Corp Takes Position in OPKO Health, Inc. $OPK

Key Points

• Bank of New York Mellon purchased 1.33 million OPKO Health shares worth approximately $2.0 million, gaining a 0.18% stake. Institutional investors collectively own 64.63% of the company.
• Analyst sentiment is mixed, with one Buy, three Hold, and one Sell rating; the consensus rating is Hold with a $1.55 price target.
• OPKO reported better-than-expected quarterly results, including an adjusted loss of $0.01 per share versus estimates of $0.08 and revenue of $163.58 million, up 4.3% year over year.

Bank of New York Mellon Corp purchased a new position in OPKO Health, Inc. (NASDAQ:OPK - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 1,329,974 shares of the biotechnology company's stock, valued at approximately $1,995,000. Bank of New York Mellon Corp owned approximately 0.18% of OPKO Health at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of OPK. Cubist Systematic Strategies LLC boosted its position in shares of OPKO Health by 2,369.9% in the 1st quarter. Cubist Systematic Strategies LLC now owns 119,223 shares of the biotechnology company's stock worth $198,000 after purchasing an additional 114,396 shares in the last quarter. AQR Capital Management LLC increased its position in OPKO Health by 466.7% during the 1st quarter. AQR Capital Management LLC now owns 1,608,906 shares of the biotechnology company's stock valued at $2,671,000 after buying an additional 1,324,988 shares in the last quarter. Millennium Management LLC raised its stake in OPKO Health by 39.2% during the first quarter. Millennium Management LLC now owns 6,386,911 shares of the biotechnology company's stock valued at $10,602,000 after buying an additional 1,798,385 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in OPKO Health by 4.2% during the first quarter. Goldman Sachs Group Inc. now owns 4,001,214 shares of the biotechnology company's stock valued at $6,642,000 after buying an additional 161,394 shares during the last quarter. Finally, Caxton Associates LLP bought a new stake in OPKO Health in the first quarter worth $130,000. 64.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on OPK shares. Wall Street Zen upgraded OPKO Health from a "sell" rating to a "hold" rating in a report on Saturday, June 6th. HC Wainwright reiterated a "buy" rating on shares of OPKO Health in a research note on Wednesday, July 29th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of OPKO Health in a research report on Thursday, August 13th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $1.55.

OPKO Health Stock Performance

Shares of OPK opened at $1.59 on Wednesday. The company has a market cap of $1.19 billion, a price-to-earnings ratio of -17.67 and a beta of 1.50. The business's fifty day simple moving average is $1.40 and its two-hundred day simple moving average is $1.30. OPKO Health, Inc. has a 12 month low of $0.98 and a 12 month high of $1.73. The company has a current ratio of 3.35, a quick ratio of 2.93 and a debt-to-equity ratio of 0.28.

OPKO Health (NASDAQ:OPK - Get Free Report) last posted its quarterly earnings results on Monday, July 27th. The biotechnology company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.07. The firm had revenue of $163.58 million during the quarter, compared to analysts' expectations of $131.23 million. OPKO Health had a negative return on equity of 5.88% and a negative net margin of 12.40%.The company's revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.19) earnings per share. Research analysts anticipate that OPKO Health, Inc. will post -0.23 earnings per share for the current fiscal year.

OPKO Health Company Profile

OPKO Health, Inc NASDAQ: OPK is a diversified, global healthcare company headquartered in Miami, Florida, with a focus on diagnostics, pharmaceuticals and biologics development. The company operates two main business segments—Laboratory Services and Pharma Services & Products—driven by its mission to advance patient care through innovation in testing and targeted therapies.

In its Laboratory Services segment, OPKO leverages BioReference Laboratories, one of the largest full-service commercial labs in the United States.

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