BlackRock Inc. Takes Position in OPKO Health, Inc. $OPK

Key Points

• BlackRock acquired 36.98 million shares of OPKO Health during the second quarter, valued at approximately $55.5 million and representing a 4.95% 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’s latest quarterly results exceeded expectations: revenue rose 4.3% year over year to $163.6 million, while adjusted loss per share of $0.01 beat the $0.08 consensus loss estimate.

BlackRock Inc. bought a new stake in shares of OPKO Health, Inc. (NASDAQ:OPK - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 36,978,893 shares of the biotechnology company's stock, valued at approximately $55,468,000. BlackRock Inc. owned about 4.95% of OPKO Health as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently modified their holdings of OPK. Deutsche Bank AG purchased a new stake in OPKO Health during the 2nd quarter valued at about $598,000. Bank of New York Mellon Corp purchased a new stake in shares of OPKO Health during the second quarter valued at approximately $1,995,000. State of Wyoming bought a new position in shares of OPKO Health in the second quarter worth approximately $175,000. Allied Private Wealth LLC bought a new position in shares of OPKO Health in the second quarter worth approximately $129,000. Finally, Bank of America Corp DE increased its stake in shares of OPKO Health by 80.0% in the first quarter. Bank of America Corp DE now owns 1,141,849 shares of the biotechnology company's stock worth $1,302,000 after buying an additional 507,590 shares during the period. Hedge funds and other institutional investors own 64.63% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. HC Wainwright restated a "buy" rating on shares of OPKO Health in a research report on Wednesday, July 29th. Weiss Ratings reiterated a "sell (d-)" rating on shares of OPKO Health in a report on Thursday, August 13th. Finally, Wall Street Zen raised OPKO Health from a "sell" rating to a "hold" rating in a research note on Saturday, June 6th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $1.55.

OPKO Health Trading Down 0.7%

NASDAQ:OPK opened at $1.47 on Tuesday. The company has a 50-day moving average price of $1.39 and a 200-day moving average price of $1.28. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of -16.33 and a beta of 1.51. 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, Inc. has a 12 month low of $0.98 and a 12 month high of $1.73.

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

About OPKO Health

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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