Millennium Management LLC Boosts Stock Holdings in OPKO Health, Inc. (NASDAQ:OPK)

Millennium Management LLC boosted its stake in shares of OPKO Health, Inc. (NASDAQ:OPK - Free Report) by 85.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,588,526 shares of the biotechnology company's stock after purchasing an additional 2,112,382 shares during the period. Millennium Management LLC owned about 0.67% of OPKO Health worth $6,745,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Cibc World Markets Corp purchased a new stake in shares of OPKO Health in the fourth quarter worth $45,000. Zacks Investment Management purchased a new stake in shares of OPKO Health in the fourth quarter worth $49,000. Ieq Capital LLC purchased a new stake in shares of OPKO Health in the fourth quarter worth $52,000. Mercer Global Advisors Inc. ADV increased its stake 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 worth $63,000 after purchasing an additional 22,167 shares in the last quarter. Finally, Catalyst Funds Management Pty Ltd bought a new position in shares of OPKO Health during the fourth quarter worth $91,000. Institutional investors own 64.63% of the company's stock.

OPKO Health Trading Up 1.1%

OPK stock traded up $0.02 during trading on Friday, hitting $1.38. The company had a trading volume of 3,973,125 shares, compared to its average volume of 3,875,156. The firm has a market capitalization of $1.09 billion, a P/E ratio of -7.24 and a beta of 1.42. OPKO Health, Inc. has a 52-week low of $1.19 and a 52-week high of $2.04. The company has a 50 day simple moving average of $1.41 and a 200-day simple moving average of $1.54. The company has a quick ratio of 2.69, a current ratio of 2.97 and a debt-to-equity ratio of 0.30.

OPKO Health (NASDAQ:OPK - Get Free Report) last posted its earnings results on Wednesday, April 30th. The biotechnology company reported ($0.10) EPS for the quarter, missing analysts' consensus estimates 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 business had revenue of $149.90 million for the quarter, compared to analysts' expectations of $163.13 million. During the same period last year, the business posted ($0.12) EPS. The company's revenue for the quarter was down 13.7% on a year-over-year basis. As a group, research analysts forecast that OPKO Health, Inc. will post -0.25 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Phillip Md Et Al Frost bought 150,000 shares of the stock in a transaction that occurred on Friday, March 28th. The stock was bought at an average cost of $1.70 per share, for a total transaction of $255,000.00. Following the purchase, the chief executive officer now directly owns 213,651,448 shares of the company's stock, valued at approximately $363,207,461.60. This trade represents a 0.07% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have bought 700,000 shares of company stock worth $1,123,000. Corporate insiders own 49.69% of the company's stock.

Analysts Set New Price Targets

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

OPKO Health Company Profile

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.