Nuveen LLC Acquires New Holdings in OPKO Health, Inc. $OPK

Key Points

• Nuveen LLC has acquired a new stake in OPKO Health, purchasing 1,376,881 shares valued at approximately $2.29 million, thereby holding 0.17% of the company.
• CEO Phillip Frost purchased 675,000 shares at $1.32 each, increasing his ownership by 0.32% to a total of 214,676,448 shares valued at around $283 million.
• OPKO Health reported a loss of $0.19 per share for the last quarter, missing analysts' expectations and showing a revenue drop of 13.9% year-over-year.

Nuveen LLC acquired a new stake in OPKO Health, Inc. (NASDAQ:OPK - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,376,881 shares of the biotechnology company's stock, valued at approximately $2,286,000. Nuveen LLC owned 0.17% of OPKO Health at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in OPKO Health by 1.0% in the first quarter. Vanguard Group Inc. now owns 29,500,071 shares of the biotechnology company's stock valued at $48,970,000 after acquiring an additional 293,740 shares during the period. Millennium Management LLC boosted its stake in shares of OPKO Health by 85.3% in the 4th quarter. Millennium Management LLC now owns 4,588,526 shares of the biotechnology company's stock valued at $6,745,000 after purchasing an additional 2,112,382 shares in the last quarter. Northern Trust Corp grew its holdings in shares of OPKO Health by 4.7% in the 4th quarter. Northern Trust Corp now owns 3,697,774 shares of the biotechnology company's stock worth $5,436,000 after purchasing an additional 164,847 shares during the last quarter. Lazard Asset Management LLC increased its position in shares of OPKO Health by 143.6% during the 4th quarter. Lazard Asset Management LLC now owns 2,548,667 shares of the biotechnology company's stock worth $3,746,000 after purchasing an additional 1,502,342 shares in the last quarter. Finally, Y.D. More Investments Ltd lifted its holdings in OPKO Health by 27.0% during the 1st quarter. Y.D. More Investments Ltd now owns 1,772,947 shares of the biotechnology company's stock valued at $2,971,000 after purchasing an additional 377,179 shares during the last quarter. Institutional investors own 64.63% of the company's stock.

Insider Activity

In other news, CEO Phillip Md Et Al Frost acquired 675,000 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was acquired at an average price of $1.32 per share, for a total transaction of $891,000.00. Following the transaction, the chief executive officer directly owned 214,676,448 shares in the company, valued at approximately $283,372,911.36. This represents a 0.32% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 49.69% of the stock is owned by company insiders.

OPKO Health Stock Performance

OPK remained flat at $1.38 during midday trading on Thursday. The company's stock had a trading volume of 1,542,293 shares, compared to its average volume of 2,040,370. The firm has a market cap of $1.10 billion, a PE ratio of -5.52 and a beta of 1.40. OPKO Health, Inc. has a 12-month low of $1.11 and a 12-month high of $2.04. The company's 50 day simple moving average is $1.35 and its 200-day simple moving average is $1.44. The company has a quick ratio of 3.02, a current ratio of 3.41 and a debt-to-equity ratio of 0.25.

OPKO Health (NASDAQ:OPK - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The biotechnology company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.07). OPKO Health had a negative net margin of 26.68% and a negative return on equity of 13.17%. The firm had revenue of $156.80 million for the quarter, compared to analyst estimates of $165.74 million. During the same quarter in the prior year, the firm posted ($0.01) EPS. The firm's revenue for the quarter was down 13.9% compared to the same quarter last year. On average, research analysts anticipate that OPKO Health, Inc. will post -0.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

OPK has been the topic of several research analyst reports. LADENBURG THALM/SH SH raised shares of OPKO Health to a "strong-buy" rating in a research note on Tuesday, July 8th. Zacks Research upgraded OPKO Health from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, OPKO Health has an average rating of "Moderate Buy" and a consensus target price 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.