OPKO Health (NASDAQ:OPK) Shares Gap Down to $1.23

OPKO Health, Inc. (NASDAQ:OPK - Get Free Report)'s share price gapped down before the market opened on Friday . The stock had previously closed at $1.23, but opened at $1.20. OPKO Health shares last traded at $1.24, with a volume of 321,622 shares.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on OPK shares. StockNews.com cut shares of OPKO Health from a "hold" rating to a "sell" rating in a research report on Friday, March 1st. Barrington Research restated an "outperform" rating and set a $1.50 price objective on shares of OPKO Health in a research report on Monday, April 1st. Piper Sandler reaffirmed an "overweight" rating and issued a $5.00 target price on shares of OPKO Health in a report on Monday, April 1st. Finally, HC Wainwright reissued a "buy" rating and set a $3.00 price target on shares of OPKO Health in a report on Wednesday, April 3rd.

OPKO Health Stock Performance

The firm has a market capitalization of $857.30 million, a price-to-earnings ratio of -4.92 and a beta of 1.82. The company has a current ratio of 1.55, a quick ratio of 1.22 and a debt-to-equity ratio of 0.15. The stock's 50-day moving average is $1.08 and its 200-day moving average is $1.24.

OPKO Health (NASDAQ:OPK - Get Free Report) last posted its earnings results on Tuesday, February 27th. The biotechnology company reported ($0.09) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.09). OPKO Health had a negative net margin of 21.76% and a negative return on equity of 12.69%. The firm had revenue of $181.90 million for the quarter, compared to analysts' expectations of $177.53 million. During the same quarter in the previous year, the firm posted ($0.11) earnings per share. The company's revenue was down 1.9% on a year-over-year basis. On average, analysts predict that OPKO Health, Inc. will post -0.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other OPKO Health news, CEO Phillip Md Et Al Frost acquired 500,000 shares of the company's stock in a transaction that occurred on Monday, March 18th. The stock was acquired at an average price of $0.87 per share, for a total transaction of $435,000.00. Following the acquisition, the chief executive officer now directly owns 210,968,225 shares in the company, valued at $183,542,355.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Richard M. Krasno bought 30,000 shares of the business's stock in a transaction on Monday, January 29th. The shares were purchased at an average cost of $0.99 per share, with a total value of $29,700.00. Following the acquisition, the director now owns 103,333 shares of the company's stock, valued at $102,299.67. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO Phillip Md Et Al Frost purchased 500,000 shares of the firm's stock in a transaction dated Monday, March 18th. The stock was bought at an average cost of $0.87 per share, with a total value of $435,000.00. Following the purchase, the chief executive officer now owns 210,968,225 shares of the company's stock, valued at approximately $183,542,355.75. The disclosure for this purchase can be found here. Insiders bought a total of 4,630,000 shares of company stock valued at $4,422,700 in the last 90 days. Corporate insiders own 47.26% of the company's stock.

Hedge Funds Weigh In On OPKO Health

A number of hedge funds and other institutional investors have recently made changes to their positions in OPK. Hennion & Walsh Asset Management Inc. raised its stake in OPKO Health by 11.4% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 776,020 shares of the biotechnology company's stock worth $931,000 after buying an additional 79,525 shares during the last quarter. Moseley Investment Management Inc. bought a new position in shares of OPKO Health in the 1st quarter worth about $41,000. Vanguard Group Inc. lifted its stake in shares of OPKO Health by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 39,751,293 shares of the biotechnology company's stock valued at $60,024,000 after purchasing an additional 428,520 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of OPKO Health by 7.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 428,310 shares of the biotechnology company's stock valued at $647,000 after purchasing an additional 29,117 shares in the last quarter. Finally, Barclays PLC grew its stake in OPKO Health by 307.6% during the fourth quarter. Barclays PLC now owns 768,078 shares of the biotechnology company's stock worth $1,161,000 after purchasing an additional 579,657 shares during the period. 64.63% of the stock is owned by institutional investors and hedge funds.

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.