OPKO Health (NASDAQ:OPK) Issues Earnings Results

Key Points

• OPKO Health beat quarterly expectations, reporting an adjusted loss of $0.01 per share versus the projected $0.08 loss. Revenue reached $163.58 million, well above analysts’ $131.23 million estimate, though the company remained unprofitable.
• Shares traded around $1.24, within a 52-week range of $0.98 to $1.61. The stock carries an average analyst rating of “Reduce” and a consensus price target of $1.55.
• Institutional ownership stands at 64.63%, with several hedge funds increasing their positions during the first quarter, including Millennium Management and AQR Capital Management.

OPKO Health (NASDAQ:OPK - Get Free Report) announced its quarterly earnings results on Monday. The biotechnology company reported ($0.01) EPS for the quarter, topping analysts' consensus estimates of ($0.08) by $0.07, FiscalAI reports. The firm had revenue of $163.58 million during the quarter, compared to analysts' expectations of $131.23 million. OPKO Health had a negative net margin of 36.63% and a negative return on equity of 16.78%.

OPKO Health Price Performance

Shares of NASDAQ OPK traded up $0.02 during mid-day trading on Monday, hitting $1.24. 2,913,345 shares of the stock were exchanged, compared to its average volume of 2,750,700. OPKO Health has a twelve month low of $0.98 and a twelve month high of $1.61. The stock's fifty day simple moving average is $1.37 and its two-hundred day simple moving average is $1.26. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.17 and a current ratio of 3.61. The company has a market cap of $936.31 million, a P/E ratio of -4.59 and a beta of 1.48.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Barrington Research lowered OPKO Health from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 29th. Wall Street Zen upgraded OPKO Health from a "sell" rating to a "hold" rating in a research note on Saturday, June 6th. Finally, Weiss Ratings raised OPKO Health from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, May 18th. Four equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and an average target price of $1.55.

Institutional Investors Weigh In On OPKO Health

A number of hedge funds and other institutional investors have recently bought and sold shares of OPK. Cubist Systematic Strategies LLC boosted its stake in OPKO Health by 2,369.9% in the first 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 raised its holdings in shares of OPKO Health by 466.7% in the first 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 during the last quarter. Millennium Management LLC lifted its position in OPKO Health by 39.2% during the 1st quarter. Millennium Management LLC now owns 6,386,911 shares of the biotechnology company's stock worth $10,602,000 after buying an additional 1,798,385 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in OPKO Health by 4.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,001,214 shares of the biotechnology company's stock worth $6,642,000 after acquiring an additional 161,394 shares during the last quarter. Finally, Caxton Associates LLP acquired a new stake in OPKO Health in the 1st quarter valued at about $130,000. 64.63% of the stock is owned by institutional investors and hedge funds.

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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