OPKO Health (NASDAQ:OPK) Reaches New 52-Week Low on Disappointing Earnings

Key Points

• OPKO Health's stock reached a new 52-week low of $1.13 after reporting weaker than expected quarterly earnings, with a loss of $0.19 per share against an expected loss of $0.12.
• The company's revenue fell 13.9% year-over-year, totaling $156.8 million, which also missed analysts' estimates of $165.74 million.
• Research analysts have varied opinions on the stock, with ratings ranging from "strong buy" to "sell", leading to a consensus target price of $2.75.

OPKO Health, Inc. (NASDAQ:OPK - Get Free Report) reached a new 52-week low during trading on Friday after the company announced weaker than expected quarterly earnings. The company traded as low as $1.14 and last traded at $1.13, with a volume of 1420395 shares changing hands. The stock had previously closed at $1.28.

The biotechnology company reported ($0.19) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.07). The business had revenue of $156.80 million during the quarter, compared to the consensus estimate of $165.74 million. OPKO Health had a negative return on equity of 2.85% and a negative net margin of 5.66%. The company's revenue was down 13.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.01) earnings per share.

Analyst Upgrades and Downgrades

OPK has been the topic of a number of research analyst reports. HC Wainwright reissued a "buy" rating and set a $3.00 price objective on shares of OPKO Health in a research report on Monday, April 7th. JPMorgan Chase & Co. initiated coverage on shares of OPKO Health in a research report on Friday, April 25th. They set a "neutral" rating on the stock. Barrington Research reissued an "outperform" rating and set a $2.25 price objective on shares of OPKO Health in a research report on Thursday, May 1st. LADENBURG THALM/SH SH raised shares of OPKO Health to a "strong-buy" rating in a research report on Tuesday, July 8th. Finally, Wall Street Zen downgraded shares of OPKO Health from a "hold" rating to a "sell" rating in a research report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $2.75.

Institutional Trading of OPKO Health

Several institutional investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in OPKO Health by 4.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 186,783 shares of the biotechnology company's stock valued at $275,000 after acquiring an additional 8,064 shares during the period. Two Sigma Advisers LP lifted its stake in OPKO Health by 2.3% during the 4th quarter. Two Sigma Advisers LP now owns 381,197 shares of the biotechnology company's stock valued at $560,000 after acquiring an additional 8,396 shares during the period. Brighton Jones LLC lifted its stake in OPKO Health by 29.1% during the 2nd quarter. Brighton Jones LLC now owns 38,916 shares of the biotechnology company's stock valued at $51,000 after acquiring an additional 8,775 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in OPKO Health by 75.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 28,908 shares of the biotechnology company's stock valued at $42,000 after acquiring an additional 12,417 shares during the period. Finally, Oak Thistle LLC bought a new position in OPKO Health during the 1st quarter valued at about $26,000. 64.63% of the stock is owned by hedge funds and other institutional investors.

OPKO Health Stock Down 11.1%

The company has a current ratio of 2.49, a quick ratio of 2.28 and a debt-to-equity ratio of 0.25. The firm has a market cap of $902.49 million, a P/E ratio of -16.21 and a beta of 1.34. The company's 50 day simple moving average is $1.34 and its 200-day simple moving average is $1.48.

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.

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