OPKO Health (NASDAQ:OPK) Sets 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 mid-day trading on Friday following a weaker than expected earnings announcement. The company traded as low as $1.14 and last traded at $1.13, with a volume of 1420395 shares trading hands. The stock had previously closed at $1.28.

The biotechnology company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.07). The business had revenue of $156.80 million for the quarter, compared to analyst estimates of $165.74 million. OPKO Health had a negative return on equity of 13.17% and a negative net margin of 26.68%. The business's revenue was down 13.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.01) EPS.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On OPKO Health

Institutional investors and hedge funds have recently bought and sold shares of the stock. Oak Thistle LLC bought a new position in OPKO Health in the 1st quarter valued at about $26,000. GM Advisory Group LLC acquired a new stake in OPKO Health in the 1st quarter valued at about $33,000. Cerity Partners LLC acquired a new stake in OPKO Health in the 1st quarter valued at about $36,000. Kapitalo Investimentos Ltda acquired a new stake in OPKO Health in the 2nd quarter valued at about $41,000. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in OPKO Health by 75.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 28,908 shares of the biotechnology company's stock valued at $42,000 after buying an additional 12,417 shares in the last quarter. Institutional investors own 64.63% of the company's stock.

OPKO Health Stock Down 0.4%

The company has a quick ratio of 3.02, a current ratio of 3.41 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $1.00 billion, a PE ratio of -5.06 and a beta of 1.19. The business'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.