OPKO Health (NASDAQ:OPK) Shares Gap Up Following Insider Buying Activity

Key Points

• OPKO Health shares opened at $1.32 after gapping up from a previous close of $1.23, with a trading volume of over 1 million shares.
• Analysts have mixed views on OPKO Health; one upgraded to a "strong-buy" rating, while others range from "sell" to "outperform," with a consensus price target of $2.75.
• The company reported a quarterly revenue of $156.80 million, missing expectations and showing a 13.9% year-over-year decline.

OPKO Health, Inc. (NASDAQ:OPK - Get Free Report) gapped up prior to trading on Friday after an insider bought additional shares in the company. The stock had previously closed at $1.23, but opened at $1.32. OPKO Health shares last traded at $1.29, with a volume of 1,079,786 shares trading hands.

Specifically, CEO Phillip Md Et Al Frost purchased 675,000 shares of OPKO Health stock in a transaction dated Friday, August 8th. The stock was purchased at an average price of $1.32 per share, with a total value of $891,000.00. Following the transaction, the chief executive officer directly owned 214,676,448 shares of the company's stock, valued at $283,372,911.36. This trade represents a 0.32% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Analyst Ratings Changes

Several research firms have recently commented on OPK. LADENBURG THALM/SH SH raised shares of OPKO Health to a "strong-buy" rating in a research report on Tuesday, July 8th. Barrington Research reissued an "outperform" rating and issued a $2.25 target price on shares of OPKO Health in a report on Thursday, May 1st. Wall Street Zen lowered shares of OPKO Health from a "hold" rating to a "sell" rating in a report on Monday, May 5th. Finally, JPMorgan Chase & Co. assumed coverage on shares of OPKO Health in a report on Friday, April 25th. They issued a "neutral" rating for the company. 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 company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $2.75.

OPKO Health Stock Performance

The stock has a market cap of $1.04 billion, a P/E ratio of -5.22 and a beta of 1.19. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.41 and a quick ratio of 3.02. The firm's 50-day moving average price is $1.33 and its 200-day moving average price is $1.47.

OPKO Health (NASDAQ:OPK - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The biotechnology company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.07). The company had revenue of $156.80 million for the quarter, compared to the consensus estimate of $165.74 million. OPKO Health had a negative net margin of 26.68% and a negative return on equity of 13.17%. The company's quarterly revenue was down 13.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.01) EPS. Sell-side analysts expect that OPKO Health, Inc. will post -0.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On OPKO Health

Several institutional investors and hedge funds have recently modified their holdings of OPK. Oak Thistle LLC bought a new stake in shares of OPKO Health during the first quarter valued at approximately $26,000. GM Advisory Group LLC purchased a new position in shares of OPKO Health in the first quarter valued at $33,000. Cerity Partners LLC purchased a new position in shares of OPKO Health in the first quarter valued at $36,000. Kapitalo Investimentos Ltda purchased a new position in shares of OPKO Health in the second quarter valued at $41,000. Finally, Wealth Enhancement Advisory Services LLC boosted 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 worth $42,000 after buying an additional 12,417 shares during the period. Institutional investors own 64.63% of the company's stock.

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.