OPKO Health (NASDAQ:OPK) Trading Down 5.4% - Here's What Happened

Key Points

• OPKO Health shares fell 5.4% in mid-day trading to $1.325, with about 966,000 shares changing hands—68% below average volume.
• Analysts maintain a mixed outlook, resulting in a consensus “Hold” rating and an average price target of $1.55; one analyst rates the stock Buy, three Hold, and one Sell.
• OPKO’s latest quarterly results exceeded expectations: adjusted loss was $0.01 per share versus the expected $0.08 loss, while revenue reached $163.58 million, up 4.3% year over year.

OPKO Health, Inc. (NASDAQ:OPK - Get Free Report) traded down 5.4% during mid-day trading on Friday . The stock traded as low as $1.33 and last traded at $1.3250. Approximately 965,972 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 3,002,987 shares. The stock had previously closed at $1.40.

Analysts Set New Price Targets

A number of analysts have recently commented on OPK shares. HC Wainwright reissued a "buy" rating on shares of OPKO Health in a report on Wednesday, July 29th. Wall Street Zen raised OPKO Health from a "sell" rating to a "hold" rating in a research report on Saturday, June 6th. Weiss Ratings upgraded OPKO Health from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, May 18th. Finally, Barrington Research lowered OPKO Health from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $1.55.

OPKO Health Stock Down 4.6%

The firm has a market cap of $996.35 million, a P/E ratio of -14.83 and a beta of 1.51. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.35 and a quick ratio of 2.93. The company's 50-day simple moving average is $1.38 and its 200 day simple moving average is $1.27.

OPKO Health (NASDAQ:OPK - Get Free Report) last issued its quarterly earnings data on Monday, July 27th. The biotechnology company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.07. The company had revenue of $163.58 million for the quarter, compared to analysts' expectations of $131.23 million. OPKO Health had a negative return on equity of 5.88% and a negative net margin of 12.40%.The firm's revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.19) earnings per share. Research analysts anticipate that OPKO Health, Inc. will post -0.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. OP Asset Management Ltd bought a new position in OPKO Health in the 1st quarter worth about $1,257,000. First Trust Advisors LP purchased a new position in shares of OPKO Health in the 1st quarter valued at $570,000. UBS Group AG raised its holdings in OPKO Health by 12.1% in the fourth quarter. UBS Group AG now owns 5,352,784 shares of the biotechnology company's stock worth $6,745,000 after purchasing an additional 577,248 shares in the last quarter. Comerica Bank raised its stake in shares of OPKO Health by 7.1% during the 4th quarter. Comerica Bank now owns 120,000 shares of the biotechnology company's stock worth $151,000 after acquiring an additional 8,000 shares in the last quarter. Finally, State of Wyoming acquired a new position in shares of OPKO Health during the first quarter worth $190,000. Institutional investors own 64.63% of the company's stock.

About OPKO Health

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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