OPKO Health (NASDAQ:OPK) Sets New 1-Year High - Here's Why

Key Points

• OPKO Health shares reached a new 52-week high of $1.73 during Thursday trading, while remaining above both its 50-day and 200-day moving averages.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $1.55; ratings include one Buy, three Holds, and one Sell.
• OPKO’s latest quarterly results exceeded expectations, with adjusted loss of $0.01 per share versus an expected $0.08 loss and revenue of $163.58 million, up 4.3% year over year.

OPKO Health, Inc. (NASDAQ:OPK - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $1.73 and last traded at $1.6650, with a volume of 242147 shares changing hands. The stock had previously closed at $1.69.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. HC Wainwright reiterated 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. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of OPKO Health in a research note on Thursday, August 13th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $1.55.

OPKO Health Stock Down 0.9%

The firm's 50-day simple moving average is $1.39 and its 200-day simple moving average is $1.29. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.93 and a current ratio of 3.35. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of -18.61 and a beta of 1.50.

OPKO Health (NASDAQ:OPK - Get Free Report) last released its earnings results on Monday, July 27th. The biotechnology company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.07. OPKO Health had a negative net margin of 12.40% and a negative return on equity of 5.88%. The business had revenue of $163.58 million during the quarter, compared to analysts' expectations of $131.23 million. During the same quarter last year, the company earned ($0.19) earnings per share. The firm's revenue was up 4.3% on a year-over-year basis. Sell-side analysts forecast that OPKO Health, Inc. will post -0.23 earnings per share for the current year.

Institutional Trading of OPKO Health

Institutional investors and hedge funds have recently modified their holdings of the company. Comerica Bank lifted its holdings 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of OPKO Health by 4.7% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 198,148 shares of the biotechnology company's stock valued at $262,000 after purchasing an additional 8,954 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of OPKO Health by 11.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 138,643 shares of the biotechnology company's stock valued at $183,000 after purchasing an additional 13,912 shares during the period. Intech Investment Management LLC raised its holdings in shares of OPKO Health by 11.4% in the 4th quarter. Intech Investment Management LLC now owns 159,652 shares of the biotechnology company's stock worth $201,000 after buying an additional 16,329 shares in the last quarter. Finally, Two Sigma Securities LLC acquired a new position in shares of OPKO Health in the 2nd quarter worth approximately $27,000. 64.63% of the stock is currently owned by institutional investors.

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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