OPKO Health (NASDAQ:OPK) Shares Pass Above 50-Day Moving Average - Should You Sell?

Key Points

• OPKO Health shares climbed above their 50-day moving average, reaching $1.68 and last trading at $1.67 versus the $1.42 average, on volume of about 5.34 million shares.
• Analyst sentiment is mixed: the stock has one Buy, three Hold, and one Sell rating, producing an overall “Hold” consensus and a $1.55 average price target.
• OPKO beat quarterly expectations, reporting an adjusted loss of $0.01 per share versus the projected $0.08 loss and revenue of $163.58 million versus $131.23 million expected. However, the company remains unprofitable, with a negative 12.4% net margin.

Shares of OPKO Health, Inc. (NASDAQ:OPK - Get Free Report) passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $1.42 and traded as high as $1.68. OPKO Health shares last traded at $1.67, with a volume of 5,342,993 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on OPK. Wall Street Zen raised OPKO Health from a "sell" rating to a "hold" rating in a research note on Saturday, June 6th. Weiss Ratings reiterated a "sell (d-)" rating on shares of OPKO Health in a research note on Thursday, August 13th. Finally, HC Wainwright reiterated a "buy" rating on shares of OPKO Health in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $1.55.

OPKO Health Price Performance

The firm has a market capitalization of $1.25 billion, a P/E ratio of -18.56 and a beta of 1.50. The business has a 50-day moving average of $1.42 and a 200 day moving average of $1.32. The company has a current ratio of 3.35, a quick ratio of 2.93 and a debt-to-equity ratio of 0.28.

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

Institutional Trading of OPKO Health

Several institutional investors and hedge funds have recently modified their holdings of the stock. Two Sigma Securities LLC purchased a new position in shares of OPKO Health during the second quarter valued at approximately $27,000. Apella Capital LLC purchased a new stake in OPKO Health in the 1st quarter valued at $34,000. Diversify Advisory Services LLC bought a new position in OPKO Health during the 2nd quarter valued at $37,000. Abel Hall LLC purchased a new position in OPKO Health during the 1st quarter worth $38,000. Finally, EP Wealth Advisors LLC purchased a new position in OPKO Health during the 2nd quarter worth $45,000. 64.63% of the stock is owned by hedge funds and other institutional investors.

About OPKO Health

OPKO Health, Inc is a healthcare company focused on diagnostics and pharmaceuticals. Its diagnostics business includes BioReference Laboratories, which provides clinical laboratory testing and specialty diagnostic services in the United States, and the 4Kscore test, a blood-based test designed to help assess the risk of aggressive prostate cancer.

OPKO's pharmaceutical activities include products and development programs in areas such as endocrinology, nephrology, and other specialty-care markets.

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