Opko Health (NASDAQ:OPK) Cut to Sell at BidaskClub

BidaskClub lowered shares of Opko Health (NASDAQ:OPK) from a hold rating to a sell rating in a research note published on Wednesday morning, BidAskClub reports.

OPK has been the topic of several other research reports. ValuEngine upgraded shares of Opko Health from a sell rating to a hold rating in a research report on Thursday, August 1st. Barrington Research reiterated a buy rating and set a $4.00 price target on shares of Opko Health in a research report on Thursday, September 12th. Finally, Zacks Investment Research raised shares of Opko Health from a sell rating to a hold rating and set a $3.00 price objective on the stock in a research note on Monday, September 16th.

Shares of OPK stock traded down $0.07 during mid-day trading on Wednesday, reaching $2.10. The stock had a trading volume of 2,406,588 shares, compared to its average volume of 3,468,443. The stock’s 50-day moving average price is $2.03 and its two-hundred day moving average price is $2.11. Opko Health has a 52-week low of $1.73 and a 52-week high of $3.93. The firm has a market capitalization of $1.34 billion, a PE ratio of -8.38 and a beta of 2.22. The company has a current ratio of 1.21, a quick ratio of 1.04 and a debt-to-equity ratio of 0.13.

Opko Health (NASDAQ:OPK) last released its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. Opko Health had a negative net margin of 26.55% and a negative return on equity of 12.17%. The firm had revenue of $226.40 million for the quarter, compared to analysts’ expectations of $225.07 million. During the same quarter in the previous year, the company earned ($0.01) earnings per share. The company’s revenue for the quarter was down 14.1% compared to the same quarter last year. On average, equities research analysts forecast that Opko Health will post -0.41 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its position in Opko Health by 4.4% during the second quarter. BlackRock Inc. now owns 31,520,785 shares of the biotechnology company’s stock valued at $76,910,000 after purchasing an additional 1,330,639 shares during the period. Vanguard Group Inc. lifted its position in Opko Health by 2.7% during the second quarter. Vanguard Group Inc. now owns 30,467,543 shares of the biotechnology company’s stock valued at $74,341,000 after purchasing an additional 812,237 shares during the period. Northern Trust Corp lifted its position in Opko Health by 4.4% during the second quarter. Northern Trust Corp now owns 4,195,696 shares of the biotechnology company’s stock valued at $10,238,000 after purchasing an additional 175,185 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Opko Health by 5.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 2,387,816 shares of the biotechnology company’s stock valued at $5,827,000 after purchasing an additional 128,250 shares during the period. Finally, Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management lifted its position in Opko Health by 98.4% during the second quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management now owns 2,092,606 shares of the biotechnology company’s stock valued at $5,106,000 after purchasing an additional 1,037,669 shares during the period. Institutional investors own 24.54% of the company’s stock.

Opko Health Company Profile

OPKO Health, Inc, a healthcare company, engages in the diagnostics and pharmaceuticals business in the United States, Ireland, Chile, Spain, Israel, Mexico, and internationally. The company's Diagnostics segment operates BioReference Laboratories, a clinical laboratory that offers laboratory testing services.

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