OPKO Health (NASDAQ:OPK) Issues Quarterly Earnings Results, Beats Estimates By $0.08 EPS

OPKO Health (NASDAQ:OPK) posted its quarterly earnings results on Wednesday. The biotechnology company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.08, Briefing.com reports. OPKO Health had a negative return on equity of 17.89% and a negative net margin of 31.44%. The business had revenue of $182.20 million for the quarter, compared to the consensus estimate of $184.70 million. During the same quarter in the previous year, the business earned ($0.03) EPS. The company’s quarterly revenue was down 31.3% compared to the same quarter last year.

OPKO Health Price Performance

Shares of OPK traded up $0.07 on Friday, reaching $1.50. The stock had a trading volume of 6,310,086 shares, compared to its average volume of 8,581,900. OPKO Health has a twelve month low of $0.85 and a twelve month high of $1.95. The company has a quick ratio of 1.62, a current ratio of 1.91 and a debt-to-equity ratio of 0.27. The firm has a 50-day moving average of $1.34 and a 200 day moving average of $1.21. The firm has a market capitalization of $1.05 billion, a PE ratio of -4.29 and a beta of 1.65.

Analyst Upgrades and Downgrades

OPK has been the subject of a number of research analyst reports. StockNews.com raised OPKO Health to a “sell” rating in a report on Saturday, July 27th. HC Wainwright reiterated a “buy” rating and issued a $3.00 price objective on shares of OPKO Health in a research report on Wednesday, May 8th. Piper Sandler lowered their price target on OPKO Health from $5.00 to $3.00 and set an “overweight” rating for the company in a research report on Thursday, July 18th. Finally, Barrington Research increased their price objective on OPKO Health from $1.50 to $2.25 and gave the company an “outperform” rating in a research note on Thursday.

Insider Activity at OPKO Health

In other OPKO Health news, major shareholder Opko Health, Inc. sold 100,000 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $31.82, for a total transaction of $3,182,000.00. Following the transaction, the insider now owns 2,871,570 shares of the company’s stock, valued at approximately $91,373,357.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Phillip Md Et Al Frost purchased 163,997 shares of OPKO Health stock in a transaction dated Friday, May 17th. The shares were acquired at an average price of $1.29 per share, with a total value of $211,556.13. Following the completion of the transaction, the chief executive officer now owns 211,132,222 shares of the company’s stock, valued at approximately $272,360,566.38. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Opko Health, Inc. sold 100,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $31.82, for a total transaction of $3,182,000.00. Following the completion of the transaction, the insider now directly owns 2,871,570 shares in the company, valued at approximately $91,373,357.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 587,033 shares of company stock valued at $18,802,488. 47.26% of the stock is owned by corporate insiders.

About OPKO Health

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.