$329.46 Million in Sales Expected for Opko Health, Inc. (OPK) This Quarter
Equities research analysts expect Opko Health, Inc. (NASDAQ:OPK) to report $329.46 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Opko Health’s earnings. The highest sales estimate is $346.09 million and the lowest is $310.60 million. Opko Health reported sales of $298.00 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 10.6%. The company is scheduled to announce its next quarterly earnings results on Monday, November 6th.
On average, analysts expect that Opko Health will report full-year sales of $329.46 million for the current year, with estimates ranging from $1.23 billion to $1.27 billion. For the next financial year, analysts forecast that the company will post sales of $1.39 billion per share, with estimates ranging from $1.34 billion to $1.46 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Opko Health.
Opko Health (NASDAQ:OPK) last issued its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The business had revenue of $314.20 million during the quarter, compared to the consensus estimate of $322.64 million. Opko Health had a negative net margin of 6.52% and a negative return on equity of 3.67%. The company’s revenue was down 12.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.02 earnings per share.
OPK has been the topic of a number of recent research reports. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating and set a $19.50 price target on shares of Opko Health in a research report on Tuesday, June 6th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $8.00 price target on shares of Opko Health in a report on Monday, June 12th. BidaskClub raised shares of Opko Health from a “strong sell” rating to a “sell” rating in a report on Thursday, June 22nd. Zacks Investment Research raised shares of Opko Health from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, Barrington Research boosted their target price on shares of Opko Health to $11.00 and gave the company an “outperform” rating in a research note on Tuesday, July 18th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $13.97.
In other news, CEO Phillip Md Et Al Frost bought 21,800 shares of Opko Health stock in a transaction that occurred on Tuesday, June 27th. The stock was purchased at an average cost of $6.77 per share, with a total value of $147,586.00. Following the completion of the transaction, the chief executive officer now directly owns 3,068,951 shares in the company, valued at $20,776,798.27. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have acquired 1,105,000 shares of company stock worth $6,809,495. Corporate insiders own 40.19% of the company’s stock.
A number of hedge funds have recently made changes to their positions in OPK. Credit Suisse AG boosted its holdings in Opko Health by 122.0% during the first quarter. Credit Suisse AG now owns 746,958 shares of the biotechnology company’s stock worth $5,976,000 after buying an additional 410,445 shares during the last quarter. State Street Corp lifted its holdings in shares of Opko Health by 40.3% during the 1st quarter. State Street Corp now owns 10,926,560 shares of the biotechnology company’s stock valued at $87,412,000 after purchasing an additional 3,138,685 shares in the last quarter. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD lifted its holdings in shares of Opko Health by 14.8% during the 2nd quarter. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD now owns 135,401 shares of the biotechnology company’s stock valued at $910,000 after purchasing an additional 17,458 shares in the last quarter. Skandinaviska Enskilda Banken AB publ bought a new position in shares of Opko Health during the 1st quarter valued at about $4,450,000. Finally, State Board of Administration of Florida Retirement System lifted its holdings in shares of Opko Health by 7.5% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 400,278 shares of the biotechnology company’s stock valued at $2,634,000 after purchasing an additional 27,940 shares in the last quarter. Hedge funds and other institutional investors own 22.46% of the company’s stock.
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About Opko Health
OPKO Health, Inc is a healthcare company. Its segments include Pharmaceutical, Diagnostics and Corporate. Pharmaceutical consists of the pharmaceutical operations in Chile, Mexico, Ireland, Israel and Spain and its pharmaceutical research and development operations. Diagnostics consists of the clinical laboratory operations in Bio-Reference Laboratories (Bio-Reference) and its point-of-care operations.
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