OPKO Health (NASDAQ:OPK) Issues Quarterly Earnings Results, Misses Expectations By $0.03 EPS

OPKO Health (NASDAQ:OPK) announced its earnings results on Tuesday. The biotechnology company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03), Briefing.com reports. The business had revenue of $173.70 million for the quarter, compared to analysts’ expectations of $182.99 million. OPKO Health had a negative net margin of 21.76% and a negative return on equity of 12.69%. The firm’s quarterly revenue was down 26.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.02) earnings per share.

OPKO Health Stock Performance

OPK stock opened at $1.20 on Wednesday. The firm has a 50-day simple moving average of $1.14 and a two-hundred day simple moving average of $1.22. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.22 and a current ratio of 1.55. OPKO Health has a one year low of $0.85 and a one year high of $2.24. The firm has a market cap of $832.90 million, a price-to-earnings ratio of -5.20 and a beta of 1.81.

Analyst Upgrades and Downgrades

OPK has been the topic of several analyst reports. StockNews.com downgraded shares of OPKO Health from a “hold” rating to a “sell” rating in a report on Friday, March 1st. Barrington Research restated an “outperform” rating and set a $1.50 target price on shares of OPKO Health in a research note on Monday, April 1st. HC Wainwright reiterated a “buy” rating and issued a $3.00 price target on shares of OPKO Health in a research note on Wednesday, April 3rd. Finally, Piper Sandler restated an “overweight” rating and issued a $5.00 price objective on shares of OPKO Health in a research report on Monday, April 1st.

Insider Buying and Selling at OPKO Health

In other OPKO Health news, CEO Phillip Md Et Al Frost bought 1,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were purchased at an average cost of $0.99 per share, for a total transaction of $990,000.00. Following the purchase, the chief executive officer now directly owns 208,368,225 shares in the company, valued at $206,284,542.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders bought a total of 3,100,000 shares of company stock worth $2,923,000 over the last three months. Corporate insiders own 47.26% of the company’s stock.

OPKO Health Company Profile

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.