OPKO Health (NASDAQ:OPK) Stock Passes Below 50-Day Moving Average – Here’s Why

OPKO Health, Inc. (NASDAQ:OPK) crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $1.34 and traded as low as $1.25. OPKO Health shares last traded at $1.26, with a volume of 4,948,836 shares trading hands.

Analysts Set New Price Targets

Several analysts have weighed in on OPK shares. Jefferies Financial Group reissued a “hold” rating and issued a $1.60 target price (down previously from $2.00) on shares of OPKO Health in a report on Thursday, October 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of OPKO Health in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of OPKO Health from a “sell” rating to a “hold” rating in a report on Sunday, December 21st. JPMorgan Chase & Co. began coverage on shares of OPKO Health in a report on Thursday, November 20th. They issued a “neutral” rating on the stock. Finally, Barrington Research reiterated an “outperform” rating and issued a $2.25 price target on shares of OPKO Health in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, OPKO Health has a consensus rating of “Hold” and a consensus target price of $2.28.

OPKO Health Stock Performance

The stock has a market cap of $974.98 million, a price-to-earnings ratio of -5.08 and a beta of 1.39. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.70 and a quick ratio of 3.32. The stock’s 50-day moving average is $1.34 and its 200-day moving average is $1.37.

OPKO Health (NASDAQ:OPK) last issued its quarterly earnings results on Wednesday, October 29th. The biotechnology company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.05. OPKO Health had a negative return on equity of 13.67% and a negative net margin of 28.10%.The company had revenue of $151.67 million for the quarter, compared to analyst estimates of $165.74 million. During the same quarter in the prior year, the company posted $0.03 EPS. The business’s revenue for the quarter was down 12.6% compared to the same quarter last year. Analysts anticipate that OPKO Health, Inc. will post -0.25 EPS for the current fiscal year.

Insider Transactions at OPKO Health

In other OPKO Health news, CEO Phillip Md Et Al Frost purchased 580,000 shares of the stock in a transaction on Friday, November 21st. The stock was bought at an average price of $1.33 per share, for a total transaction of $771,400.00. Following the acquisition, the chief executive officer directly owned 216,706,448 shares of the company’s stock, valued at $288,219,575.84. This represents a 0.27% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Over the last quarter, insiders bought 1,843,300 shares of company stock valued at $2,421,491. 49.69% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Swiss Life Asset Management Ltd acquired a new stake in shares of OPKO Health in the third quarter worth $30,000. CIBC Bancorp USA Inc. purchased a new stake in OPKO Health during the 3rd quarter worth $68,000. Verition Fund Management LLC increased its holdings in OPKO Health by 57.0% in the 3rd quarter. Verition Fund Management LLC now owns 79,534 shares of the biotechnology company’s stock valued at $123,000 after purchasing an additional 28,884 shares in the last quarter. SIH Partners LLLP raised its position in OPKO Health by 116.3% in the third quarter. SIH Partners LLLP now owns 150,125 shares of the biotechnology company’s stock valued at $233,000 after purchasing an additional 80,706 shares during the period. Finally, Mercer Global Advisors Inc. ADV raised its position in OPKO Health by 97.0% in the third quarter. Mercer Global Advisors Inc. ADV now owns 77,886 shares of the biotechnology company’s stock valued at $121,000 after purchasing an additional 38,352 shares during the period. Hedge funds and other institutional investors own 64.63% of the company’s stock.

About OPKO Health

OPKO Health, Inc (NASDAQ:OPK) is a diversified, global healthcare company headquartered in Miami, Florida, with a focus on diagnostics, pharmaceuticals and biologics development. The company operates two main business segments—Laboratory Services and Pharma Services & Products—driven by its mission to advance patient care through innovation in testing and targeted therapies.

In its Laboratory Services segment, OPKO leverages BioReference Laboratories, one of the largest full-service commercial labs in the United States.