OPKO Health (NASDAQ:OPK) Hits New 1-Year Low – Here’s What Happened

OPKO Health, Inc. (NASDAQ:OPK)’s stock price reached a new 52-week low during trading on Monday . The company traded as low as $1.10 and last traded at $1.1150, with a volume of 773688 shares traded. The stock had previously closed at $1.12.

Analyst Upgrades and Downgrades

OPK has been the topic of several research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of OPKO Health in a report on Thursday, January 22nd. Wall Street Zen lowered OPKO Health from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Finally, Barrington Research reduced their price objective on OPKO Health from $2.25 to $1.50 and set an “outperform” rating for the company in a research report on Monday, March 2nd. One research 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 assigned a Sell rating to the company’s stock. According to MarketBeat, OPKO Health presently has an average rating of “Hold” and an average price target of $2.03.

OPKO Health Price Performance

The company has a market capitalization of $861.54 million, a P/E ratio of -3.78 and a beta of 1.50. The company has a debt-to-equity ratio of 0.26, a current ratio of 3.97 and a quick ratio of 3.52. The firm’s 50-day moving average is $1.21 and its 200-day moving average is $1.32.

OPKO Health (NASDAQ:OPK) last released its quarterly earnings results on Thursday, February 26th. The biotechnology company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.03. The business had revenue of $148.50 million for the quarter, compared to the consensus estimate of $139.76 million. OPKO Health had a negative net margin of 37.19% and a negative return on equity of 17.42%. The company’s quarterly revenue was down 19.1% on a year-over-year basis. During the same period last year, the firm earned $0.01 earnings per share. Analysts predict that OPKO Health, Inc. will post -0.25 EPS for the current fiscal year.

Hedge Funds Weigh In On OPKO Health

A number of hedge funds have recently modified their holdings of the company. Geode Capital Management LLC boosted its holdings in OPKO Health by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 11,061,318 shares of the biotechnology company’s stock worth $13,940,000 after buying an additional 67,973 shares during the period. Millennium Management LLC grew its position in OPKO Health by 39.2% in the first quarter. Millennium Management LLC now owns 6,386,911 shares of the biotechnology company’s stock worth $10,602,000 after acquiring an additional 1,798,385 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of OPKO Health by 150.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 5,986,913 shares of the biotechnology company’s stock worth $7,544,000 after purchasing an additional 3,600,378 shares during the period. UBS Group AG raised its position in OPKO Health by 12.1% in the 4th quarter. UBS Group AG now owns 5,352,784 shares of the biotechnology company’s stock worth $6,745,000 after purchasing an additional 577,248 shares during the period. Finally, AWM Investment Company Inc. lifted its stake in OPKO Health by 8.1% in the second quarter. AWM Investment Company Inc. now owns 2,000,000 shares of the biotechnology company’s stock worth $2,640,000 after purchasing an additional 150,000 shares during the last quarter. 64.63% of the stock is currently owned by institutional investors.

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.