OPKO Health (NASDAQ:OPK) Sees Strong Trading Volume

OPKO Health, Inc. (NASDAQ:OPK – Get Rating) shares saw unusually-strong trading volume on Thursday . Approximately 186,537 shares were traded during trading, a decline of 92% from the previous session’s volume of 2,292,802 shares.The stock last traded at $2.33 and had previously closed at $2.44.

Wall Street Analyst Weigh In

Separately, Piper Sandler decreased their price objective on shares of OPKO Health from $5.00 to $4.00 and set an “overweight” rating for the company in a report on Friday.

OPKO Health Stock Performance

The company has a quick ratio of 2.12, a current ratio of 2.44 and a debt-to-equity ratio of 0.13. The stock’s 50 day simple moving average is $2.62 and its two-hundred day simple moving average is $3.00.

OPKO Health (NASDAQ:OPK – Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The biotechnology company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.12). OPKO Health had a negative net margin of 14.18% and a negative return on equity of 7.76%. The company had revenue of $309.90 million during the quarter, compared to the consensus estimate of $326.87 million. During the same period in the previous year, the firm posted ($0.03) EPS. The business’s quarterly revenue was down 30.0% compared to the same quarter last year. Analysts anticipate that OPKO Health, Inc. will post -0.22 earnings per share for the current year.

Insider Buying and Selling at OPKO Health

In other OPKO Health news, Vice Chairman Elias A. Zerhouni acquired 89,600 shares of the business’s stock in a transaction dated Tuesday, May 10th. The shares were acquired at an average price of $2.79 per share, with a total value of $249,984.00. Following the completion of the transaction, the insider now directly owns 89,600 shares in the company, valued at approximately $249,984. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other OPKO Health news, insider Gary J. Nabel acquired 240,000 shares of the business’s stock in a transaction dated Wednesday, June 22nd. The shares were acquired at an average price of $2.49 per share, with a total value of $597,600.00. Following the completion of the transaction, the insider now directly owns 19,857,514 shares in the company, valued at approximately $49,445,209.86. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Elias A. Zerhouni acquired 89,600 shares of the business’s stock in a transaction dated Tuesday, May 10th. The stock was acquired at an average cost of $2.79 per share, for a total transaction of $249,984.00. Following the transaction, the insider now owns 89,600 shares of the company’s stock, valued at $249,984. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 1,729,600 shares of company stock valued at $4,674,584. 40.97% of the stock is currently owned by corporate insiders.

Institutional Trading of OPKO Health

A number of institutional investors have recently made changes to their positions in OPK. Cornerstone Advisory LLC bought a new stake in OPKO Health during the fourth quarter worth $29,000. Aigen Investment Management LP bought a new stake in shares of OPKO Health in the 2nd quarter valued at about $29,000. Humankind Investments LLC bought a new stake in shares of OPKO Health in the 1st quarter valued at about $37,000. Guggenheim Capital LLC acquired a new stake in OPKO Health in the 1st quarter valued at about $38,000. Finally, Point72 Hong Kong Ltd bought a new position in OPKO Health during the first quarter worth about $39,000. Institutional investors own 27.83% of the company’s stock.

About OPKO Health

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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 a novel diagnostic instrument system to provide blood test results in the point-of-care setting, as well as 4Kscore prostate cancer testing services.