Opko Health (OPK) Rating Increased to Hold at Zacks Investment Research

Opko Health (NASDAQ:OPK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

According to Zacks, “OPKO Health exited the fourth quarter on a mixed note, with adjusted loss per share, narrower than expected and revenues missing estimates. The company has gained significantly from RAYALDEE contribution in the quarter. Also, OPKO Health’s utilization of the 4Kscore remains strong, with nearly 20,000 tests registered in the fourth quarter. OPKO Health announced that the FDA has approved the company’s point-of-care Sangia Total PSA Test using the Claros 1 Analyzer. Several metabolic and endocrinology programs that are underway should provide OPKO Health a competitive advantage. On the flip side, OPKO Health’s operating margins look pressed at the moment. Also, the company faces cutthroat competition in the MedTech space. Moreover, the decline in R&D expenses indicates reduced focus on innovation. Sluggishness in the Product revenue segment is an added headwind. The stock underperformed its industry in a year's time.”

A number of other equities research analysts have also weighed in on OPK. ValuEngine upgraded shares of Opko Health from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Barrington Research restated a “buy” rating and issued a $5.00 price objective on shares of Opko Health in a report on Thursday, February 28th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Opko Health presently has an average rating of “Buy” and a consensus target price of $9.67.

OPK stock opened at $2.46 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.10 and a quick ratio of 0.96. Opko Health has a one year low of $2.34 and a one year high of $6.40. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of -9.84 and a beta of 1.88.

Opko Health (NASDAQ:OPK) last released its quarterly earnings results on Wednesday, February 27th. The biotechnology company reported ($0.08) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.01. Opko Health had a negative net margin of 15.46% and a negative return on equity of 7.69%. The business had revenue of $221.90 million during the quarter, compared to analysts’ expectations of $242.05 million. As a group, equities research analysts forecast that Opko Health will post -0.2 earnings per share for the current fiscal year.

In other Opko Health news, CEO Phillip Md Et Al Frost acquired 10,000 shares of the stock in a transaction dated Wednesday, January 9th. The stock was purchased at an average cost of $3.65 per share, for a total transaction of $36,500.00. Following the acquisition, the chief executive officer now owns 3,068,951 shares in the company, valued at approximately $11,201,671.15. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders bought 1,198,000 shares of company stock valued at $3,460,380. Company insiders own 42.74% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Diversified Trust Co bought a new stake in Opko Health during the 4th quarter valued at $30,000. FDx Advisors Inc. bought a new position in Opko Health in the 4th quarter worth $33,000. Douglas Lane & Associates LLC bought a new position in Opko Health in the 4th quarter worth $42,000. Kovack Advisors Inc. bought a new position in Opko Health in the 4th quarter worth $48,000. Finally, Two Sigma Advisers LP bought a new position in Opko Health in the 4th quarter worth $49,000. Institutional investors own 22.57% of the company’s stock.

About Opko Health

OPKO Health, Inc, a healthcare company, engages in the diagnostics and pharmaceuticals business in the United States, Ireland, Chile, Spain, Israel, Mexico, and internationally. The company's Diagnostics segment operates Bio-Reference Laboratories, a clinical laboratory that offers laboratory testing services in the detection, diagnosis, evaluation, monitoring, and treatment of diseases.

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