OPKO Health (NASDAQ:OPK) Announces Earnings Results, Beats Estimates By $0.08 EPS

OPKO Health (NASDAQ:OPK) released its quarterly earnings data on Wednesday. The biotechnology company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.08, Briefing.com reports. OPKO Health had a negative net margin of 31.44% and a negative return on equity of 17.89%. The business had revenue of $182.20 million during the quarter, compared to analyst estimates of $184.70 million. During the same period in the previous year, the business earned ($0.03) EPS. OPKO Health’s revenue was down 31.3% compared to the same quarter last year.

OPKO Health Price Performance

Shares of NASDAQ OPK traded up $0.07 during midday trading on Friday, reaching $1.50. The stock had a trading volume of 6,310,086 shares, compared to its average volume of 8,581,900. The stock has a 50-day moving average of $1.34 and a 200-day moving average of $1.21. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.62 and a current ratio of 1.91. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -4.29 and a beta of 1.65. OPKO Health has a 12-month low of $0.85 and a 12-month high of $1.95.

Insider Buying and Selling

In other OPKO Health news, CEO Phillip Md Et Al Frost acquired 100,000 shares of the stock in a transaction on Thursday, May 23rd. The stock was acquired at an average price of $1.27 per share, for a total transaction of $127,000.00. Following the completion of the transaction, the chief executive officer now directly owns 211,232,222 shares of the company’s stock, valued at $268,264,921.94. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other OPKO Health news, CEO Phillip Md Et Al Frost bought 100,000 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were acquired at an average price of $1.27 per share, with a total value of $127,000.00. Following the transaction, the chief executive officer now owns 211,232,222 shares of the company’s stock, valued at approximately $268,264,921.94. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Opko Health, Inc. sold 88,839 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $33.50, for a total transaction of $2,976,106.50. Following the transaction, the insider now directly owns 2,984,564 shares in the company, valued at approximately $99,982,894. The disclosure for this sale can be found here. Over the last quarter, insiders sold 587,033 shares of company stock worth $18,802,488. 47.26% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on OPK. Piper Sandler decreased their target price on shares of OPKO Health from $5.00 to $3.00 and set an “overweight” rating on the stock in a research report on Thursday, July 18th. HC Wainwright reiterated a “buy” rating and set a $3.00 price target on shares of OPKO Health in a research report on Wednesday, May 8th. Barrington Research boosted their price target on shares of OPKO Health from $1.50 to $2.25 and gave the company an “outperform” rating in a research report on Thursday. Finally, StockNews.com raised shares of OPKO Health to a “sell” rating in a research note on Saturday, July 27th.

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.