Wall Street brokerages expect Opko Health Inc. (NASDAQ:OPK) to post $224.55 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Opko Health’s earnings, with the highest sales estimate coming in at $227.60 million and the lowest estimate coming in at $221.50 million. Opko Health reported sales of $249.80 million in the same quarter last year, which indicates a negative year-over-year growth rate of 10.1%. The company is scheduled to report its next earnings report on Friday, November 8th.
According to Zacks, analysts expect that Opko Health will report full-year sales of $893.20 million for the current financial year, with estimates ranging from $885.80 million to $900.60 million. For the next fiscal year, analysts expect that the business will post sales of $953.90 million, with estimates ranging from $912.80 million to $995.00 million. Zacks’ sales averages are an average based on a survey of research firms that follow Opko Health.
Opko Health (NASDAQ:OPK) last announced its earnings results on Wednesday, August 7th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.01. The company had revenue of $226.40 million during the quarter, compared to analysts’ expectations of $225.07 million. Opko Health had a negative net margin of 26.55% and a negative return on equity of 12.17%. Opko Health’s quarterly revenue was down 14.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.01) earnings per share.
A number of equities research analysts have recently issued reports on OPK shares. ValuEngine raised shares of Opko Health from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Zacks Investment Research raised Opko Health from a “hold” rating to a “buy” rating and set a $2.75 price target for the company in a research note on Tuesday, April 30th.
Shares of Opko Health stock traded up $0.06 during trading on Friday, reaching $1.96. The company’s stock had a trading volume of 2,553,100 shares, compared to its average volume of 3,716,488. The business’s 50-day moving average price is $2.11 and its 200-day moving average price is $2.33. The firm has a market cap of $1.21 billion, a PE ratio of -7.84 and a beta of 2.15. Opko Health has a 52 week low of $1.73 and a 52 week high of $6.16. The company has a quick ratio of 0.99, a current ratio of 1.21 and a debt-to-equity ratio of 0.13.
In related news, Director Richard C. Pfenniger, Jr. purchased 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was acquired at an average price of $2.05 per share, with a total value of $61,500.00. Following the completion of the purchase, the director now directly owns 250,000 shares in the company, valued at $512,500. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Phillip Md Et Al Frost purchased 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was bought at an average cost of $2.12 per share, with a total value of $106,000.00. Following the purchase, the chief executive officer now owns 3,068,951 shares of the company’s stock, valued at $6,506,176.12. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 1,205,000 shares of company stock valued at $2,413,500. 42.25% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its stake in Opko Health by 0.7% during the 4th quarter. Bank of New York Mellon Corp now owns 1,661,535 shares of the biotechnology company’s stock worth $5,001,000 after buying an additional 10,880 shares during the period. Geode Capital Management LLC increased its stake in Opko Health by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 4,078,397 shares of the biotechnology company’s stock worth $12,275,000 after buying an additional 165,517 shares during the period. Two Sigma Advisers LP purchased a new stake in Opko Health during the 4th quarter worth $49,000. D. E. Shaw & Co. Inc. increased its position in shares of Opko Health by 20.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 24,165 shares of the biotechnology company’s stock worth $73,000 after purchasing an additional 4,104 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new stake in shares of Opko Health in the 4th quarter worth about $402,000. 25.44% of the stock is owned by institutional investors and hedge funds.
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 BioReference Laboratories, a clinical laboratory that offers laboratory testing services.
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