OPKO Health (NASDAQ:OPK) Sets New 1-Year Low – Time to Sell?

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on OPK shares. Wall Street Zen lowered OPKO Health from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Barrington Research lowered their price objective on shares of OPKO Health from $2.25 to $1.50 and set an “outperform” rating on the stock in a research report on Monday, March 2nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of OPKO Health in a research note on Thursday, January 22nd. One investment 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $2.03.

OPKO Health Price Performance

The company has a market cap of $838.77 million, a price-to-earnings ratio of -3.68 and a beta of 1.50. The company has a 50-day simple moving average of $1.22 and a 200-day simple moving average of $1.33. The company has a debt-to-equity ratio of 0.26, a quick ratio of 3.52 and a current ratio of 3.97.

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

Hedge Funds Weigh In On OPKO Health

Institutional investors and hedge funds have recently made changes to their positions in the stock. Comerica Bank lifted its stake in shares of OPKO Health by 7.1% in the fourth quarter. Comerica Bank now owns 120,000 shares of the biotechnology company’s stock valued at $151,000 after purchasing an additional 8,000 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in OPKO Health by 4.7% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 198,148 shares of the biotechnology company’s stock valued at $262,000 after buying an additional 8,954 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in OPKO Health by 11.2% in the second quarter. The Manufacturers Life Insurance Company now owns 138,643 shares of the biotechnology company’s stock valued at $183,000 after buying an additional 13,912 shares in the last quarter. Intech Investment Management LLC lifted its position in shares of OPKO Health by 11.4% during the 4th quarter. Intech Investment Management LLC now owns 159,652 shares of the biotechnology company’s stock valued at $201,000 after acquiring an additional 16,329 shares during the period. Finally, Caprock Group LLC purchased a new stake in shares of OPKO Health during the 3rd quarter worth approximately $26,000. 64.63% of the stock is owned by institutional investors and hedge funds.

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.