OPKO Health (NASDAQ:OPK) Sets New 52-Week High – Still a Buy?

OPKO Health, Inc. (NASDAQ:OPK) reached a new 52-week high during trading on Wednesday . The stock traded as high as $1.73 and last traded at $1.65, with a volume of 34529633 shares changing hands. The stock had previously closed at $1.24.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. HC Wainwright reiterated a “buy” rating on shares of OPKO Health in a research note on Wednesday. Weiss Ratings raised shares of OPKO Health from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, May 18th. Barrington Research lowered shares of OPKO Health from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 29th. Finally, Wall Street Zen raised shares of OPKO Health from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, OPKO Health has a consensus rating of “Hold” and an average price target of $1.55.

OPKO Health Trading Down 2.2%

The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.17 and a current ratio of 3.35. The stock has a market cap of $996.35 million, a P/E ratio of -14.83 and a beta of 1.48. The stock has a 50-day moving average price of $1.38 and a 200-day moving average price of $1.26.

OPKO Health (NASDAQ:OPK) last announced its earnings results on Monday, July 27th. The biotechnology company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.07. The company had revenue of $163.58 million during the quarter, compared to analyst estimates of $131.23 million. OPKO Health had a negative net margin of 12.40% and a negative return on equity of 5.88%. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.19) earnings per share. On average, equities research analysts expect that OPKO Health, Inc. will post -0.25 EPS for the current year.

Institutional Investors Weigh In On OPKO Health

Several institutional investors have recently bought and sold shares of the stock. Allied Private Wealth LLC bought a new stake in shares of OPKO Health in the second quarter worth about $129,000. Bank of America Corp DE increased its holdings in OPKO Health by 80.0% during the 1st quarter. Bank of America Corp DE now owns 1,141,849 shares of the biotechnology company’s stock valued at $1,302,000 after purchasing an additional 507,590 shares during the period. Renaissance Technologies LLC bought a new position in OPKO Health during the 1st quarter valued at approximately $125,000. State of Wyoming bought a new position in OPKO Health during the 1st quarter valued at approximately $190,000. Finally, First Trust Advisors LP purchased a new stake in OPKO Health in the 1st quarter worth approximately $570,000. 64.63% of the stock is currently owned by hedge funds and other institutional investors.

OPKO Health Company Profile

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.