Opko Health Inc. (OPK) Stock Price Up 9.8% Following Insider Buying Activity
Shares of Opko Health Inc. (NYSE:OPK) rose 9.8% during mid-day trading on Monday following insider buying activity. The company traded as high as $10.45 and last traded at $10.38, with a volume of 7,227,684 shares traded. The stock had previously closed at $9.45.
Specifically, CEO Phillip Md Et Al Frost bought 48,400 shares of the business’s stock in a transaction on Thursday, August 25th. The shares were purchased at an average cost of $9.06 per share, with a total value of $438,504.00. Following the acquisition, the chief executive officer now owns 3,068,951 shares of the company’s stock, valued at $27,804,696.06. The purchase was disclosed in a filing with the SEC, which is available through this link.
A number of brokerages recently commented on OPK. JPMorgan Chase & Co. set a $14.00 target price on Opko Health and gave the company a “buy” rating in a research report on Tuesday, August 9th. Jefferies Group reaffirmed a “hold” rating on shares of Opko Health in a research report on Wednesday, August 17th. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Opko Health in a research report on Monday, October 10th. Zacks Investment Research raised Opko Health from a “sell” rating to a “hold” rating in a research report on Tuesday, October 25th. Finally, TheStreet lowered Opko Health from a “hold” rating to a “sell” rating in a research report on Wednesday, November 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. Opko Health presently has a consensus rating of “Hold” and an average target price of $13.17.
The stock’s 50-day moving average is $9.83 and its 200-day moving average is $9.86. The firm’s market capitalization is $5.79 billion.
Opko Health (NYSE:OPK) last released its earnings results on Monday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.03). The business had revenue of $298 million for the quarter, compared to analysts’ expectations of $322 million. During the same quarter in the previous year, the business posted $0.25 earnings per share. Opko Health’s revenue for the quarter was up 108.4% on a year-over-year basis. On average, equities research analysts anticipate that Opko Health Inc. will post ($0.06) EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the stock. Bridger Management LLC acquired a new position in Opko Health during the first quarter valued at about $13,863,000. First Trust Advisors LP raised its position in Opko Health by 164.8% in the second quarter. First Trust Advisors LP now owns 1,526,964 shares of the company’s stock valued at $14,262,000 after buying an additional 950,355 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its position in Opko Health by 90.7% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,897,107 shares of the company’s stock valued at $17,687,000 after buying an additional 902,185 shares during the last quarter. State Street Corp raised its position in Opko Health by 11.6% in the second quarter. State Street Corp now owns 7,454,724 shares of the company’s stock valued at $69,627,000 after buying an additional 773,867 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its position in Opko Health by 7.9% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 8,559,707 shares of the company’s stock valued at $90,647,000 after buying an additional 624,740 shares during the last quarter.
About Opko Health
OPKO Health, Inc (OPKO) is a healthcare company. The Company operates through two segments: diagnostics and pharmaceutical. The pharmaceutical segment consists of its pharmaceutical operations in Chile, Mexico, Ireland, Israel and Spain, and its pharmaceutical research and development operations. The diagnostics segment primarily consists of its clinical laboratory operations.
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