Geode Capital Management LLC Raises Position in Opko Health, Inc. (OPK)
Geode Capital Management LLC boosted its position in shares of Opko Health, Inc. (NASDAQ:OPK) by 7.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,889,059 shares of the biotechnology company’s stock after buying an additional 210,736 shares during the period. Geode Capital Management LLC owned about 0.52% of Opko Health worth $23,111,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of OPK. IFC Holdings Incorporated FL raised its position in shares of Opko Health by 15.9% in the first quarter. IFC Holdings Incorporated FL now owns 15,339 shares of the biotechnology company’s stock worth $122,000 after buying an additional 2,100 shares during the period. RK Asset Management LLC raised its position in shares of Opko Health by 0.4% in the first quarter. RK Asset Management LLC now owns 887,719 shares of the biotechnology company’s stock worth $7,102,000 after buying an additional 3,300 shares during the period. Capstone Asset Management Co. raised its position in shares of Opko Health by 8.6% in the first quarter. Capstone Asset Management Co. now owns 17,646 shares of the biotechnology company’s stock worth $141,000 after buying an additional 1,400 shares during the period. Bank of Montreal Can raised its position in shares of Opko Health by 1.4% in the first quarter. Bank of Montreal Can now owns 1,044,576 shares of the biotechnology company’s stock worth $8,357,000 after buying an additional 14,559 shares during the period. Finally, Teachers Advisors LLC raised its position in shares of Opko Health by 6.1% in the fourth quarter. Teachers Advisors LLC now owns 393,469 shares of the biotechnology company’s stock worth $3,659,000 after buying an additional 22,750 shares during the period. Hedge funds and other institutional investors own 23.65% of the company’s stock.
Shares of Opko Health, Inc. (OPK) traded up 0.81% during mid-day trading on Friday, reaching $6.20. The company had a trading volume of 4,107,604 shares. The firm’s 50-day moving average is $6.48 and its 200 day moving average is $7.40. The company’s market capitalization is $3.47 billion. Opko Health, Inc. has a 12 month low of $5.99 and a 12 month high of $12.15.
Opko Health (NASDAQ:OPK) last released its quarterly earnings data on Tuesday, May 9th. The biotechnology company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by $0.02. Opko Health had a negative net margin of 3.60% and a negative return on equity of 2.13%. The firm had revenue of $296.10 million during the quarter, compared to analysts’ expectations of $313.36 million. During the same quarter in the previous year, the firm posted ($0.02) EPS. Opko Health’s revenue was up 1.8% compared to the same quarter last year. On average, equities research analysts predict that Opko Health, Inc. will post ($0.20) earnings per share for the current year.
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OPK has been the subject of several research analyst reports. BidaskClub raised Opko Health from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Ladenburg Thalmann Financial Services reissued a “buy” rating and set a $19.50 price target on shares of Opko Health in a research report on Friday, June 16th. Jefferies Group LLC reissued a “hold” rating and set a $8.00 price target on shares of Opko Health in a research report on Thursday, July 27th. Zacks Investment Research raised Opko Health from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, Barrington Research upped their target price on Opko Health to $11.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $14.72.
In other news, CEO Phillip Md Et Al Frost bought 1,125,000 shares of the company’s stock in a transaction dated Wednesday, May 10th. The shares were purchased at an average price of $6.96 per share, for a total transaction of $7,830,000.00. Following the completion of the purchase, the chief executive officer now owns 3,068,951 shares in the company, valued at approximately $21,359,898.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John A. Paganelli acquired 5,000 shares of the stock in a transaction that occurred on Thursday, June 1st. The shares were bought at an average price of $6.17 per share, for a total transaction of $30,850.00. Following the transaction, the director now owns 350,340 shares of the company’s stock, valued at $2,161,597.80. The disclosure for this purchase can be found here. Insiders have purchased 2,856,000 shares of company stock worth $18,990,617 in the last three months. 40.19% of the stock is currently owned by insiders.
About Opko Health
OPKO Health, Inc is a healthcare company. Its segments include Pharmaceutical, Diagnostics and Corporate. Pharmaceutical consists of the pharmaceutical operations in Chile, Mexico, Ireland, Israel and Spain and its pharmaceutical research and development operations. Diagnostics consists of the clinical laboratory operations in Bio-Reference Laboratories (Bio-Reference) and its point-of-care operations.
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