Opko Health Inc. (NASDAQ:OPK) Expected to Post Quarterly Sales of $224.55 Million
Equities research analysts expect Opko Health Inc. (NASDAQ:OPK) to report sales of $224.55 million for the current quarter, according to Zacks. Two analysts have issued estimates for Opko Health’s earnings, with estimates ranging from $221.50 million to $227.60 million. Opko Health reported sales of $249.80 million during the same quarter last year, which would suggest a negative year over year growth rate of 10.1%. The company is expected to issue its next quarterly 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 year, with estimates ranging from $885.80 million to $900.60 million. For the next fiscal year, analysts expect that the firm will post sales of $953.90 million, with estimates ranging from $912.80 million to $995.00 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Opko Health.
Opko Health (NASDAQ:OPK) last announced its quarterly earnings data 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. Opko Health had a negative return on equity of 12.05% and a negative net margin of 26.55%. The firm had revenue of $226.40 million for the quarter, compared to analysts’ expectations of $225.07 million. During the same period last year, the firm earned ($0.01) earnings per share. The company’s revenue for the quarter was down 14.1% compared to the same quarter last year.
In other Opko Health news, Director Richard C. Pfenniger, Jr. bought 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were bought at an average cost 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 of the company’s stock, valued at $512,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Phillip Md Et Al Frost bought 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was acquired at an average cost of $2.12 per share, for a total transaction of $106,000.00. Following the completion of the purchase, the chief executive officer now directly 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. Insiders purchased 1,305,000 shares of company stock worth $2,615,500 over the last three months. 42.25% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of OPK. Norges Bank bought a new stake in shares of Opko Health in the fourth quarter worth about $9,207,000. Asymmetry Capital Management L.P. bought a new stake in shares of Opko Health in the second quarter worth about $3,974,000. Marshall Wace LLP grew its stake in shares of Opko Health by 3,541.3% in the first quarter. Marshall Wace LLP now owns 1,452,176 shares of the biotechnology company’s stock worth $3,099,000 after purchasing an additional 1,412,295 shares during the last quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management grew its stake in shares of Opko Health by 98.4% in the second quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management now owns 2,092,606 shares of the biotechnology company’s stock worth $5,106,000 after purchasing an additional 1,037,669 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Opko Health by 852.5% in the second quarter. JPMorgan Chase & Co. now owns 748,817 shares of the biotechnology company’s stock worth $1,662,000 after purchasing an additional 670,200 shares during the last quarter. 25.44% of the stock is currently owned by institutional investors.
Shares of NASDAQ:OPK traded up $0.03 on Friday, reaching $1.86. 2,492,014 shares of the company traded hands, compared to its average volume of 4,759,519. The business has a 50-day simple moving average of $2.12. Opko Health has a 52 week low of $1.73 and a 52 week high of $6.16. The stock has a market capitalization of $1.15 billion, a PE ratio of -7.44 and a beta of 2.15. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.10 and a quick ratio of 0.99.
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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