OPKO Health (NASDAQ:OPK) Releases Quarterly Earnings Results, Misses Estimates By $0.03 EPS

OPKO Health (NASDAQ:OPK) announced its quarterly earnings data on Tuesday. The biotechnology company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.03), Briefing.com reports. The firm had revenue of $173.70 million for the quarter, compared to analysts’ expectations of $182.99 million. OPKO Health had a negative net margin of 21.76% and a negative return on equity of 12.69%. The business’s quarterly revenue was down 26.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.02) EPS.

OPKO Health Stock Performance

NASDAQ:OPK opened at $1.30 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 1.55 and a debt-to-equity ratio of 0.15. The company has a market cap of $906.09 million, a P/E ratio of -5.20 and a beta of 1.81. OPKO Health has a fifty-two week low of $0.85 and a fifty-two week high of $2.24. The firm’s 50 day moving average is $1.14 and its two-hundred day moving average is $1.22.

Analysts Set New Price Targets

Several brokerages recently issued reports on OPK. HC Wainwright reissued a “buy” rating and set a $3.00 price objective on shares of OPKO Health in a research note on Wednesday, April 3rd. Barrington Research reissued an “outperform” rating and set a $1.50 price objective on shares of OPKO Health in a research note on Monday, April 1st. Piper Sandler reissued an “overweight” rating and set a $5.00 price objective on shares of OPKO Health in a research note on Monday, April 1st. Finally, StockNews.com downgraded shares of OPKO Health from a “hold” rating to a “sell” rating in a research note on Friday, March 1st.

Insiders Place Their Bets

In other OPKO Health news, CEO Phillip Md Et Al Frost acquired 500,000 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was bought at an average price of $0.87 per share, with a total value of $435,000.00. Following the completion of the transaction, the chief executive officer now directly owns 210,968,225 shares of the company’s stock, valued at $183,542,355.75. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have purchased a total of 3,100,000 shares of company stock valued at $2,923,000 over the last quarter. Company insiders own 47.26% of the company’s stock.

About OPKO Health

OPKO Health, Inc, a healthcare company, engages in the diagnostics and pharmaceuticals businesses in the United States, Ireland, Chile, Spain, Israel, Mexico, and internationally. The company's Diagnostics segment operates BioReference Laboratories that offers laboratory testing services for the detection, diagnosis, evaluation, monitoring, and treatment of diseases, including esoteric testing, molecular diagnostics, anatomical pathology, genetics, women's health, and correctional healthcare to physician offices, clinics, hospitals, employers, and governmental units; and 4Kscore prostate cancer test.