OPKO Health (NASDAQ:OPK) Sees Unusually-High Trading Volume on Insider Buying Activity

OPKO Health, Inc. (NASDAQ:OPK) shares saw strong trading volume on Wednesday following insider buying activity. 3,744,040 shares traded hands during trading, a decline of 8% from the previous session’s volume of 4,068,860 shares.The stock last traded at $1.67 and had previously closed at $1.66.

Specifically, CEO Phillip Md Et Al Frost bought 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was acquired at an average cost of $1.65 per share, for a total transaction of $165,000.00. Following the purchase, the chief executive officer now owns 213,751,448 shares of the company’s stock, valued at approximately $352,689,889.20. This trade represents a 0.05 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Phillip Md Et Al Frost purchased 150,000 shares of the stock in a transaction on Friday, March 28th. The shares were acquired at an average cost of $1.70 per share, for a total transaction of $255,000.00. Following the transaction, the chief executive officer now owns 213,651,448 shares of the company’s stock, valued at approximately $363,207,461.60. The trade was a 0.07 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Analysts Set New Price Targets

Several research analysts have recently commented on OPK shares. StockNews.com upgraded OPKO Health from a “sell” rating to a “hold” rating in a research note on Monday, March 3rd. HC Wainwright reaffirmed a “buy” rating and set a $3.00 price objective on shares of OPKO Health in a research report on Wednesday, March 19th. Finally, Barrington Research reissued an “outperform” rating and issued a $2.25 price objective on shares of OPKO Health in a research report on Wednesday, March 12th.

OPKO Health Stock Up 0.3 %

The company has a market cap of $1.12 billion, a price-to-earnings ratio of -8.76 and a beta of 1.70. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.97 and a quick ratio of 2.69. The firm has a 50-day moving average price of $1.69 and a 200 day moving average price of $1.58.

OPKO Health (NASDAQ:OPK) last issued its quarterly earnings data on Thursday, February 27th. The biotechnology company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.09. OPKO Health had a negative return on equity of 9.76% and a negative net margin of 18.65%. The firm had revenue of $183.60 million for the quarter, compared to analyst estimates of $155.42 million. Sell-side analysts predict that OPKO Health, Inc. will post -0.25 EPS for the current year.

Hedge Funds Weigh In On OPKO Health

Hedge funds have recently bought and sold shares of the business. Millennium Management LLC grew its position in shares of OPKO Health by 85.3% during the 4th quarter. Millennium Management LLC now owns 4,588,526 shares of the biotechnology company’s stock worth $6,745,000 after purchasing an additional 2,112,382 shares in the last quarter. Lazard Asset Management LLC increased its stake in OPKO Health by 143.6% during the 4th quarter. Lazard Asset Management LLC now owns 2,548,667 shares of the biotechnology company’s stock worth $3,746,000 after acquiring an additional 1,502,342 shares during the period. Altshuler Shaham Ltd bought a new position in OPKO Health during the 4th quarter worth $2,082,000. Norges Bank bought a new stake in shares of OPKO Health during the 4th quarter valued at $1,657,000. Finally, Two Sigma Investments LP grew its holdings in shares of OPKO Health by 136.1% during the 4th quarter. Two Sigma Investments LP now owns 1,647,567 shares of the biotechnology company’s stock worth $2,422,000 after purchasing an additional 949,671 shares in the last quarter. 64.63% of the stock is owned by institutional investors.

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.