Opko Health Inc. (OPK) Expected to Post Quarterly Sales of $260.62 Million

Wall Street analysts forecast that Opko Health Inc. (NASDAQ:OPK) will report sales of $260.62 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Opko Health’s earnings, with estimates ranging from $252.30 million to $269.90 million. Opko Health reported sales of $263.50 million during the same quarter last year, which indicates a negative year-over-year growth rate of 1.1%. The company is scheduled to report its next earnings report on Wednesday, November 14th.

According to Zacks, analysts expect that Opko Health will report full-year sales of $1.03 billion for the current year, with estimates ranging from $1.01 billion to $1.05 billion. For the next year, analysts expect that the company will post sales of $1.09 billion per share, with estimates ranging from $1.03 billion to $1.13 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Opko Health.

Opko Health (NASDAQ:OPK) last issued its earnings results on Tuesday, August 7th. The biotechnology company reported ($0.01) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.06. The company had revenue of $263.69 million during the quarter, compared to the consensus estimate of $260.37 million. Opko Health had a negative return on equity of 9.32% and a negative net margin of 31.73%.

OPK has been the subject of several research reports. ValuEngine upgraded Opko Health from a “sell” rating to a “hold” rating in a research note on Saturday, June 2nd. Cantor Fitzgerald restated a “buy” rating and issued a $20.00 target price on shares of Opko Health in a research note on Tuesday, May 8th. BidaskClub upgraded Opko Health from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 10th. Barrington Research restated a “buy” rating and issued a $7.00 target price on shares of Opko Health in a research note on Wednesday, May 9th. Finally, Zacks Investment Research upgraded Opko Health from a “sell” rating to a “hold” rating and set a $4.75 target price for the company in a research note on Wednesday, May 9th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $10.95.

In other Opko Health news, CEO Phillip Md Et Al Frost bought 10,000 shares of the business’s stock in a transaction dated Thursday, August 9th. The shares were purchased at an average price of $5.45 per share, for a total transaction of $54,500.00. Following the purchase, the chief executive officer now directly owns 3,068,951 shares of the company’s stock, valued at $16,725,782.95. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders have acquired a total of 562,719 shares of company stock valued at $2,541,630 in the last quarter. Company insiders own 42.74% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in OPK. Castleview Partners LLC purchased a new position in shares of Opko Health in the 1st quarter worth approximately $103,000. SG Americas Securities LLC purchased a new position in shares of Opko Health in the 2nd quarter worth approximately $136,000. North Star Investment Management Corp. purchased a new position in Opko Health in the 2nd quarter worth approximately $141,000. RPg Family Wealth Advisory LLC boosted its holdings in Opko Health by 74.3% in the 2nd quarter. RPg Family Wealth Advisory LLC now owns 31,080 shares of the biotechnology company’s stock worth $146,000 after acquiring an additional 13,250 shares during the period. Finally, Xact Kapitalforvaltning AB acquired a new position in Opko Health in the fourth quarter valued at about $179,000. Hedge funds and other institutional investors own 23.55% of the company’s stock.

Shares of OPK traded down $0.08 during trading hours on Tuesday, hitting $5.42. The stock had a trading volume of 6,292,497 shares, compared to its average volume of 7,250,249. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.94 and a current ratio of 1.05. Opko Health has a 1-year low of $2.66 and a 1-year high of $7.24.

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 Bio-Reference Laboratories, a clinical laboratory that offers laboratory testing services in the detection, diagnosis, evaluation, monitoring, and treatment of diseases.

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