Panagora Asset Management Inc. Reduces Stock Holdings in Opko Health Inc. (NASDAQ:OPK)

Panagora Asset Management Inc. trimmed its holdings in shares of Opko Health Inc. (NASDAQ:OPK) by 8.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,967,794 shares of the biotechnology company’s stock after selling 174,329 shares during the quarter. Panagora Asset Management Inc. owned 0.32% of Opko Health worth $4,801,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in OPK. Piedmont Investment Advisors Inc. purchased a new stake in Opko Health during the 1st quarter valued at about $27,000. Eqis Capital Management Inc. purchased a new stake in Opko Health during the 2nd quarter valued at about $33,000. B. Riley Wealth Management Inc. purchased a new stake in Opko Health during the 1st quarter valued at about $39,000. Sawtooth Solutions LLC purchased a new stake in Opko Health during the 2nd quarter valued at about $45,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. grew its stake in Opko Health by 100.0% during the 2nd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 20,000 shares of the biotechnology company’s stock valued at $49,000 after purchasing an additional 10,000 shares during the last quarter. Hedge funds and other institutional investors own 25.63% of the company’s stock.

OPK has been the subject of several analyst reports. Zacks Investment Research raised Opko Health from a “sell” rating to a “hold” rating and set a $2.00 price objective for the company in a report on Tuesday, August 20th. ValuEngine raised Opko Health from a “sell” rating to a “hold” rating in a report on Thursday, August 1st.

In other Opko Health news, CEO Phillip Md Et Al Frost purchased 50,000 shares of Opko Health stock in a transaction that occurred on Tuesday, July 16th. The stock was bought at an average price of $2.12 per share, with a total value of $106,000.00. Following the acquisition, the chief executive officer now owns 3,068,951 shares of the company’s stock, valued at approximately $6,506,176.12. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders purchased a total of 550,000 shares of company stock valued at $1,151,500 in the last ninety days. 42.25% of the stock is currently owned by insiders.

Shares of OPK stock traded up $0.03 on Friday, hitting $1.89. The company had a trading volume of 30,379 shares, compared to its average volume of 2,994,280. The firm has a market cap of $1.13 billion, a P/E ratio of -7.58 and a beta of 2.19. The company has a 50-day moving average price of $1.94 and a 200-day moving average price of $2.22. The company has a quick ratio of 1.04, a current ratio of 1.21 and a debt-to-equity ratio of 0.13. Opko Health Inc. has a twelve month low of $1.73 and a twelve month high of $5.80.

Opko Health (NASDAQ:OPK) last issued its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.01. The business had revenue of $226.40 million during the quarter, compared to analysts’ expectations of $225.07 million. Opko Health had a negative return on equity of 12.17% and a negative net margin of 26.55%. The company’s revenue for the quarter was down 14.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.01) EPS. Equities research analysts expect that Opko Health Inc. will post -0.43 EPS for the current year.

Opko Health Profile

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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Institutional Ownership by Quarter for Opko Health (NASDAQ:OPK)

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