OPKO Health, Inc. (NASDAQ:OPK) Short Interest Down 16.6% in April

OPKO Health, Inc. (NASDAQ:OPK) was the recipient of a large decrease in short interest in the month of April. As of April 15th, there was short interest totalling 78,030,000 shares, a decrease of 16.6% from the March 31st total of 93,610,000 shares. Currently, 23.8% of the company’s stock are short sold. Based on an average daily trading volume, of 9,110,000 shares, the short-interest ratio is currently 8.6 days.

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, CEO Phillip Md Et Al Frost bought 500,000 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was purchased at an average cost of $0.87 per share, with a total value of $435,000.00. Following the purchase, the chief executive officer now directly owns 210,968,225 shares of the company’s stock, valued at approximately $183,542,355.75. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have acquired a total of 4,600,000 shares of company stock worth $4,393,000 in the last ninety days. 47.26% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its position in OPKO Health by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,733,700 shares of the biotechnology company’s stock valued at $8,658,000 after purchasing an additional 183,754 shares during the period. Invesco Ltd. lifted its position in shares of OPKO Health by 300.4% in the third quarter. Invesco Ltd. now owns 5,164,180 shares of the biotechnology company’s stock valued at $8,263,000 after acquiring an additional 3,874,519 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of OPKO Health by 30.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,419,957 shares of the biotechnology company’s stock valued at $2,272,000 after acquiring an additional 327,836 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in OPKO Health by 107.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,253,808 shares of the biotechnology company’s stock valued at $1,502,000 after purchasing an additional 648,569 shares in the last quarter. Finally, PFG Investments LLC acquired a new stake in shares of OPKO Health during the 1st quarter worth about $1,125,000. 64.63% of the stock is currently owned by hedge funds and other institutional investors.

OPKO Health Stock Performance

Shares of OPK stock traded down $0.02 during mid-day trading on Tuesday, hitting $1.22. 3,098,603 shares of the stock were exchanged, compared to its average volume of 12,871,089. The stock’s fifty day simple moving average is $1.10 and its two-hundred day simple moving average is $1.22. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.22 and a current ratio of 1.55. OPKO Health has a 12-month low of $0.85 and a 12-month high of $2.24. The stock has a market capitalization of $850.33 million, a price-to-earnings ratio of -4.96 and a beta of 1.81.

OPKO Health (NASDAQ:OPK) last released its quarterly earnings results on Tuesday, February 27th. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.09). The firm had revenue of $181.90 million for the quarter, compared to the consensus estimate of $177.53 million. OPKO Health had a negative return on equity of 12.69% and a negative net margin of 21.76%. The firm’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.11) EPS. On average, analysts forecast that OPKO Health will post -0.33 EPS for the current year.

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.