Q1 2023 Earnings Estimate for OPKO Health, Inc. (NASDAQ:OPK) Issued By HC Wainwright

OPKO Health, Inc. (NASDAQ:OPK – Get Rating) – Investment analysts at HC Wainwright upped their Q1 2023 earnings per share (EPS) estimates for shares of OPKO Health in a research note issued on Thursday, March 9th. HC Wainwright analyst Y. Chen now forecasts that the biotechnology company will post earnings per share of ($0.02) for the quarter, up from their previous forecast of ($0.07). HC Wainwright has a “Buy” rating and a $3.00 price objective on the stock. The consensus estimate for OPKO Health’s current full-year earnings is ($0.31) per share. HC Wainwright also issued estimates for OPKO Health’s FY2023 earnings at ($0.22) EPS.

OPKO Health Price Performance

NASDAQ:OPK opened at $1.24 on Monday. The firm has a market capitalization of $958.09 million, a price-to-earnings ratio of -2.82 and a beta of 1.64. OPKO Health has a 1 year low of $1.00 and a 1 year high of $3.78. The business has a 50 day simple moving average of $1.27 and a 200-day simple moving average of $1.57. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.85 and a quick ratio of 1.50.

OPKO Health (NASDAQ:OPK – Get Rating) last released its quarterly earnings results on Thursday, February 23rd. The biotechnology company reported ($0.11) earnings per share for the quarter, meeting the consensus estimate of ($0.11). The business had revenue of $185.40 million during the quarter, compared to analysts’ expectations of $168.21 million. OPKO Health had a negative return on equity of 15.77% and a negative net margin of 32.70%. The firm’s revenue for the quarter was down 53.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.11) EPS.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OPK. Envestnet Asset Management Inc. grew its holdings in OPKO Health by 29.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 58,570 shares of the biotechnology company’s stock worth $201,000 after acquiring an additional 13,214 shares in the last quarter. Cetera Advisor Networks LLC grew its holdings in OPKO Health by 33.7% during the 1st quarter. Cetera Advisor Networks LLC now owns 15,156 shares of the biotechnology company’s stock worth $52,000 after acquiring an additional 3,820 shares in the last quarter. MetLife Investment Management LLC grew its holdings in OPKO Health by 70.6% during the 1st quarter. MetLife Investment Management LLC now owns 206,296 shares of the biotechnology company’s stock worth $710,000 after acquiring an additional 85,349 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of OPKO Health by 73.2% during the first quarter. Dimensional Fund Advisors LP now owns 7,184,414 shares of the biotechnology company’s stock valued at $24,717,000 after buying an additional 3,037,320 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in shares of OPKO Health by 11.9% during the first quarter. Sequoia Financial Advisors LLC now owns 94,071 shares of the biotechnology company’s stock valued at $324,000 after buying an additional 10,000 shares during the last quarter. 23.49% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Phillip Md Et Al Frost purchased 1,000,000 shares of the business’s stock in a transaction dated Wednesday, March 8th. The shares were purchased at an average cost of $1.18 per share, for a total transaction of $1,180,000.00. Following the completion of the acquisition, the chief executive officer now owns 199,831,694 shares in the company, valued at approximately $235,801,398.92. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Phillip Md Et Al Frost purchased 1,000,000 shares of the business’s stock in a transaction dated Wednesday, March 8th. The shares were purchased at an average cost of $1.18 per share, for a total transaction of $1,180,000.00. Following the completion of the acquisition, the chief executive officer now owns 199,831,694 shares in the company, valued at approximately $235,801,398.92. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Opko Health, Inc. purchased 14,285,714 shares of the business’s stock in a transaction dated Thursday, January 26th. The stock was bought at an average price of $0.35 per share, for a total transaction of $4,999,999.90. Following the completion of the acquisition, the insider now owns 94,285,714 shares of the company’s stock, valued at approximately $32,999,999.90. The disclosure for this purchase can be found here. Insiders own 40.97% of the company’s stock.

OPKO Health Company Profile

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OPKO Health, Inc is a biopharmaceutical and diagnostics company, which engages in the provision of healthcare services. It operates through the following segments: Diagnostics and Pharmaceuticals. The Diagnostics segment includes the clinical laboratory operations of BioReference, as well as point-of-care operations.