Bank of New York Mellon Corp Lowers Stake in OPKO Health, Inc. (NASDAQ:OPK)

Bank of New York Mellon Corp lessened its holdings in OPKO Health, Inc. (NASDAQ:OPK) by 5.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,392,766 shares of the biotechnology company’s stock after selling 74,609 shares during the quarter. Bank of New York Mellon Corp owned 0.20% of OPKO Health worth $1,741,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its position in shares of OPKO Health by 4.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 445,981 shares of the biotechnology company’s stock valued at $536,000 after acquiring an additional 17,671 shares during the period. IPG Investment Advisors LLC purchased a new position in shares of OPKO Health in the fourth quarter valued at about $30,000. Virtu Financial LLC purchased a new position in shares of OPKO Health in the first quarter valued at about $26,000. Commonwealth Equity Services LLC increased its position in shares of OPKO Health by 5.9% in the first quarter. Commonwealth Equity Services LLC now owns 437,276 shares of the biotechnology company’s stock valued at $525,000 after acquiring an additional 24,350 shares during the period. Finally, SlateStone Wealth LLC purchased a new position in shares of OPKO Health in the first quarter valued at about $31,000. Hedge funds and other institutional investors own 64.63% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Opko Health, Inc. sold 50,000 shares of OPKO Health stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $34.49, for a total transaction of $1,724,500.00. Following the completion of the sale, the insider now owns 2,646,972 shares in the company, valued at approximately $91,294,064.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders sold 736,644 shares of company stock valued at $23,874,134. Company insiders own 47.26% of the company’s stock.

OPKO Health Stock Performance

OPK opened at $1.62 on Thursday. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of -4.63 and a beta of 1.64. The company has a fifty day moving average of $1.51 and a 200 day moving average of $1.32. OPKO Health, Inc. has a fifty-two week low of $0.85 and a fifty-two week high of $1.75. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.36 and a current ratio of 1.63.

OPKO Health (NASDAQ:OPK) last issued its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.08. OPKO Health had a negative net margin of 33.79% and a negative return on equity of 17.67%. The business had revenue of $182.20 million during the quarter, compared to analysts’ expectations of $184.70 million. During the same period last year, the company posted ($0.03) EPS. The business’s revenue was down 31.3% on a year-over-year basis. As a group, sell-side analysts forecast that OPKO Health, Inc. will post -0.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on OPK. Piper Sandler reaffirmed an “overweight” rating and set a $3.00 target price on shares of OPKO Health in a research note on Tuesday. Barrington Research lifted their target price on shares of OPKO Health from $1.50 to $2.25 and gave the company an “outperform” rating in a research note on Thursday, August 8th. HC Wainwright reaffirmed a “buy” rating and set a $3.00 target price on shares of OPKO Health in a research note on Tuesday. Finally, StockNews.com raised shares of OPKO Health to a “sell” rating in a research note on Saturday, July 27th.

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.