Essex Investment Management Co. LLC Boosts Stake in Opko Health, Inc. (OPK)

Essex Investment Management Co. LLC boosted its stake in shares of Opko Health, Inc. (NASDAQ:OPK) by 0.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 266,949 shares of the biotechnology company’s stock after buying an additional 2,153 shares during the period. Essex Investment Management Co. LLC’s holdings in Opko Health were worth $1,757,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of OPK. Credit Suisse AG increased its stake in Opko Health by 122.0% in the first quarter. Credit Suisse AG now owns 746,958 shares of the biotechnology company’s stock valued at $5,976,000 after buying an additional 410,445 shares in the last quarter. State Street Corp increased its stake in Opko Health by 40.3% in the first quarter. State Street Corp now owns 10,926,560 shares of the biotechnology company’s stock valued at $87,412,000 after buying an additional 3,138,685 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in Opko Health during the fourth quarter valued at about $648,000. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD increased its stake in Opko Health by 14.8% in the second quarter. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD now owns 135,401 shares of the biotechnology company’s stock valued at $910,000 after buying an additional 17,458 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ bought a new stake in Opko Health during the first quarter valued at about $4,450,000. Institutional investors and hedge funds own 22.94% of the company’s stock.

Opko Health, Inc. (OPK) opened at 6.12 on Friday. The company’s market cap is $3.42 billion. Opko Health, Inc. has a 12-month low of $5.85 and a 12-month high of $12.15. The stock has a 50 day moving average of $6.27 and a 200 day moving average of $7.19.

Opko Health (NASDAQ:OPK) last announced its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.01. The business had revenue of $314.20 million for the quarter, compared to analysts’ expectations of $322.64 million. Opko Health had a negative net margin of 6.52% and a negative return on equity of 3.67%. The business’s quarterly revenue was down 12.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.02 EPS. Equities analysts expect that Opko Health, Inc. will post ($0.20) earnings per share for the current year.

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Several research firms have issued reports on OPK. Cantor Fitzgerald began coverage on Opko Health in a research report on Thursday. They set an “overweight” rating and a $20.00 target price on the stock. Jefferies Group LLC restated a “hold” rating and set a $8.00 target price on shares of Opko Health in a research report on Monday, June 12th. Zacks Investment Research upgraded Opko Health from a “hold” rating to a “buy” rating and set a $7.25 target price on the stock in a research report on Friday, July 21st. Barrington Research upped their price target on shares of Opko Health to $11.00 and gave the stock an “outperform” rating in a report on Tuesday, July 18th. Finally, Ladenburg Thalmann Financial Services reaffirmed a “buy” rating and issued a $19.50 price target on shares of Opko Health in a report on Tuesday, June 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. Opko Health currently has an average rating of “Buy” and a consensus price target of $15.28.

In related news, CEO Phillip Md Et Al Frost bought 50,000 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were acquired at an average cost of $5.96 per share, for a total transaction of $298,000.00. Following the purchase, the chief executive officer now directly owns 3,068,951 shares of the company’s stock, valued at $18,290,947.96. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John A. Paganelli bought 5,000 shares of the company’s stock in a transaction on Thursday, June 1st. The stock was bought at an average price of $6.17 per share, for a total transaction of $30,850.00. Following the completion of the purchase, the director now directly owns 350,340 shares in the company, valued at $2,161,597.80. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 1,638,200 shares of company stock worth $10,370,607. Corporate insiders own 40.19% of the company’s stock.

About Opko Health

OPKO Health, Inc is a healthcare company. Its segments include Pharmaceutical, Diagnostics and Corporate. Pharmaceutical consists of the pharmaceutical operations in Chile, Mexico, Ireland, Israel and Spain and its pharmaceutical research and development operations. Diagnostics consists of the clinical laboratory operations in Bio-Reference Laboratories (Bio-Reference) and its point-of-care operations.

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

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