The Vanguard Group, Inc. recently announced the acquisition of new stake in Opko Health Inc (NASDAQ:OPK). The institutional investor has increased its shareholding in the Healthcare company by 0.04% to 38.58 million shares with purchase of 13628.0 shares. This fresh investment now brings its stake to 4.99% valued currently at $58.26 million. In addition, KSM Mutual Funds Ltd. raised its holdings by 0.33 million to 11.12 million shares. And SSgA Funds Management, Inc. has lifted its position by 2.12% or 0.19 million shares – to 9.34 million shares.
With over 13.46 million Opko Health Inc (OPK) shares trading Friday and a closing price of $0.98 on the day, the dollar volume was approximately $13.19 million. The shares have shown a negative half year performance of -53.21% and its price on 01/12/24 gained nearly 2.56%. Currently, there are 772.65M common shares owned by the public and among those 412.11M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 6 analysts who have offered their price forecasts for OPK have a consensus price objective of $4.33. The analysts have set the share’s price value over the next 12 months at a high of $8.50 and a low of $2.00. The average price target is 77.37% above its recent price level and an upside to the estimated low will see the stock gain 51.0% over that period. But an upside of 88.47% will see the stock hit the forecast high price target while median target price for the stock is $4.00.
Insiders at the company have transacted a total of 105 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 105 of these insider trades were purchases, accounting for 3,720,245 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Opko Health Inc are Vanguard Total Stock Market ETF, iShares Russell 2000 ETF, and Vanguard Small Cap Index Fund. Vanguard Total Stock Market ETF owns 12.73 million shares of the company’s stock, all valued at over $19.22 million. iShares Russell 2000 ETF sold 28998.0 shares to see its total holdings shrink to 10.95 million shares valued at over $16.54 million and representing 1.42% of the shares outstanding. Vanguard Small Cap Index Fund bought 30680.0 shares to bring its total holdings to over 9.96 million shares at a value of $15.05 million. Vanguard Small Cap Index Fund now owns shares totaling to 1.29% of the shares outstanding.
Shares of Opko Health Inc (NASDAQ: OPK) opened at $0.96, up $0.01 from a prior closing price of $0.95. However, the script later moved the day high at 1.0100, up 2.56%. The company’s stock has a 5-day price change of 10.06% and -29.13% over the past three months. OPK shares are trading -35.23% year to date (YTD), with the 12-month market performance down to -25.34% lower. It has a 12-month low price of $0.85 and touched a high of $2.24 over the same period. OPK has an average intraday trading volume of 8.29 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -29.60%, -31.25%, and -38.35% respectively.
Institutional ownership of Opko Health Inc (NASDAQ: OPK) shares accounts for 24.60% of the company’s 772.65M shares outstanding. Mutual fund holders own 49.23%, while other institutional holders and individual stakeholders account for 6.60% and 18.06% respectively.
It has a market capitalization of $756.05M and a beta (3y monthly) value of 1.81. The earnings-per-share (ttm) stands at -$0.28. Price movements for the stock have been influenced by the stock’s volatility, which stands at 11.02% over the week and 8.75% over the month.
Analysts forecast that Opko Health Inc (OPK) will achieve an EPS of -$0.09 for the current quarter, -$0.06 for the next quarter and -$0.19 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.1 while analysts give the company a high EPS estimate of -$0.08. Comparatively, EPS for the current quarter was -$0.11 a year ago. Earnings per share for the fiscal year are expected to increase by 43.48%, and 14.62% over the next financial year. EPS should grow at an annualized rate of 12.00% over the next five years, compared to 3.51% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate Opko Health Inc (OPK) as a “Strong Buy” at a consensus score of 1.00. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 0 of the 6 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the OPK, a number of firms have released research notes about the stock. Barrington Research stated their Outperform rating for the stock in a research note on June 29, 2023, with the firm’s price target at $2.
