A company insider recently bought 50,000 shares of OPKO Health Inc. [OPK]. Should You Buy?

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. OPKO Health Inc. shares valued at $96,888 were purchased by FROST PHILLIP MD ET AL on Sep 20. At $1.94 per share, FROST PHILLIP MD ET AL acquired 50,000 shares. The insider’s holdings grew to 197,556,694 shares worth approximately $375.36 million following the completion of this transaction.

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Also, FROST PHILLIP MD ET AL purchased 50,000 shares, netting a total of over 98,554 in proceeds. Following the buying of shares at $1.97 each, the insider now holds 197,506,694 shares.

Before that, FROST PHILLIP MD ET AL had added 200,000 shares to its account. In a trade valued at $412,900, the CEO & Chairman bought OPKO Health Inc. shares for $2.06 each. Upon closing the transaction, the insider’s holdings increased to 200,000 shares, worth approximately $375.17 million.

As published in a research note from Barrington Research on January 24, 2022, OPKO Health Inc. [OPK] has been rated down from an Outperform to a Mkt perform. Analysts at Ladenburg Thalmann started covering the stock with ‘”a Buy”‘ outlook in a report released in late June. As of November 25, 2019, Piper Jaffray has initiated its “an Overweight” rating for OPK. Earlier on March 02, 2018, JP Morgan downgraded its rating. Their new recommendation was “an Underweight” for OPK stock which previously was a “a Neutral”.

Analyzing OPK’s Price Performance

On Wednesday, OPKO Health Inc. [NASDAQ: OPK] plunged -2.06% to $1.90. The stock’s lowest price that day was $1.89, but it reached a high of $2.01 in the same session. During the last five days, there has been a drop of approximately -9.09%. Over the course of the year, OPKO Health Inc. shares have dropped approximately -60.50%. Shares of the company reached a 52-week high of $4.9550 on 01/03/22 and a 52-week low of $1.8900 on 09/21/22. A 50-day SMA is recorded $2.3808, while a 200-day SMA reached $3.1022. Nevertheless, trading volume fell to 2.13 million shares from 3.23 million shares the previous day.

Support And Resistance Levels for OPKO Health Inc. (OPK)

According to the 24-hour chart, there is a support level at 1.8567, which, if violated, would cause prices to drop to 1.8133. In the upper region, resistance lies at 1.9767. The next price resistance is at 2.0533. RSI (Relative Strength Index) is 26.63 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.1640, which suggests the price will decrease in the coming days. Percent R is at 97.37%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is OPKO Health Inc. subject to short interest?

Stocks of OPKO Health Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -5.55 million shares to 48.68 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 54.23 million shares. A decline of -11.4% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 9.93 of the overall float, the days-to-cover ratio (short ratio) decline to 9.93.

Which companies own the most shares of OPKO Health Inc. (OPK)?

According to The Vanguard Group, Inc. filings, the company currently owns 41,910,995 shares, which is about 5.43% of the total OPK shares outstanding. The investor’s shares have appreciated by 6,494,398 from its previous 13-F filing of 35416597.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $65,439,949. SSgA Funds Management, Inc. reduced a -64.37% interest valued at $21.51 million while Dimensional Fund Advisors LP purchased a 1,894,266 stake. A total of -138,759 shares of OPKO Health Inc. were bought by Geode Capital Management LLC during the quarter, and 5,624,866 were bought by Millennium Management LLC. In its current portfolio, Oracle Investment Management, Inc holds 7,252,756 shares valued at $15.81 million.

In terms of OPKO Health Inc. share price expectations, FactSet research, analysts set an average price target of $5.69 in the next 12 months, up nearly 164.43% from the previous closing price of $1.94. Analysts anticipate OPKO Health Inc. stock to reach $8.50 by 2022, with the lowest price target being $4.00. In spite of this, 5 analysts ranked OPKO Health Inc. stock as a Buy at the end of 2022.


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