OPKO Health (OPK) Gains As Market Dips: What You Should Know
OPKO Health (OPK) closed the most recent trading day at $5.60, moving +0.72% from the previous trading session. The stock outpaced the S&P 500's daily loss of 1.23%. Elsewhere, the Dow lost 1.31%, while the tech-heavy Nasdaq lost 2.29%.
Coming into today, shares of the holding company with investments in pharmaceutical and diagnostics companies had gained 117.19% in the past month. In that same time, the Medical sector gained 3.6%, while the S&P 500 gained 5.2%.
Investors will be hoping for strength from OPK as it approaches its next earnings release. On that day, OPK is projected to report earnings of -$0.07 per share, which would represent year-over-year growth of 30%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $234.57 million, up 3.61% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.30 per share and revenue of $939.06 million. These totals would mark changes of +26.83% and +4.11%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for OPK. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. OPK is currently a Zacks Rank #2 (Buy).
The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 153, putting it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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