OPKO Health, Inc, headquartered in Florida, works in the industry of medical appliances and equipment. This healthcare company has a diversified business and is present in 30 plus countries. OPKO Health is a public company, traded as NASDAQ: OPK at https://www.webull.com/quote/nasdaq-opk and TASE: OPK. Its primary business segment includes diagnostics of which bio reference laboratories is one of the largest clinical laboratories in the nation, pharmaceutical development, and other product lines in the field of medicine.
Financial performance of the company
The company reported consolidated revenue of $224.3 million in the fourth quartile of 2019 as compared to $221.9 million for the year 2018. The earnings per share in Q4 2019 showed a substantial rise in respect to what was estimated. Opk has a market capitalization of $937.76 million and a turnover rate of 5.09%.Analyst price targets an average of 4.15, ranging between3.00 – 6.00. The company made a major announcement of its collaboration with the New Jersey, for expanding access to efficient testing amidst pandemic of COVID-19. The investment recommendation shows a definite buy of 40% as the rates have spurred in OPK stock news.
Is it the right time to invest in OPK?
Amidst coronavirus outbreak and stock market crash that has created a bearish market, healthcare companies are still advancing. Even though Opko has $900 million revenue as of 2019 compared to Labcorp and Quest that reported $11 billion and $7 billion revenue respectively, opk stock news got a substantial rise in the market that rose up by 33% as compared to 10% and 7% increase in the other two.
The reason for this outperformance is due to its partnership with the state of New Jersey for expanding access to testing in this panic situation. But this news might not have a significant impact as the government announced to invest $50 billion towards the cause. The other reason for spurring rates of Opko Health Inc. (NASDAQ: OPK)could be because of its stock being sold short.
The tests for COVID-19 is estimated to cost around $6.6 billion, and if this thrives, the chances are for opk to see huge revenue growth in the later period. Investors should take this opportunity to invest in the long-term if only they are aggressive or moderate and have an appetite for risks. The time is right to make a purchase, though, and nothing can be predicted about the future as stocks are subject to the market risks. You can also gain information Nyse jwn at https://www.webull.com/quote/nyse-jwn.