OPK Stock Gains Following Q3 Earnings Beat, Gross Margin Contracts

Zacks11-09

OPKO Health, Inc. OPK delivered an earnings per share (EPS) of 3 cents in the third quarter of 2024 against the year-ago period’s loss of 11 cents per share and the Zacks Consensus Estimate of a loss ...

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OPK delivered an earnings per share (EPS) of 3 cents in the third quarter of 2024 against the year-ago period’s loss of 11 cents per share and the Zacks Consensus Estimate of a loss ...</p>\n\n<a href=\"https://finance.yahoo.com/news/opk-stock-gains-following-q3-171400272.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>OPK Stock Gains Following Q3 Earnings Beat, Gross Margin Contracts</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOPK Stock Gains Following Q3 Earnings Beat, Gross Margin Contracts\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-09 01:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/opk-stock-gains-following-q3-171400272.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>OPKO Health, Inc. OPK delivered an earnings per share (EPS) of 3 cents in the third quarter of 2024 against the year-ago period’s loss of 11 cents per share and the Zacks Consensus Estimate of a loss ...</p>\n\n<a href=\"https://finance.yahoo.com/news/opk-stock-gains-following-q3-171400272.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BSX","symbol_name":"波士顿科学","start_time":0,"source_url":"https://finance.yahoo.com/news/opk-stock-gains-following-q3-171400272.html","article_id":"2482439553","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/E6c.Br4zGaRkJms.T3VV6g--~B/aD00MTM7dz02MjA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/720c8da91f84eaf3696b8496766072f1"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2482439553","pubTimestamp":1731086040,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"OPKO Health, Inc. OPK delivered an earnings per share  of 3 cents in the third quarter of 2024 against the year-ago period’s loss of 11 cents per share and the Zacks Consensus Estimate of a loss of 10 cents per share.OPKO Health registered revenues of $173.6 million in the third quarter, down 2.8% year over year. The figure missed the Zacks Consensus Estimate by 4.3%.Shares of this company gained nearly 4.1% in yesterday’s after-hours trading.OPKO Health manages its operations through two reportable segments – Diagnostics and Pharmaceuticals.OPKO Health, Inc. price-consensus-eps-surprise-chart | OPKO Health, Inc. Quote. In the quarter under review, OPKO Health’s gross profit declined 15.8% to $40.1 million. The gross margin contracted 358 basis points to 23.1%. We had projected 29.7% of gross margin in the third quarter of 2024.OPKO Health exited third-quarter 2024 with cash and cash equivalents of $406.4 million compared with $40.6 million at the second-quarter end.Cumulative net cash","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"BSX":"波士顿科学","DGX":"奎斯特诊疗","RMD.AU":"Resmed DRC","RMD":"瑞思迈","OPK":"Opko Health"},"translate_title":"OPK股票在第三季度盈利超出预期和毛利率合同后上涨","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"OPK":1,"BSX":0.9,"DGX":0.9,"RMD":0.9,"RMD.AU":0.9},"content_text":"OPKO Health, Inc. OPK delivered an earnings per share (EPS) of 3 cents in the third quarter of 2024 against the year-ago period’s loss of 11 cents per share and the Zacks Consensus Estimate of a loss of 10 cents per share.\nOPK’s Revenues in Detail\nOPKO Health registered revenues of $173.6 million in the third quarter, down 2.8% year over year. The figure missed the Zacks Consensus Estimate by 4.3%.\nLower revenues from products and services dragged the overall top line.\nShares of this company gained nearly 4.1% in yesterday’s after-hours trading.\nFind the latest EPS estimates and surprises on Zacks Earnings Calendar.\nOPKO Health’s Segmental Revenues\nOPKO Health manages its operations through two reportable segments – Diagnostics and Pharmaceuticals.\nWithin the Diagnostics arm, revenues from services amounted to $121.3 million in the reported quarter, down 7.9% year over year. This was primarily due to lower clinical test volume, principally resulting from the Labcorp transaction and a reduction in reimbursement rates. This compares to our projection of $128.2 million from services revenues in the third quarter.\nWithin the Pharmaceuticals arm, revenues from products declined 3.8% to $39.1 million, reflecting lower Rayaldee sales and foreign currency exchange fluctuations. This compares to our projection of $39.9 million from product revenues in the third quarter.\nRevenues from sales of RAYALDEE in the third quarter of 2024 were $5.8 million, down 20.5% from the prior-year period.\nRevenues from the transfer of intellectual property and other totaled $13.2 million, up 111.6% from the prior-year period. This increase was primarily attributable to $5.5 million from the BARDA Contract. This compares to our projection of $13 million in revenues from the transfer of intellectual property and other in the third quarter.\n\nOPKO Health, Inc. Price, Consensus and EPS Surprise\n  \nOPKO Health, Inc. price-consensus-eps-surprise-chart | OPKO Health, Inc. Quote\n\nOPK’s Margin Analysis\nIn the quarter under review, OPKO Health’s gross profit declined 15.8% to $40.1 million. The gross margin contracted 358 basis points to 23.1%. We had projected 29.7% of gross margin in the third quarter of 2024.\nSelling, general and administrative expenses rose 35.9% year over year to $98.2 million. Research and development expenses increased 48% year over year to $28.8 million. Adjusted operating expenses of $126.9 million increased 38.5% year over year.\nAdjusted operating loss totaled $86.8 million compared with the prior-year quarter’s adjusted operating loss of $43.9 million.\nOPKO Health’s Financial Position\nOPKO Health exited third-quarter 2024 with cash and cash equivalents of $406.4 million compared with $40.6 million at the second-quarter end.\nCumulative net cash used in operating activities at the end of third-quarter 2024 was $139.1 million against cumulative net cash provided by operating activities of $10.1 million in the year-ago period.\nOPK’s Guidance\nOPKO Health has provided its financial outlook for the fourth quarter of 2024.\nFor the fourth quarter, it expects total revenues between $155 million and $160 million. The Zacks Consensus Estimate currently stands at $163.6 million.\nOPKO Health expects its revenues from services to be between $95 million and $98 million. Revenues from product sales are expected to be in the range of $41 million-$44 million. Other revenues are expected to be between $13 million and $18 million, inclusive of the Pfizer gross profit share estimates between $8 and $10 million and BARDA revenues of $5 million to $8 million.\nOur Take\nOPKO Health exited the third quarter of 2024 with better-than-expected earnings and encouraging revenues from transfer of intellectual property and other. Management’s confirmation that enrollment and dosing is currently underway in the MDX2001 Phase 1 trial for the treatment of solid tumor cancers and announcement of promising results of an orally delivered oxyntomodulin analog raise our optimism about the company. The company has also been awarded $51 million of additional funding under an existing BARDA contract to develop COVID multispecific antibodies and to initiate an influenza program is also encouraging.\nHowever, lower-than-expected revenues and dismal top-line performance were concerning. Lower revenues from products and services were also worrying. The decline in RAYALDEE sales was also disappointing. The contraction of the gross margin and the persistent operating loss for OPKO Health also do not bode well for the company.\nOPKO Health’s Zacks Rank and Other Key Picks\nOPK currently sports a Zacks Rank #1 (Strong Buy).\nA few other top-ranked stocks in the broader medical space that have announced quarterly results are Quest Diagnostics Incorporated DGX, ResMed Inc. RMD and Boston Scientific Corporation BSX.\nQuest Diagnostics, carrying a Zacks Rank of 2 (Buy), reported third-quarter 2024 adjusted EPS of $2.30, beating the Zacks Consensus Estimate by 1.8%. Revenues of $2.49 billion outpaced the consensus mark by 3.4%. You can see the complete list of today’s Zacks #1 Rank stocks here.\nQuest Diagnostics has a long-term estimated growth rate of 6.5%. DGX’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 3.4%.\nResMed reported first-quarter fiscal 2025 adjusted EPS of $2.20, beating the Zacks Consensus Estimate by 8.4%. Revenues of $1.22 billion surpassed the Zacks Consensus Estimate by 2.9%. It currently carries a Zacks Rank #2.\nResMed has a long-term estimated growth rate of 14.8%. RMD’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 6.4%.\nBoston Scientific reported third-quarter 2024 adjusted EPS of 63 cents, beating the Zacks Consensus Estimate by 8.6%. Revenues of $4.21 billion surpassed the Zacks Consensus Estimate by 4.4%. It currently carries a Zacks Rank #2.\nBoston Scientific has a long-term estimated growth rate of 13.8%. BSX’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 8.3%.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nBoston Scientific Corporation (BSX) : Free Stock Analysis Report\nQuest Diagnostics Incorporated (DGX) : Free Stock Analysis Report\nResMed Inc. (RMD) : Free Stock Analysis Report\nOPKO Health, Inc. (OPK) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2482439553"}