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OPKO Health (OPK) to Report Q2 Earnings: What's in Store?

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OPKO Health, Inc. (OPK - Free Report) is scheduled to release second-quarter 2020 results on Jul 30, after the closing bell.

Q2 Estimates

Currently, the Zacks Consensus Estimate for second-quarter revenues is pegged at $234.6 million, suggesting growth of 3.6% from the year-ago reported figure. The consensus mark for second-quarter 2020 bottom line stands at a loss of 7 cents per share.

Key Catalysts

Higher revenues from Products segment are likely to get reflected in OPKO Health’s second-quarter revenues.

The company might have benefited from strong performance in RAYALDEE — its leading renal product — in the to-be-reported quarter. Moreover, increase in total RAYALDEE prescriptions may have contributed to the to-be-reported quarter’s performance.

Further, the company’s second-quarter performance is likely to reflect OPKO Health’s BioReference Laboratories’ sustained progress. In fact, BioReference Laboratories’ collaborations with the numerous states, cities and healthcare systems, including state of New Jersey, City of Detroit and City of Miami and other cities with respect to offering testing for COVID-19 are expected to have positively impacted the company’s performance in the quarter to be reported.

OPKO Health, Inc. Price and EPS Surprise

OPKO Health, Inc. Price and EPS Surprise

OPKO Health, Inc. price-eps-surprise | OPKO Health, Inc. Quote

In May, BioReference Laboratories collaborated with MagnaCare — a division of Brighton Health Plans Solutions, LLC — to offer COVID-19 antibody testing to Labor clients in the New York metropolitan area. With this antibody testing, Labor groups in the area will be able to gather information and take decisions regarding back-to-work procedures and safety measures for the protection of workers and public.

In June, the FDA authorized OPKO Health to undertake a Phase 2 trial with RAYALDEE as a treatment for patients possessing mild-to-moderate COVID-19.

These developments are likely to have positively impacted the company’s performance in the to-be-reported quarter.

Additionally, per management, OPKO Health will continue to make solid investments in R&D programs throughout 2020. The company is likely to have gained from such investments in the quarter to be reported.

However, higher operating losses might weigh on the company’s second-quarter performance.

What Our Quantitative Model Suggests

Per our proven model, a combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. This is not the case here as you will see.

Earnings ESP: OPKO Health has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: OPKO Health carries a Zacks Rank #2.

Stocks Worth a Look

Here are some medical stocks worth considering as these have the right combination of elements to post an earnings beat this quarter.

Integra LifeSciences Holdings Corporation (IART - Free Report) has an Earnings ESP of +20.69% and a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.

Exact Sciences Corporation (EXAS - Free Report) has an Earnings ESP of +6.69% and a Zacks Rank of 2.

Teleflex Incorporated (TFX - Free Report) has an Earnings ESP of +5.77% and a Zacks Rank of 3.

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