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OPKO Health (OPK) to Report Q4 Earnings: What's in Store?
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OPKO Health, Inc. (OPK - Free Report) is scheduled to release fourth-quarter 2020 results on Feb 18, after the closing bell. In the last reported quarter, the company’s earnings matched the consensus mark.
Q4 Estimates
Currently, the Zacks Consensus Estimate for fourth-quarter revenues is pegged at $436.1 million, suggesting growth of 94.4% from the year-ago reported figure. The consensus estimate for earnings stands at 4 cents per share.
Factors to Note
Higher revenues from Services and Products segment are likely to get reflected in OPKO Health’s fourth-quarter revenues.
The company is likely to have benefited from strong performance in RAYALDEE — its leading renal product — in the fourth quarter. Moreover, increase in total RAYALDEE prescriptions may have contributed to the to-be-reported quarter’s performance.
Further, the company’s fourth-quarter performance is likely to reflect OPKO Health’s BioReference Laboratories’ sustained progress. Notably, COVID-19 testing was a strong contributor to OPKO Health’s third-quarter growth and profitability, and the trend is likely to have continued in the quarter to be reported.
Per the third-quarter 2020 earnings call, BioReference Laboratories continues to be a leading provider of COVID-19 Polymerase chain reaction (PCR) testing services. It is worth mentioning that with respect to COVID-19 response efforts, the company built a specific expertise in offering testing with reasonable turnaround times. Increase in visibility with respect to new customers that was witnessed amid the pandemic, resulted in additional business relationships for the lab's core services, which is expected to continue well beyond the end of the pandemic.
In September 2020, BioReferece Laboratories and its GenPath specialty oncology division launched OnkoSight Advanced — a next generation sequencing (NGS) assay that enables revolutionary deoxyribonucleic acid (DNA) mutational profiling of tumor samples.
In October, BioReference Laboratories announced that it has started accepting specimens for a new multiplex COVID-19 and influenza test, which can be utilized by healthcare providers, clinics and health systems across the United States. This test will help in the diagnosis of COVID-19 and Influenza A or B (flu).
During the third quarter, OPKO Health initiated a Phase 2 trial with RAYALDEE as a treatment for patients with mild-to moderate COVID-19. Also, the company’s commercial partner for RAYALDEE in Europe — Vifor Fresenius Medical Care Renal Pharma — attained marketing authorizations for RAYALDEE for the treatment of secondary hyperparathyroidism in adults with stage 3 or 4 chronic kidney disease (CKD) and vitamin D insufficiency in seven European countries.
These developments are likely to have contributed to the company’s performance in the to-be-reported quarter.
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 #3.
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.
Option Care Health, Inc. (OPCH - Free Report) has an Earnings ESP of +46.94% and a Zacks Rank of 2.
The Cooper Companies, Inc. (COO - Free Report) has an Earnings ESP of +1.68% and a Zacks Rank of 3.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by referendums and legislation, this industry is expected to blast from an already robust $17.7 billion in 2019 to a staggering $73.6 billion by 2027. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
Image: Bigstock
OPKO Health (OPK) to Report Q4 Earnings: What's in Store?
OPKO Health, Inc. (OPK - Free Report) is scheduled to release fourth-quarter 2020 results on Feb 18, after the closing bell. In the last reported quarter, the company’s earnings matched the consensus mark.
Q4 Estimates
Currently, the Zacks Consensus Estimate for fourth-quarter revenues is pegged at $436.1 million, suggesting growth of 94.4% from the year-ago reported figure. The consensus estimate for earnings stands at 4 cents per share.
Factors to Note
Higher revenues from Services and Products segment are likely to get reflected in OPKO Health’s fourth-quarter revenues.
The company is likely to have benefited from strong performance in RAYALDEE — its leading renal product — in the fourth quarter. Moreover, increase in total RAYALDEE prescriptions may have contributed to the to-be-reported quarter’s performance.
OPKO Health, Inc. Price and EPS Surprise
OPKO Health, Inc. price-eps-surprise | OPKO Health, Inc. Quote
Further, the company’s fourth-quarter performance is likely to reflect OPKO Health’s BioReference Laboratories’ sustained progress. Notably, COVID-19 testing was a strong contributor to OPKO Health’s third-quarter growth and profitability, and the trend is likely to have continued in the quarter to be reported.
Per the third-quarter 2020 earnings call, BioReference Laboratories continues to be a leading provider of COVID-19 Polymerase chain reaction (PCR) testing services. It is worth mentioning that with respect to COVID-19 response efforts, the company built a specific expertise in offering testing with reasonable turnaround times. Increase in visibility with respect to new customers that was witnessed amid the pandemic, resulted in additional business relationships for the lab's core services, which is expected to continue well beyond the end of the pandemic.
In September 2020, BioReferece Laboratories and its GenPath specialty oncology division launched OnkoSight Advanced — a next generation sequencing (NGS) assay that enables revolutionary deoxyribonucleic acid (DNA) mutational profiling of tumor samples.
In October, BioReference Laboratories announced that it has started accepting specimens for a new multiplex COVID-19 and influenza test, which can be utilized by healthcare providers, clinics and health systems across the United States. This test will help in the diagnosis of COVID-19 and Influenza A or B (flu).
During the third quarter, OPKO Health initiated a Phase 2 trial with RAYALDEE as a treatment for patients with mild-to moderate COVID-19. Also, the company’s commercial partner for RAYALDEE in Europe — Vifor Fresenius Medical Care Renal Pharma — attained marketing authorizations for RAYALDEE for the treatment of secondary hyperparathyroidism in adults with stage 3 or 4 chronic kidney disease (CKD) and vitamin D insufficiency in seven European countries.
These developments are likely to have contributed to the company’s performance in the to-be-reported quarter.
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 #3.
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.
DENTSPLY SIRONA (XRAY - Free Report) has an Earnings ESP of +2.09% and a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Option Care Health, Inc. (OPCH - Free Report) has an Earnings ESP of +46.94% and a Zacks Rank of 2.
The Cooper Companies, Inc. (COO - Free Report) has an Earnings ESP of +1.68% and a Zacks Rank of 3.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by referendums and legislation, this industry is expected to blast from an already robust $17.7 billion in 2019 to a staggering $73.6 billion by 2027. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot stocks we're targeting >>