Boston, MA 09/11/2014 (wallstreetpr) – Multi-national biopharmaceutical and diagnostics company, Opko Health Inc. (OPK) Chairman of the Board and Chief Executive Officer, Phillip Frost, has further consolidated his holding in the company by acquiring shares from the open market indirectly.
Acquire Shares
Frost Gamma Investments Trust, in which the Phillip Frost has interest, has purchased 35,700 shares on September 9 at the rate of $8.55 a share, Opko Health Inc. (NYSE:OPK) disclosed this in a Form 4 filed on September 10 with the regulator. There were twelve transactions on September 9 with different quantities and different prices.
While the minimum quantity was 100 shares, the maximum quantity purchased in a single transaction was 7,809 shares. Similarly, the price ranged between $8.52 and $8.57. In all, the trust has paid $305,129 to buy the shares.
While the latest purchase has taken the total number of shares held by the trust to 142.93 million, the Chairman’s direct holding in the company remains at 2.01 million shares.
The most recent purchase indicated that the trust has paid 16.8% premium to the yearly low price of $7.32. However, it has paid nearly 34% discount over the 52-week high price of $12.95.
Earlier Transactions
The trust has acquired 58,000 shares, 35,000 shares and 10,000 shares on September 5, 4, and 2 respectively. It has paid $8.37, $8.56 and $8.78 a share respectively on these dates, according to Nasdaq data.
In the last three months, there were 39 insider transactions, and all belonged to buying activities from the market. There was virtually no selling by the insiders. As a result, the net buying activities amounted to 1.109 million shares during the three-month period. The purchases were mostly made by Phillip Frost indirectly for the trust.
Similarly, for the 12-month period, there were 172 transactions of insider trading activities and 163 represented buying activities while nine transactions involved selling activities. This meant that there was total buying of 5.589 million shares compared to the 630,622 shares sold during the last one-year period. Thus, there was a net buying activity of 4.96 million shares by the insiders.
The continued buying activities by the Chairman and CEO indicate the bullishness the management has on the stock.
