CEO and chairman of Opko Health earns $346.44 thousand buy

Phillip Frost MD, individually and as trustee, CEO and chairman at Opko Health (NASDAQ:OPK), made a major insider buy on Sept. 14, according to a new SEC filing.

What happened: Submit a Form 4 from the US Securities and Exchange Commission on Tuesday, it emerged that Trustee has purchased 100,000 shares of Opko Health at a price of $3.46 per share. The total transaction was $346,443.

confidant now owns a total of 223,298,871 of Opko Health worth, 779,313,059.

Opko Health shares are trading at 0.29% at the time of writing on Wednesday morning at $3.49.

Trade stocks now commission-free online with Charles Schwab, a trusted and complete investment firm.

Why Insider Transactions Matter

Insider trades should not be used primarily to make an investment decision, but an insider trade can be an important factor in the investment decision.

In legal terms, an “insider” refers to any shareholder who owns at least 10% of a company. These could be c-suite executives and large hedge funds. These insiders are required to notify the public of their trades through a Form 4 filing, which must be filed within two business days of the trade.

When a company insider makes a new purchase, it’s an indication that they expect the stock to rise.

Insider sales, on the other hand, can be made for a variety of reasons and don’t necessarily mean the seller thinks the stock will fall.

Transaction codes to focus on

investors rather focus on trades that take place in the open market, as indicated in Table I of the Form 4 filing. AN p in box 3 indicates a purchase, while s indicates a sale. Transaction code C indicates the conversion of an option, and transaction code AN indicates that the insider may have been forced to sell stock in order to receive the promised consideration when hired by the company.

See Opko Health’s full list of insider trades.

See more from Benzinga

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.