Option Care Health, Inc. (NASDAQ:OPCH) Sees Significant Drop in Short Interest

Option Care Health, Inc. (NASDAQ:OPCH) was the recipient of a significant decline in short interest in October. As of October 31st, there was short interest totalling 4,420,000 shares, a decline of 24.7% from the October 15th total of 5,870,000 shares. Currently, 2.6% of the company’s stock are sold short. Based on an average daily volume of 1,700,000 shares, the days-to-cover ratio is presently 2.6 days.

Option Care Health Price Performance

NASDAQ OPCH traded down $0.37 during trading hours on Friday, hitting $21.82. The company had a trading volume of 672,081 shares, compared to its average volume of 1,519,853. The firm has a 50 day simple moving average of $28.82 and a 200 day simple moving average of $29.44. Option Care Health has a 52 week low of $21.64 and a 52 week high of $34.63. The firm has a market capitalization of $3.71 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 2.30 and a beta of 1.32. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.32 and a current ratio of 1.73.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on OPCH. Truist Financial reduced their target price on Option Care Health from $41.00 to $34.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Jefferies Financial Group downgraded shares of Option Care Health from a “buy” rating to a “hold” rating and decreased their price target for the company from $38.00 to $26.00 in a research note on Thursday, October 31st. Bank of America cut Option Care Health from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $43.00 to $29.00 in a report on Wednesday, October 30th. JMP Securities raised their price objective on shares of Option Care Health from $36.00 to $37.00 and gave the company a “market outperform” rating in a report on Monday, September 30th. Finally, Barrington Research dropped their price target on shares of Option Care Health from $40.00 to $32.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Option Care Health currently has an average rating of “Moderate Buy” and a consensus target price of $30.83.

Insider Buying and Selling at Option Care Health

In other news, Director Harry M. Jansen Kraemer, Jr. acquired 43,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was purchased at an average cost of $22.54 per share, for a total transaction of $969,220.00. Following the completion of the transaction, the director now directly owns 326,334 shares in the company, valued at $7,355,568.36. This trade represents a 15.18 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Elizabeth Quadros Betten sold 47,531 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $31.09, for a total transaction of $1,477,738.79. Following the transaction, the director now owns 21,339 shares of the company’s stock, valued at approximately $663,429.51. This represents a 69.02 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.64% of the company’s stock.

Institutional Investors Weigh In On Option Care Health

Several large investors have recently added to or reduced their stakes in the business. FMR LLC boosted its position in shares of Option Care Health by 134.0% during the 3rd quarter. FMR LLC now owns 7,516,448 shares of the company’s stock valued at $235,265,000 after acquiring an additional 4,304,896 shares during the last quarter. Westfield Capital Management Co. LP grew its position in Option Care Health by 10.2% in the third quarter. Westfield Capital Management Co. LP now owns 6,492,152 shares of the company’s stock worth $203,204,000 after acquiring an additional 599,589 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Option Care Health by 7.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 5,863,930 shares of the company’s stock worth $183,541,000 after purchasing an additional 404,811 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Option Care Health by 6.5% in the second quarter. Dimensional Fund Advisors LP now owns 3,605,271 shares of the company’s stock valued at $99,870,000 after purchasing an additional 218,844 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in Option Care Health by 2.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,518,923 shares of the company’s stock worth $78,842,000 after purchasing an additional 63,955 shares in the last quarter. Institutional investors own 98.05% of the company’s stock.

Option Care Health Company Profile

Option Care Health, Inc offers home and alternate site infusion services in the United States. The company provides anti-infective therapies; home infusion services to treat heart failures; home parenteral nutrition and enteral nutrition support services for numerous acute and chronic conditions, such as stroke, cancer, and gastrointestinal diseases; immunoglobulin infusion therapies for the treatment of immune deficiencies; and treatments for chronic inflammatory disorders, including crohn’s disease, plaque psoriasis, psoriatic arthritis, rheumatoid arthritis, ulcerative colitis, and other chronic inflammatory disorders.