Short Interest in Option Care Health, Inc. (NASDAQ:OPCH) Declines By 24.7%

Option Care Health, Inc. (NASDAQ:OPCH) was the recipient of a significant decline in short interest during the month of 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 shares are short sold. Based on an average daily volume of 1,700,000 shares, the days-to-cover ratio is currently 2.6 days.

Insider Buying and Selling at Option Care Health

In other Option Care Health news, Director Harry M. Jansen Kraemer, Jr. bought 43,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were bought at an average cost of $22.54 per share, with a total value of $969,220.00. Following the completion of the purchase, the director now directly owns 326,334 shares of the company’s stock, valued at $7,355,568.36. This trade represents a 15.18 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Michael H. Shapiro sold 23,217 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $30.95, for a total value of $718,566.15. Following the transaction, the chief financial officer now directly owns 247,317 shares of the company’s stock, valued at $7,654,461.15. The trade was a 8.58 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.64% of the company’s stock.

Hedge Funds Weigh In On Option Care Health

Several institutional investors have recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of Option Care Health by 134.0% in 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. Massachusetts Financial Services Co. MA purchased a new stake in Option Care Health during the second quarter valued at approximately $68,003,000. Victory Capital Management Inc. lifted its stake in shares of Option Care Health by 4,432.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,621,593 shares of the company’s stock valued at $50,756,000 after purchasing an additional 1,585,818 shares during the last quarter. Magnetar Financial LLC lifted its stake in shares of Option Care Health by 124.8% in the 2nd quarter. Magnetar Financial LLC now owns 2,481,935 shares of the company’s stock valued at $68,750,000 after purchasing an additional 1,377,929 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Option Care Health by 15.5% in the 3rd quarter. Wellington Management Group LLP now owns 9,924,915 shares of the company’s stock worth $310,650,000 after purchasing an additional 1,328,326 shares during the period. Hedge funds and other institutional investors own 98.05% of the company’s stock.

Option Care Health Price Performance

Shares of Option Care Health stock traded down $0.26 during trading hours on Friday, hitting $21.93. The company’s stock had a trading volume of 1,974,267 shares, compared to its average volume of 2,698,041. The company has a market cap of $3.73 billion, a PE ratio of 18.43, a PEG ratio of 2.27 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. The business has a 50 day moving average price of $28.62 and a two-hundred day moving average price of $29.37. Option Care Health has a 12-month low of $21.64 and a 12-month high of $34.63.

Analyst Ratings Changes

A number of research firms have issued reports on OPCH. The Goldman Sachs Group downgraded Option Care Health from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $38.00 to $27.00 in a report on Monday, November 4th. Truist Financial decreased their target price on shares of 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. Bank of America downgraded Option Care Health from a “buy” rating to a “neutral” rating and cut their price target for the stock from $43.00 to $29.00 in a research note on Wednesday, October 30th. Jefferies Financial Group cut Option Care Health from a “buy” rating to a “hold” rating and lowered their price objective for the company from $38.00 to $26.00 in a research note on Thursday, October 31st. Finally, JMP Securities increased their target price on Option Care Health from $36.00 to $37.00 and gave the stock a “market outperform” rating in a research note on Monday, September 30th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.83.

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.