Pinnacle Associates Ltd. Acquires 3,137 Shares of Option Care Health, Inc. (NASDAQ:OPCH)

Pinnacle Associates Ltd. increased its holdings in Option Care Health, Inc. (NASDAQ:OPCH) by 11.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 30,066 shares of the company’s stock after buying an additional 3,137 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Option Care Health were worth $1,013,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. raised its holdings in shares of Option Care Health by 937.5% in the 3rd quarter. UMB Bank n.a. now owns 830 shares of the company’s stock worth $26,000 after buying an additional 750 shares in the last quarter. GAMMA Investing LLC raised its stake in Option Care Health by 110.6% during the third quarter. GAMMA Investing LLC now owns 897 shares of the company’s stock worth $28,000 after acquiring an additional 471 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Option Care Health by 3,362.8% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,489 shares of the company’s stock valued at $47,000 after acquiring an additional 1,446 shares during the period. Blue Trust Inc. boosted its stake in shares of Option Care Health by 14.8% in the 2nd quarter. Blue Trust Inc. now owns 2,931 shares of the company’s stock valued at $81,000 after purchasing an additional 377 shares in the last quarter. Finally, SageView Advisory Group LLC acquired a new stake in shares of Option Care Health in the 1st quarter valued at $85,000. Institutional investors own 98.05% of the company’s stock.

Option Care Health Trading Up 4.6 %

OPCH opened at $24.11 on Friday. The firm has a 50 day simple moving average of $30.49 and a 200 day simple moving average of $29.91. The company has a market cap of $4.10 billion, a price-to-earnings ratio of 20.26, a price-to-earnings-growth ratio of 1.74 and a beta of 1.32. Option Care Health, Inc. has a fifty-two week low of $22.84 and a fifty-two week high of $34.63. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.73 and a quick ratio of 1.36.

Option Care Health (NASDAQ:OPCH) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.05. Option Care Health had a return on equity of 15.30% and a net margin of 4.37%. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.22 billion. On average, sell-side analysts anticipate that Option Care Health, Inc. will post 1.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on OPCH. Barrington Research reduced 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. Jefferies Financial Group lowered Option Care Health from a “buy” rating to a “hold” rating and decreased their price target for the stock from $38.00 to $26.00 in a research report on Thursday. Bank of America downgraded Option Care Health from a “buy” rating to a “neutral” rating and cut their price objective for the company from $43.00 to $29.00 in a research report on Wednesday. Truist Financial decreased their target price on Option Care Health from $41.00 to $34.00 and set a “buy” rating on the stock in a report on Friday. Finally, JMP Securities lifted their price target on Option Care Health from $36.00 to $37.00 and gave the company a “market outperform” rating in a report on Monday, September 30th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Option Care Health has a consensus rating of “Moderate Buy” and a consensus price target of $31.60.

Insider Activity

In related news, Director Elizabeth Quadros Betten sold 47,531 shares of Option Care Health 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 $663,429.51. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Option Care Health news, Director Elizabeth Quadros Betten sold 47,531 shares of Option Care Health stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $31.09, for a total transaction of $1,477,738.79. Following the transaction, the director now directly owns 21,339 shares in the company, valued at approximately $663,429.51. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Michael H. Shapiro sold 23,217 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $30.95, for a total value of $718,566.15. Following the completion of the sale, the chief financial officer now owns 247,317 shares of the company’s stock, valued at $7,654,461.15. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by company insiders.

About Option Care Health

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.