Option Care Health (NASDAQ:OPCH) Rating Lowered to Neutral at Bank of America

Option Care Health (NASDAQ:OPCH) was downgraded by equities researchers at Bank of America from a “buy” rating to a “neutral” rating in a report released on Wednesday, Briefing.com reports. They currently have a $29.00 target price on the stock, down from their previous target price of $43.00. Bank of America‘s price objective suggests a potential upside of 21.90% from the stock’s previous close.

A number of other analysts have also issued reports on the stock. JMP Securities boosted their price target on shares of 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. Barrington Research restated an “outperform” rating and issued a $40.00 price target on shares of Option Care Health in a research report on Wednesday, October 23rd.

Option Care Health Stock Performance

Shares of NASDAQ:OPCH traded down $6.71 during trading on Wednesday, hitting $23.79. 7,195,222 shares of the stock traded hands, compared to its average volume of 1,418,832. The company has a market cap of $4.07 billion, a price-to-earnings ratio of 20.21, a P/E/G ratio of 2.31 and a beta of 1.29. The company has a fifty day moving average price of $30.96 and a two-hundred day moving average price of $30.06. The company has a quick ratio of 1.36, a current ratio of 1.76 and a debt-to-equity ratio of 0.78. Option Care Health has a 52-week low of $23.42 and a 52-week high of $34.63.

Option Care Health (NASDAQ:OPCH) last released its earnings results on Wednesday, July 31st. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.17 billion. Option Care Health had a net margin of 4.60% and a return on equity of 14.82%. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.63 earnings per share. As a group, equities analysts predict that Option Care Health will post 1.22 EPS for the current year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Option Care Health

Institutional investors and hedge funds have recently bought and sold shares of the business. UMB Bank n.a. boosted its position in shares of Option Care Health by 937.5% during the third quarter. UMB Bank n.a. now owns 830 shares of the company’s stock worth $26,000 after buying an additional 750 shares during the period. GAMMA Investing LLC increased its stake in Option Care Health by 110.6% during the 3rd quarter. GAMMA Investing LLC now owns 897 shares of the company’s stock worth $28,000 after acquiring an additional 471 shares during the period. Whittier Trust Co. of Nevada Inc. increased its stake in Option Care Health by 3,362.8% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,489 shares of the company’s stock worth $47,000 after acquiring an additional 1,446 shares during the period. SageView Advisory Group LLC bought a new position in Option Care Health during the 1st quarter worth $85,000. Finally, International Assets Investment Management LLC boosted its holdings in shares of Option Care Health by 3,029.7% in the 3rd quarter. International Assets Investment Management LLC now owns 2,848 shares of the company’s stock valued at $91,000 after purchasing an additional 2,757 shares in the last quarter. Institutional investors and hedge funds own 98.05% of the company’s stock.

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.