Verition Fund Management LLC boosted its holdings in shares of Option Care Health, Inc. (NASDAQ:OPCH) by 9.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 122,016 shares of the company’s stock after acquiring an additional 10,322 shares during the quarter. Verition Fund Management LLC owned 0.07% of Option Care Health worth $2,165,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Neo Ivy Capital Management purchased a new position in Option Care Health during the 4th quarter valued at $91,000. Strs Ohio boosted its holdings in Option Care Health by 64.9% during the 1st quarter. Strs Ohio now owns 9,400 shares of the company’s stock valued at $166,000 after acquiring an additional 3,700 shares during the period. Qtron Investments LLC purchased a new position in Option Care Health during the 1st quarter valued at $190,000. Clearbridge Investments LLC purchased a new position in Option Care Health during the 1st quarter valued at $202,000. Finally, Amalgamated Bank purchased a new position in Option Care Health during the 1st quarter valued at $203,000. Institutional investors own 47.64% of the company’s stock.
In related news, CEO John Charles Rademacher bought 10,000 shares of the stock in a transaction dated Tuesday, May 11th. The shares were purchased at an average price of $16.42 per share, for a total transaction of $164,200.00. Following the completion of the purchase, the chief executive officer now directly owns 10,000 shares of the company’s stock, valued at $164,200. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Harry M. Jansen Kraemer, Jr. bought 40,000 shares of the stock in a transaction dated Wednesday, May 19th. The stock was bought at an average price of $17.59 per share, for a total transaction of $703,600.00. Following the purchase, the director now directly owns 83,760 shares of the company’s stock, valued at $1,473,338.40. The disclosure for this purchase can be found here. Insiders bought 53,355 shares of company stock worth $922,938 over the last three months. Corporate insiders own 47.00% of the company’s stock.
Option Care Health (NASDAQ:OPCH) last announced its quarterly earnings data on Thursday, May 6th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). The firm had revenue of $759.20 million during the quarter, compared to analyst estimates of $752.47 million. Option Care Health had a net margin of 0.29% and a return on equity of 0.92%. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.11) earnings per share. On average, equities analysts expect that Option Care Health, Inc. will post 0.36 earnings per share for the current year.
Several brokerages have weighed in on OPCH. Zacks Investment Research cut Option Care Health from a “hold” rating to a “sell” rating in a report on Wednesday, July 14th. The Goldman Sachs Group upgraded Option Care Health from a “neutral” rating to a “buy” rating and upped their target price for the stock from $20.00 to $25.00 in a report on Monday. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $22.36.
Option Care Health Company Profile
Option Care Health, Inc offers home and alternate site infusion services in the United States. The company provides immunoglobulin infusion therapies for the treatment of immune deficiencies; anti-infective therapies and services; home infusion services to treat heart failures; and treatments for chronic inflammatory disorders, including Crohn's disease, plaque psoriasis, psoriatic arthritis, rheumatoid arthritis, ulcerative colitis, and other chronic inflammatory disorders; and immunoglobulin infusion therapies.
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