Option Care Health (NASDAQ:OPCH) Hits New 12-Month High After Analyst Upgrade

Option Care Health, Inc. (NASDAQ:OPCH)’s stock price hit a new 52-week high during trading on Wednesday after Morgan Stanley raised their price target on the stock from $35.00 to $38.00. Morgan Stanley currently has an overweight rating on the stock. Option Care Health traded as high as $35.54 and last traded at $35.51, with a volume of 2546139 shares. The stock had previously closed at $34.75.

A number of other equities research analysts have also weighed in on the company. Citizens Jmp reissued a “market outperform” rating and issued a $38.00 target price (up previously from $36.00) on shares of Option Care Health in a research note on Tuesday. Bank of America boosted their price objective on Option Care Health from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, December 9th. Barrington Research restated an “outperform” rating and issued a $38.00 target price on shares of Option Care Health in a report on Friday, October 31st. Citigroup reiterated an “outperform” rating on shares of Option Care Health in a report on Tuesday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Option Care Health in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.17.

Insider Buying and Selling

In other news, Director Harry M. Jansen Kraemer, Jr. acquired 38,000 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were acquired at an average cost of $25.98 per share, with a total value of $987,240.00. Following the transaction, the director owned 413,390 shares in the company, valued at $10,739,872.20. The trade was a 10.12% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.64% of the stock is owned by company insiders.

Hedge Funds Weigh In On Option Care Health

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OPCH. Wedge Capital Management L L P NC increased its holdings in shares of Option Care Health by 7.8% in the 4th quarter. Wedge Capital Management L L P NC now owns 153,356 shares of the company’s stock worth $4,886,000 after purchasing an additional 11,032 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in Option Care Health by 8.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 30,153 shares of the company’s stock worth $961,000 after buying an additional 2,401 shares in the last quarter. Dakota Wealth Management purchased a new position in Option Care Health in the 4th quarter worth about $217,000. Trust Point Inc. boosted its holdings in shares of Option Care Health by 25.9% during the 4th quarter. Trust Point Inc. now owns 10,962 shares of the company’s stock valued at $349,000 after acquiring an additional 2,257 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH grew its stake in shares of Option Care Health by 13.1% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 1,437,411 shares of the company’s stock worth $45,796,000 after acquiring an additional 166,726 shares during the period. 98.05% of the stock is owned by institutional investors.

Option Care Health Price Performance

The stock has a market capitalization of $5.64 billion, a PE ratio of 28.18, a PEG ratio of 2.00 and a beta of 0.80. The firm’s fifty day moving average price is $30.98 and its two-hundred day moving average price is $29.42. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.85.

About Option Care Health

Option Care Health (NASDAQ: OPCH) is a leading provider of home and alternate site infusion services in the United States. The company specializes in the administration of injectable therapies, including antibiotics, nutrition, hydration, immunoglobulin, pain management and specialty pharmaceuticals. Through its nationwide network of infusion pharmacies and nursing professionals, Option Care Health delivers customized care plans and in-home nursing visits to patients managing complex or chronic conditions outside of a hospital setting.

Option Care Health traces its current structure to the completion of its merger with BioScrip in early 2021, combining two of the industry’s most experienced home infusion businesses.