Sumitomo Mitsui Trust Group Inc. Sells 175,108 Shares of Option Care Health, Inc. $OPCH

Sumitomo Mitsui Trust Group Inc. trimmed its position in Option Care Health, Inc. (NASDAQ:OPCH) by 8.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,957,506 shares of the company’s stock after selling 175,108 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Option Care Health were worth $44,024,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of OPCH. Squarepoint Ops LLC lifted its stake in shares of Option Care Health by 234.1% during the second quarter. Squarepoint Ops LLC now owns 434,408 shares of the company’s stock worth $9,110,000 after purchasing an additional 304,376 shares in the last quarter. Raiffeisen Bank International AG raised its holdings in shares of Option Care Health by 92.3% during the 2nd quarter. Raiffeisen Bank International AG now owns 250,000 shares of the company’s stock valued at $5,330,000 after buying an additional 120,000 shares during the period. Paralel Advisors LLC purchased a new stake in shares of Option Care Health during the 2nd quarter valued at about $1,800,000. Van Berkom & Associates Inc. acquired a new position in Option Care Health during the 1st quarter worth approximately $42,739,000. Finally, Jennison Associates LLC lifted its position in shares of Option Care Health by 4.2% during the first quarter. Jennison Associates LLC now owns 1,213,025 shares of the company’s stock worth $32,655,000 after purchasing an additional 49,094 shares in the last quarter. 98.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Citizens Jmp downgraded shares of Option Care Health from a “market outperform” rating to a “hold” rating in a research report on Wednesday, October 7th. Weiss Ratings upgraded shares of Option Care Health from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, October 20th. Deutsche Bank Aktiengesellschaft cut shares of Option Care Health from a “buy” rating to a “hold” rating and reduced their price target for the stock from $26.00 to $24.00 in a research report on Thursday, July 30th. Barrington Research lowered shares of Option Care Health from an “outperform” rating to a “hold” rating in a research note on Wednesday, October 7th. Finally, William Blair lowered shares of Option Care Health from an “outperform” rating to a “market perform” rating in a research note on Tuesday, October 6th. Two analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $29.48.

Option Care Health Price Performance

OPCH opened at $31.65 on Thursday. The stock has a fifty day moving average price of $26.99 and a 200 day moving average price of $26.41. The company has a current ratio of 1.47, a quick ratio of 0.98 and a debt-to-equity ratio of 0.91. Option Care Health, Inc. has a 1 year low of $18.01 and a 1 year high of $36.80. The stock has a market cap of $4.74 billion, a price-to-earnings ratio of 20.11, a PEG ratio of 1.93 and a beta of 0.47.

Option Care Health (NASDAQ:OPCH) last announced its earnings results on Wednesday, November 4th. The company reported $0.49 earnings per share for the quarter, meeting the consensus estimate of $0.49. The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.48 billion. Option Care Health had a return on equity of 18.74% and a net margin of 3.68%. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.45 EPS. Analysts forecast that Option Care Health, Inc. will post 1.70 EPS for the current fiscal year.

Key Option Care Health News

Here are the key news stories impacting Option Care Health this week:

• Positive Sentiment: Third-quarter revenue increased 4.1% year over year to $1.49 billion, topping the $1.48 billion estimate. Adjusted EPS was $0.49, up from $0.45 a year earlier; that matched one consensus estimate and exceeded Zacks’ $0.48 forecast. Option Care Health Q3 results Zacks Q3 earnings report
• Negative Sentiment: Option Care withdrew its financial guidance because of its pending merger. The move is understandable in the context of the transaction, but leaves investors with less clarity about the company’s near-term outlook. Q3 earnings and guidance report
• Negative Sentiment: Shareholder law firms announced investigations into whether the proposed merger terms are fair. These are inquiries, not findings of wrongdoing, but could add scrutiny and uncertainty around the transaction. Merger investigation announcement

About Option Care Health

Option Care Health, Inc is an independent provider of home and alternate-site infusion services in the United States. The company coordinates and delivers infusion therapy outside traditional hospital settings, including patients’ homes, ambulatory infusion suites and other outpatient locations.

Its services include administration of anti-infective therapies, immune globulin, nutrition support, inotropic therapies and medications used in the treatment of chronic and complex conditions.