Magnetar Financial LLC Has $68.75 Million Position in Option Care Health, Inc. (NASDAQ:OPCH)

Magnetar Financial LLC lifted its holdings in shares of Option Care Health, Inc. (NASDAQ:OPCH) by 124.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,481,935 shares of the company’s stock after buying an additional 1,377,929 shares during the period. Option Care Health comprises 1.4% of Magnetar Financial LLC’s holdings, making the stock its 22nd largest position. Magnetar Financial LLC owned approximately 1.43% of Option Care Health worth $68,750,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of OPCH. Hood River Capital Management LLC increased its position in Option Care Health by 77.2% during the second quarter. Hood River Capital Management LLC now owns 1,729,029 shares of the company’s stock worth $47,894,000 after buying an additional 753,208 shares during the last quarter. Gabelli Funds LLC increased its holdings in shares of Option Care Health by 1.0% during the 2nd quarter. Gabelli Funds LLC now owns 525,142 shares of the company’s stock worth $14,546,000 after acquiring an additional 5,000 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in Option Care Health by 9.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 5,459,119 shares of the company’s stock valued at $151,218,000 after acquiring an additional 455,310 shares during the period. Bridges Investment Management Inc. acquired a new stake in Option Care Health during the 2nd quarter valued at $310,000. Finally, Intech Investment Management LLC bought a new position in Option Care Health during the second quarter worth $1,014,000. Institutional investors own 98.05% of the company’s stock.

Option Care Health Stock Performance

NASDAQ OPCH opened at $31.90 on Monday. The firm’s 50 day simple moving average is $31.20 and its 200 day simple moving average is $30.44. The firm has a market capitalization of $5.54 billion, a price-to-earnings ratio of 20.99, a P/E/G ratio of 2.46 and a beta of 1.29. The company has a current ratio of 1.76, a quick ratio of 1.36 and a debt-to-equity ratio of 0.78. Option Care Health, Inc. has a 1 year low of $26.11 and a 1 year high of $34.63.

Option Care Health (NASDAQ:OPCH) last issued 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. Option Care Health had a return on equity of 14.82% and a net margin of 4.60%. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the prior year, the firm earned $0.63 EPS. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, research analysts expect that Option Care Health, Inc. will post 1.22 earnings per share for the current fiscal year.

Insider Transactions at Option Care Health

In related news, Director Elizabeth Quadros Betten sold 47,531 shares of the 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 directly owns 21,339 shares in the company, valued at $663,429.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Option Care Health news, 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 sale, the chief financial officer now directly owns 247,317 shares in the company, valued at $7,654,461.15. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Elizabeth Quadros Betten sold 47,531 shares of the stock in a transaction that occurred 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 transaction, the director now owns 21,339 shares in the company, valued at $663,429.51. The disclosure for this sale can be found here. 0.64% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

OPCH has been the subject of several recent research reports. JMP Securities initiated coverage on Option Care Health in a research report on Tuesday, July 16th. They set an “outperform” rating and a $36.00 price target on the stock. Barrington Research increased their target price on Option Care Health from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st.

Option Care Health Profile

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.