Option Care Health (NASDAQ:OPCH) Trading Down 6% After Analyst Downgrade

Option Care Health, Inc. (NASDAQ:OPCH) dropped 6% on Monday after The Goldman Sachs Group downgraded the stock from a buy rating to a neutral rating. The Goldman Sachs Group now has a $27.00 price target on the stock. Option Care Health traded as low as $22.66 and last traded at $22.66. Approximately 176,542 shares changed hands during trading, a decline of 88% from the average daily volume of 1,467,324 shares. The stock had previously closed at $24.11.

Several other brokerages have also issued reports on OPCH. Bank of America lowered Option Care Health from a “buy” rating to a “neutral” rating and cut their price target for the stock from $43.00 to $29.00 in a report on Wednesday, October 30th. Barrington Research dropped their price objective on Option Care Health from $40.00 to $32.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Truist Financial cut their target price on Option Care Health from $41.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday. JMP Securities increased their price target on shares of Option Care Health from $36.00 to $37.00 and gave the company a “market outperform” rating in a research report on Monday, September 30th. Finally, Jefferies Financial Group lowered Option Care Health from a “buy” rating to a “hold” rating and lowered their target price for the company from $38.00 to $26.00 in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $30.83.

Insider Buying and Selling

In related news, Director Elizabeth Quadros Betten sold 47,531 shares of the 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 sale, the director now owns 21,339 shares of the company’s stock, valued at approximately $663,429.51. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Elizabeth Quadros Betten sold 47,531 shares of the business’s 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael H. Shapiro sold 23,217 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $30.95, for a total transaction of $718,566.15. Following the completion of the transaction, the chief financial officer now owns 247,317 shares in the company, valued at approximately $7,654,461.15. This trade 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 owned by insiders.

Hedge Funds Weigh In On Option Care Health

Institutional investors have recently modified their holdings of the company. Thrivent Financial for Lutherans boosted its stake in Option Care Health by 9.1% in the second quarter. Thrivent Financial for Lutherans now owns 5,459,119 shares of the company’s stock worth $151,218,000 after buying an additional 455,310 shares in the last quarter. Westfield Capital Management Co. LP lifted its holdings in shares of Option Care Health by 15.4% in the 1st quarter. Westfield Capital Management Co. LP now owns 5,171,385 shares of the company’s stock worth $173,448,000 after acquiring an additional 688,653 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Option Care Health by 6.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,605,271 shares of the company’s stock valued at $99,870,000 after purchasing an additional 218,844 shares in the last quarter. Magnetar Financial LLC grew its holdings in shares of Option Care Health by 124.8% during the 2nd quarter. Magnetar Financial LLC now owns 2,481,935 shares of the company’s stock valued at $68,750,000 after purchasing an additional 1,377,929 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new position in Option Care Health in the 2nd quarter worth $68,003,000. 98.05% of the stock is currently owned by institutional investors.

Option Care Health Price Performance

The firm’s 50 day simple moving average is $30.31 and its two-hundred day simple moving average is $29.85. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.73 and a quick ratio of 1.36. The firm has a market capitalization of $3.83 billion, a P/E ratio of 18.90, a P/E/G ratio of 1.74 and a beta of 1.32.

Option Care Health Company 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.