Option Care Health, Inc. (NASDAQ:OPCH) Short Interest Down 24.7% in October

Option Care Health, Inc. (NASDAQ:OPCH) was the recipient of a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 4,420,000 shares, a decrease of 24.7% from the October 15th total of 5,870,000 shares. Based on an average daily trading volume, of 1,700,000 shares, the days-to-cover ratio is currently 2.6 days. Currently, 2.6% of the company’s shares are sold short.

Option Care Health Stock Down 1.2 %

Shares of OPCH stock traded down $0.26 during trading hours on Friday, reaching $21.93. 1,974,267 shares of the company’s stock were exchanged, compared to its average volume of 2,698,041. Option Care Health has a fifty-two week low of $21.64 and a fifty-two week high of $34.63. The stock’s 50 day moving average is $28.62 and its 200-day moving average is $29.37. The company has a current ratio of 1.73, a quick ratio of 1.32 and a debt-to-equity ratio of 0.77. The company has a market cap of $3.73 billion, a price-to-earnings ratio of 18.43, a P/E/G ratio of 2.27 and a beta of 1.32.

Wall Street Analyst Weigh In

Several research firms have recently commented on OPCH. JMP Securities boosted 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 report on Monday, September 30th. Jefferies Financial Group downgraded shares of Option Care Health from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $38.00 to $26.00 in a research note on Thursday, October 31st. The Goldman Sachs Group lowered Option Care Health from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $38.00 to $27.00 in a report on Monday, November 4th. Bank of America downgraded Option Care Health from a “buy” rating to a “neutral” rating and cut their price target for the company from $43.00 to $29.00 in a report on Wednesday, October 30th. Finally, Barrington Research decreased their price objective on Option Care Health from $40.00 to $32.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.83.

Insider Transactions at Option Care Health

In other news, Director Elizabeth Quadros Betten sold 47,531 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $31.09, for a total transaction of $1,477,738.79. Following the transaction, the director now directly owns 21,339 shares of the company’s stock, valued at approximately $663,429.51. This trade represents a 69.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Michael H. Shapiro sold 23,217 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now owns 247,317 shares in the company, valued at $7,654,461.15. The trade was a 8.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.64% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in OPCH. FMR LLC boosted its holdings in Option Care Health by 134.0% in the third quarter. FMR LLC now owns 7,516,448 shares of the company’s stock worth $235,265,000 after acquiring an additional 4,304,896 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of Option Care Health in the 2nd quarter valued at approximately $68,003,000. Victory Capital Management Inc. raised its position in shares of Option Care Health by 4,432.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,621,593 shares of the company’s stock valued at $50,756,000 after purchasing an additional 1,585,818 shares during the last quarter. Magnetar Financial LLC boosted its stake in Option Care Health by 124.8% in the 2nd quarter. Magnetar Financial LLC now owns 2,481,935 shares of the company’s stock worth $68,750,000 after purchasing an additional 1,377,929 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in Option Care Health by 15.5% during the 3rd quarter. Wellington Management Group LLP now owns 9,924,915 shares of the company’s stock worth $310,650,000 after purchasing an additional 1,328,326 shares during the last quarter. 98.05% of the stock is owned by institutional investors and hedge funds.

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.