Seven Eight Capital LP Acquires 47,217 Shares of Option Care Health, Inc. (NASDAQ:OPCH)

Seven Eight Capital LP grew its holdings in shares of Option Care Health, Inc. (NASDAQ:OPCH) by 100.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 94,088 shares of the company’s stock after acquiring an additional 47,217 shares during the quarter. Seven Eight Capital LP’s holdings in Option Care Health were worth $2,606,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Principal Securities Inc. purchased a new position in shares of Option Care Health during the 4th quarter valued at about $27,000. Parallel Advisors LLC increased its position in shares of Option Care Health by 130.2% during the fourth quarter. Parallel Advisors LLC now owns 845 shares of the company’s stock valued at $28,000 after buying an additional 478 shares during the period. TFO Wealth Partners LLC increased its position in shares of Option Care Health by 24,625.0% during the fourth quarter. TFO Wealth Partners LLC now owns 989 shares of the company’s stock valued at $33,000 after buying an additional 985 shares during the period. Park Place Capital Corp lifted its holdings in Option Care Health by 48.4% in the first quarter. Park Place Capital Corp now owns 1,140 shares of the company’s stock worth $38,000 after buying an additional 372 shares during the period. Finally, Blue Trust Inc. lifted its stake in shares of Option Care Health by 14.8% in the 2nd quarter. Blue Trust Inc. now owns 2,931 shares of the company’s stock valued at $81,000 after purchasing an additional 377 shares during the period. Hedge funds and other institutional investors own 98.05% of the company’s stock.

Option Care Health Stock Performance

OPCH opened at $31.26 on Wednesday. The stock has a market capitalization of $5.43 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 2.46 and a beta of 1.29. Option Care Health, Inc. has a fifty-two week low of $26.11 and a fifty-two week high of $34.89. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.36 and a current ratio of 1.76. The company has a fifty day moving average of $31.03 and a 200 day moving average of $30.47.

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 the consensus estimate 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 firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the previous year, the firm posted $0.63 earnings per share. The business’s revenue was up 14.8% compared to the same quarter last year. As a group, sell-side analysts forecast 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, CFO Michael H. Shapiro sold 23,217 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $30.95, for a total value of $718,566.15. Following the sale, the chief financial officer now owns 247,317 shares in the company, valued at $7,654,461.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Elizabeth Quadros Betten sold 47,531 shares of Option Care Health 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 completion of the transaction, the director now owns 21,339 shares in the company, valued at approximately $663,429.51. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Michael H. Shapiro sold 23,217 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $30.95, for a total value of $718,566.15. Following the sale, the chief financial officer now owns 247,317 shares in the company, valued at approximately $7,654,461.15. The disclosure for this sale can be found here. Insiders own 0.64% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. JMP Securities initiated coverage on Option Care Health in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $36.00 price target on the stock. Barrington Research boosted their price objective on shares of Option Care Health from $38.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, August 1st.

About Option Care Health

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.