Option Care Health, Inc. (NASDAQ:OPCH) Short Interest Down 34.8% in December

Option Care Health, Inc. (NASDAQ:OPCH) was the target of a large drop in short interest in December. As of December 31st, there was short interest totalling 3,800,000 shares, a drop of 34.8% from the December 15th total of 5,830,000 shares. Currently, 2.3% of the company’s stock are sold short. Based on an average daily volume of 2,120,000 shares, the days-to-cover ratio is currently 1.8 days.

Analyst Upgrades and Downgrades

OPCH has been the subject of a number of analyst reports. UBS Group assumed coverage on shares of Option Care Health in a research note on Thursday, December 5th. They issued a “neutral” rating and a $26.00 price objective for the company. Truist Financial decreased their price target on shares of Option Care Health from $41.00 to $34.00 and set a “buy” rating for the company in a report on Friday, November 1st. JMP Securities reiterated a “market outperform” rating and issued a $30.00 price objective (down from $31.00) on shares of Option Care Health in a research note on Friday. Jefferies Financial Group downgraded Option Care Health from a “buy” rating to a “hold” rating and decreased their target price for the company from $38.00 to $26.00 in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group downgraded Option Care Health from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $38.00 to $27.00 in a research report on Monday, November 4th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $29.71.

Insider Activity

In related news, Director Harry M. Jansen Kraemer, Jr. acquired 43,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were acquired at an average cost of $22.54 per share, with a total value of $969,220.00. Following the purchase, the director now owns 326,334 shares of the company’s stock, valued at approximately $7,355,568.36. The trade was a 15.18 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.64% of the stock is owned by insiders.

Hedge Funds Weigh In On Option Care Health

A number of hedge funds have recently made changes to their positions in OPCH. Westfield Capital Management Co. LP increased its stake in Option Care Health by 10.2% in the third quarter. Westfield Capital Management Co. LP now owns 6,492,152 shares of the company’s stock valued at $203,204,000 after acquiring an additional 599,589 shares during the period. Global Alpha Capital Management Ltd. grew its stake in shares of Option Care Health by 108.3% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 49,818 shares of the company’s stock valued at $1,559,000 after purchasing an additional 25,905 shares during the period. Victory Capital Management Inc. raised its holdings 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 worth $50,756,000 after buying an additional 1,585,818 shares in the last quarter. Graypoint LLC bought a new position in shares of Option Care Health during the 4th quarter worth approximately $1,161,000. Finally, Edgestream Partners L.P. boosted its stake in Option Care Health by 96.8% in the 2nd quarter. Edgestream Partners L.P. now owns 351,476 shares of the company’s stock valued at $9,736,000 after buying an additional 172,845 shares in the last quarter. Institutional investors and hedge funds own 98.05% of the company’s stock.

Option Care Health Stock Performance

OPCH opened at $27.72 on Tuesday. The stock’s 50 day simple moving average is $23.20 and its 200-day simple moving average is $27.69. 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 stock has a market cap of $4.72 billion, a PE ratio of 23.29, a P/E/G ratio of 2.43 and a beta of 1.31. Option Care Health has a 1 year low of $21.39 and a 1 year high of $34.63.

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.