Corebridge Financial Inc. Cuts Holdings in Option Care Health, Inc. (NASDAQ:OPCH)

Corebridge Financial Inc. lessened its position in shares of Option Care Health, Inc. (NASDAQ:OPCH) by 5.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 276,685 shares of the company’s stock after selling 16,027 shares during the quarter. Corebridge Financial Inc.’s holdings in Option Care Health were worth $6,419,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. UMB Bank n.a. grew its holdings in shares of Option Care Health by 41.7% during the 4th quarter. UMB Bank n.a. now owns 1,176 shares of the company’s stock worth $27,000 after purchasing an additional 346 shares during the period. Signaturefd LLC lifted its position in Option Care Health by 487.9% during the fourth quarter. Signaturefd LLC now owns 1,211 shares of the company’s stock valued at $28,000 after buying an additional 1,005 shares in the last quarter. Quarry LP raised its stake in shares of Option Care Health by 327.7% in the 3rd quarter. Quarry LP now owns 3,430 shares of the company’s stock valued at $107,000 after acquiring an additional 2,628 shares during the period. Blue Trust Inc. lifted its holdings in shares of Option Care Health by 16.9% during the 4th quarter. Blue Trust Inc. now owns 4,703 shares of the company’s stock valued at $109,000 after acquiring an additional 681 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its position in Option Care Health by 2,621.3% during the 4th quarter. Venturi Wealth Management LLC now owns 4,735 shares of the company’s stock worth $110,000 after purchasing an additional 4,561 shares during the period. 98.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on OPCH. JMP Securities restated a “market outperform” rating and set a $30.00 price objective (down previously from $31.00) on shares of Option Care Health in a research note on Friday, January 10th. Bank of America raised shares of Option Care Health from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $26.00 to $33.00 in a research report on Monday, January 13th. UBS Group initiated coverage on shares of Option Care Health in a report on Thursday, December 5th. They set a “neutral” rating and a $26.00 price target for the company. Barrington Research boosted their price objective on shares of Option Care Health from $33.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. Finally, Jefferies Financial Group raised shares of Option Care Health from a “hold” rating to a “buy” rating and upped their price objective for the company from $26.00 to $35.00 in a research report on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Option Care Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

Option Care Health Price Performance

OPCH opened at $34.73 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.32 and a current ratio of 1.73. Option Care Health, Inc. has a 1-year low of $21.39 and a 1-year high of $35.53. The company has a 50-day moving average of $32.47 and a 200-day moving average of $28.44. The company has a market capitalization of $5.70 billion, a P/E ratio of 29.18, a PEG ratio of 2.30 and a beta of 1.33.

Insider Activity at Option Care Health

In other news, insider Michael Bavaro sold 30,996 shares of Option Care Health stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $33.26, for a total value of $1,030,926.96. Following the completion of the transaction, the insider now owns 44,974 shares in the company, valued at approximately $1,495,835.24. This trade represents a 40.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.64% of the stock is owned by corporate insiders.

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.