Option Care Health (NASDAQ:OPCH) Sees Large Volume Increase – Time to Buy?

Option Care Health, Inc. (NASDAQ:OPCH) shares saw strong trading volume on Thursday. 4,789,888 shares changed hands during mid-day trading, an increase of 63% from the average daily volume of 2,933,298 shares. The stock last traded at $31.6850 and had previously closed at $31.29.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on OPCH shares. William Blair downgraded shares of Option Care Health from an “outperform” rating to a “market perform” rating in a research note on Tuesday, October 6th. Jefferies Financial Group cut Option Care Health from a “buy” rating to a “hold” rating and raised their price target for the company from $28.00 to $32.05 in a research note on Tuesday, October 6th. Deutsche Bank Aktiengesellschaft downgraded Option Care Health from a “buy” rating to a “hold” rating and decreased their price target for the stock from $26.00 to $24.00 in a report on Thursday, July 30th. JPMorgan Chase & Co. cut Option Care Health from an “overweight” rating to a “neutral” rating and set a $33.00 price objective for the company. in a research report on Wednesday, October 7th. Finally, Stephens downgraded Option Care Health from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $30.00 to $24.00 in a report on Friday, July 17th. Two investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $29.48.

Option Care Health Price Performance

The company has a quick ratio of 0.98, a current ratio of 1.47 and a debt-to-equity ratio of 0.91. The stock has a market cap of $4.77 billion, a price-to-earnings ratio of 20.16, a price-to-earnings-growth ratio of 1.94 and a beta of 0.58. The stock has a fifty day moving average of $26.51 and a two-hundred day moving average of $26.47.

Option Care Health (NASDAQ:OPCH) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.43 by $0.02. Option Care Health had a net margin of 3.68% and a return on equity of 18.74%. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter last year, the business earned $0.41 earnings per share. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, equities research analysts anticipate that Option Care Health, Inc. will post 1.70 earnings per share for the current year.

Institutional Investors Weigh In On Option Care Health

Institutional investors and hedge funds have recently made changes to their positions in the business. Pinnacle Associates Ltd. boosted its stake in Option Care Health by 1.8% during the third quarter. Pinnacle Associates Ltd. now owns 20,355 shares of the company’s stock worth $458,000 after buying an additional 354 shares in the last quarter. Ascent Group LLC raised its stake in shares of Option Care Health by 3.6% in the 3rd quarter. Ascent Group LLC now owns 12,243 shares of the company’s stock valued at $275,000 after buying an additional 423 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Option Care Health by 1.3% during the 1st quarter. Pacer Advisors Inc. now owns 42,649 shares of the company’s stock worth $1,148,000 after acquiring an additional 528 shares during the period. Central Pacific Bank Trust Division boosted its position in shares of Option Care Health by 3.9% during the 3rd quarter. Central Pacific Bank Trust Division now owns 14,369 shares of the company’s stock valued at $323,000 after acquiring an additional 540 shares in the last quarter. Finally, State of Michigan Retirement System boosted its position in shares of Option Care Health by 1.6% during the 1st quarter. State of Michigan Retirement System now owns 38,159 shares of the company’s stock valued at $1,027,000 after acquiring an additional 600 shares in the last quarter. 98.05% of the stock is currently owned by hedge funds and other institutional investors.

Option Care Health Company Profile

Option Care Health, Inc is an independent provider of home and alternate-site infusion services in the United States. The company coordinates and delivers infusion therapy outside traditional hospital settings, including patients’ homes, ambulatory infusion suites and other outpatient locations.

Its services include administration of anti-infective therapies, immune globulin, nutrition support, inotropic therapies and medications used in the treatment of chronic and complex conditions.