Option Care Health (NASDAQ:OPCH) Price Target Raised to $42.00

Option Care Health (NASDAQ:OPCH) had its price target increased by stock analysts at Barrington Research from $38.00 to $42.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Barrington Research’s price target indicates a potential upside of 16.31% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Bank of America boosted their price objective on Option Care Health from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, December 9th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Option Care Health from $31.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, December 9th. Wall Street Zen raised shares of Option Care Health from a “hold” rating to a “buy” rating in a report on Saturday, January 10th. Truist Financial set a $40.00 price objective on shares of Option Care Health in a research note on Tuesday. Finally, Jefferies Financial Group restated a “buy” rating and set a $37.00 target price on shares of Option Care Health in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $37.50.

Option Care Health Stock Performance

Shares of OPCH opened at $36.11 on Friday. Option Care Health has a 1 year low of $24.24 and a 1 year high of $36.18. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.56 and a quick ratio of 1.05. The stock’s fifty day moving average price is $31.33 and its two-hundred day moving average price is $29.51. The firm has a market cap of $5.73 billion, a PE ratio of 28.66, a PEG ratio of 2.12 and a beta of 0.80.

Insider Buying and Selling

In other news, Director Harry M. Jansen Kraemer, Jr. purchased 38,000 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was purchased at an average cost of $25.98 per share, with a total value of $987,240.00. Following the acquisition, the director directly owned 413,390 shares in the company, valued at approximately $10,739,872.20. This trade represents a 10.12% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.64% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Option Care Health

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OPCH. Durable Capital Partners LP boosted its position in shares of Option Care Health by 134.2% during the 2nd quarter. Durable Capital Partners LP now owns 8,237,577 shares of the company’s stock valued at $267,557,000 after acquiring an additional 4,720,988 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Option Care Health by 17.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 4,001,307 shares of the company’s stock valued at $111,076,000 after purchasing an additional 590,913 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Option Care Health by 6.6% in the third quarter. Dimensional Fund Advisors LP now owns 3,796,396 shares of the company’s stock valued at $105,384,000 after purchasing an additional 235,413 shares in the last quarter. Norges Bank bought a new stake in Option Care Health during the second quarter valued at approximately $69,932,000. Finally, Jennison Associates LLC grew its stake in Option Care Health by 145.6% in the 2nd quarter. Jennison Associates LLC now owns 2,138,248 shares of the company’s stock worth $69,450,000 after buying an additional 1,267,660 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 (NASDAQ: OPCH) is a leading provider of home and alternate site infusion services in the United States. The company specializes in the administration of injectable therapies, including antibiotics, nutrition, hydration, immunoglobulin, pain management and specialty pharmaceuticals. Through its nationwide network of infusion pharmacies and nursing professionals, Option Care Health delivers customized care plans and in-home nursing visits to patients managing complex or chronic conditions outside of a hospital setting.

Option Care Health traces its current structure to the completion of its merger with BioScrip in early 2021, combining two of the industry’s most experienced home infusion businesses.