Magnetar Financial LLC Takes Position in Option Care Health, Inc. $OPCH

Magnetar Financial LLC bought a new stake in Option Care Health, Inc. (NASDAQ:OPCH) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 50,613 shares of the company’s stock, valued at approximately $1,405,000.

Several other hedge funds also recently bought and sold shares of OPCH. Cornerstone Planning Group LLC grew its stake in shares of Option Care Health by 7,621.4% in the 3rd quarter. Cornerstone Planning Group LLC now owns 1,081 shares of the company’s stock valued at $30,000 after buying an additional 1,067 shares in the last quarter. McIlrath & Eck LLC bought a new position in Option Care Health during the second quarter valued at approximately $37,000. Hantz Financial Services Inc. lifted its stake in Option Care Health by 987.7% in the third quarter. Hantz Financial Services Inc. now owns 1,414 shares of the company’s stock valued at $39,000 after acquiring an additional 1,284 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in Option Care Health in the second quarter valued at approximately $40,000. Finally, EverSource Wealth Advisors LLC grew its position in Option Care Health by 528.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,407 shares of the company’s stock worth $46,000 after acquiring an additional 1,183 shares in the last quarter. 98.05% of the stock is owned by institutional investors and hedge funds.

Option Care Health Trading Down 1.3%

OPCH stock opened at $29.39 on Friday. Option Care Health, Inc. has a 1-year low of $24.24 and a 1-year high of $36.80. The company has a current ratio of 1.53, a quick ratio of 0.96 and a debt-to-equity ratio of 0.87. The business’s 50 day moving average is $33.64 and its 200-day moving average is $30.70. The firm has a market cap of $4.60 billion, a P/E ratio of 22.96, a P/E/G ratio of 1.67 and a beta of 0.85.

Option Care Health (NASDAQ:OPCH) last issued its earnings results on Tuesday, February 24th. The company reported $0.46 EPS for the quarter, meeting the consensus estimate of $0.46. Option Care Health had a net margin of 3.67% and a return on equity of 18.57%. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the company earned $0.44 EPS. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. Equities analysts anticipate that Option Care Health, Inc. will post 1.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on OPCH. Citigroup reissued an “outperform” rating on shares of Option Care Health in a research report on Tuesday, January 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Option Care Health in a research report on Monday, December 29th. TD Cowen reiterated a “hold” rating on shares of Option Care Health in a research note on Tuesday, January 27th. Truist Financial set a $40.00 price objective on Option Care Health in a report on Tuesday, January 13th. Finally, Wall Street Zen lowered Option Care Health from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.27.

About Option Care Health

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.