Sumitomo Mitsui Trust Group Inc. decreased its stake in Option Care Health, Inc. (NASDAQ:OPCH – Free Report) by 8.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,957,506 shares of the company’s stock after selling 175,108 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 1.31% of Option Care Health worth $44,024,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of OPCH. Reyes Financial Architecture Inc. purchased a new position in Option Care Health during the 3rd quarter worth approximately $28,000. Harbor Investment Advisory LLC acquired a new stake in shares of Option Care Health in the second quarter valued at approximately $48,000. Nykredit A S purchased a new position in shares of Option Care Health during the second quarter worth approximately $56,000. Nisa Investment Advisors LLC grew its position in shares of Option Care Health by 268.9% during the third quarter. Nisa Investment Advisors LLC now owns 2,955 shares of the company’s stock worth $66,000 after acquiring an additional 2,154 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Option Care Health during the second quarter worth approximately $66,000. 98.05% of the stock is currently owned by institutional investors and hedge funds.
More Option Care Health News
Here are the key news stories impacting Option Care Health this week:
- Positive Sentiment: Third-quarter revenue increased 4.1% year over year to $1.49 billion, topping the $1.48 billion estimate. Adjusted EPS was $0.49, up from $0.45 a year earlier; that matched one consensus estimate and exceeded Zacks’ $0.48 forecast. Option Care Health Q3 results Zacks Q3 earnings report
- Negative Sentiment: Option Care withdrew its financial guidance because of its pending merger. The move is understandable in the context of the transaction, but leaves investors with less clarity about the company’s near-term outlook. Q3 earnings and guidance report
- Negative Sentiment: Shareholder law firms announced investigations into whether the proposed merger terms are fair. These are inquiries, not findings of wrongdoing, but could add scrutiny and uncertainty around the transaction. Merger investigation announcement
Option Care Health Stock Down 0.4%
Shares of Option Care Health stock opened at $31.65 on Thursday. The company has a market cap of $4.74 billion, a P/E ratio of 20.11, a PEG ratio of 1.93 and a beta of 0.47. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.98 and a current ratio of 1.47. Option Care Health, Inc. has a one year low of $18.01 and a one year high of $36.80. The firm has a fifty day moving average of $26.99 and a two-hundred day moving average of $26.41.
Option Care Health (NASDAQ:OPCH – Get Free Report) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $0.49 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.49. Option Care Health had a return on equity of 18.74% and a net margin of 3.68%. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the previous year, the company earned $0.45 EPS. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, analysts forecast that Option Care Health, Inc. will post 1.70 earnings per share for the current year.
Analysts Set New Price Targets
A number of research analysts have commented on OPCH shares. Barrington Research lowered shares of Option Care Health from an “outperform” rating to a “hold” rating in a research note on Wednesday, October 7th. Weiss Ratings raised Option Care Health from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, October 20th. Truist Financial set a $32.05 price target on Option Care Health in a research report on Wednesday, October 7th. Deutsche Bank Aktiengesellschaft downgraded Option Care Health from a “buy” rating to a “hold” rating and reduced their price objective for the company from $26.00 to $24.00 in a research note on Thursday, July 30th. Finally, Jefferies Financial Group cut Option Care Health from a “buy” rating to a “hold” rating and increased their price objective for the stock from $28.00 to $32.05 in a research report on Tuesday, October 6th. Two research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $29.48.
Check Out Our Latest Analysis on Option Care Health
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.
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