Bank of America Corp DE Trims Stake in Option Care Health, Inc. (NASDAQ:OPCH)

Bank of America Corp DE cut its position in Option Care Health, Inc. (NASDAQ:OPCH) by 62.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,018,134 shares of the company’s stock after selling 1,659,939 shares during the quarter. Bank of America Corp DE owned approximately 0.60% of Option Care Health worth $23,621,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in OPCH. Murphy & Mullick Capital Management Corp purchased a new stake in Option Care Health in the fourth quarter valued at approximately $26,000. UMB Bank n.a. raised its position in Option Care Health by 41.7% in the 4th quarter. UMB Bank n.a. now owns 1,176 shares of the company’s stock valued at $27,000 after purchasing an additional 346 shares during the last quarter. Signaturefd LLC raised its position in Option Care Health by 487.9% in the 4th quarter. Signaturefd LLC now owns 1,211 shares of the company’s stock valued at $28,000 after purchasing an additional 1,005 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in Option Care Health by 172.8% during the 4th quarter. Quadrant Capital Group LLC now owns 1,735 shares of the company’s stock worth $40,000 after purchasing an additional 1,099 shares during the period. Finally, Johnson Financial Group Inc. purchased a new position in Option Care Health during the 4th quarter worth $47,000. Hedge funds and other institutional investors own 98.05% of the company’s stock.

Insider Activity at Option Care Health

In other Option Care Health news, insider Michael Bavaro sold 30,996 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $33.26, for a total transaction of $1,030,926.96. Following the transaction, the insider now directly owns 44,974 shares in the company, valued at approximately $1,495,835.24. This represents a 40.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.64% of the company’s stock.

Option Care Health Price Performance

Shares of OPCH opened at $33.23 on Monday. The company has a current ratio of 1.73, a quick ratio of 1.32 and a debt-to-equity ratio of 0.77. The stock’s 50 day moving average is $33.07 and its two-hundred day moving average is $29.06. Option Care Health, Inc. has a twelve month low of $21.39 and a twelve month high of $35.53. The firm has a market capitalization of $5.44 billion, a PE ratio of 27.92, a P/E/G ratio of 2.30 and a beta of 0.76.

Option Care Health (NASDAQ:OPCH) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.36 by $0.04. Option Care Health had a return on equity of 15.30% and a net margin of 4.37%. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period last year, the firm earned $0.26 EPS. The company’s quarterly revenue was up 16.3% compared to the same quarter last year. Research analysts anticipate that Option Care Health, Inc. will post 1.22 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on OPCH shares. JPMorgan Chase & Co. upped their target price on shares of Option Care Health from $40.00 to $41.00 and gave the company an “overweight” rating in a report on Thursday, March 6th. UBS Group raised Option Care Health from a “neutral” rating to a “buy” rating and upped their price objective for the company from $38.00 to $40.00 in a research note on Wednesday, April 30th. JMP Securities reaffirmed a “market outperform” rating and set a $36.00 price objective on shares of Option Care Health in a research report on Tuesday, April 22nd. Barrington Research reissued an “outperform” rating and issued a $38.00 target price on shares of Option Care Health in a report on Wednesday, April 30th. Finally, Jefferies Financial Group upgraded Option Care Health from a “hold” rating to a “buy” rating and upped their price target for the stock from $26.00 to $35.00 in a research note on Thursday, January 23rd. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.50.

About Option Care Health

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.