Cibc World Markets Corp Makes New $373,000 Investment in Option Care Health, Inc. (NASDAQ:OPCH)

Cibc World Markets Corp purchased a new position in shares of Option Care Health, Inc. (NASDAQ:OPCH - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 16,057 shares of the company's stock, valued at approximately $373,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Madison Investment Advisors LLC acquired a new position in Option Care Health during the fourth quarter worth about $4,135,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Option Care Health by 171.3% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 394,019 shares of the company's stock worth $9,141,000 after purchasing an additional 248,762 shares during the last quarter. HighTower Advisors LLC lifted its stake in Option Care Health by 16.7% in the 4th quarter. HighTower Advisors LLC now owns 468,082 shares of the company's stock valued at $10,860,000 after buying an additional 67,021 shares in the last quarter. AlphaQuest LLC grew its holdings in Option Care Health by 417.8% during the 4th quarter. AlphaQuest LLC now owns 23,520 shares of the company's stock valued at $546,000 after buying an additional 18,978 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in Option Care Health by 5.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 28,840 shares of the company's stock worth $669,000 after buying an additional 1,509 shares in the last quarter. 98.05% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Insider Activity

In other news, insider Michael Bavaro sold 30,996 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of $33.26, for a total value of $1,030,926.96. Following the completion of the sale, the insider now owns 44,974 shares of the company's stock, valued at $1,495,835.24. This represents a 40.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Barrington Research increased their price objective on Option Care Health from $33.00 to $38.00 and gave the company an "outperform" rating in a research note on Thursday, February 27th. UBS Group began coverage on shares of Option Care Health in a research report on Thursday, December 5th. They issued a "neutral" rating and a $26.00 price objective for the company. Bank of America upgraded shares of Option Care Health from a "neutral" rating to a "buy" rating and raised their target price for the stock from $26.00 to $33.00 in a research report on Monday, January 13th. JMP Securities reiterated a "market outperform" rating and issued a $30.00 price target (down from $31.00) on shares of Option Care Health in a report on Friday, January 10th. Finally, Jefferies Financial Group upgraded Option Care Health from a "hold" rating to a "buy" rating and raised their price objective for the stock from $26.00 to $35.00 in a report on Thursday, January 23rd. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Option Care Health currently has a consensus rating of "Moderate Buy" and a consensus target price of $33.00.

Option Care Health Trading Up 0.5 %

Shares of OPCH stock traded up $0.17 on Thursday, reaching $35.20. 1,224,299 shares of the stock were exchanged, compared to its average volume of 1,643,535. Option Care Health, Inc. has a 1-year low of $21.39 and a 1-year high of $35.53. The stock has a market cap of $5.78 billion, a P/E ratio of 29.58, a price-to-earnings-growth ratio of 2.30 and a beta of 1.33. The company has a quick ratio of 1.32, a current ratio of 1.73 and a debt-to-equity ratio of 0.77. The firm has a 50 day moving average of $32.24 and a two-hundred day moving average of $28.37.

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.