Franklin Resources Inc. reduced its position in Option Care Health, Inc. (NASDAQ:OPCH - Free Report) by 77.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 194,674 shares of the company's stock after selling 667,513 shares during the period. Franklin Resources Inc. owned approximately 0.11% of Option Care Health worth $4,516,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. JPMorgan Chase & Co. raised its position in shares of Option Care Health by 29.6% in the 4th quarter. JPMorgan Chase & Co. now owns 1,511,403 shares of the company's stock valued at $35,065,000 after purchasing an additional 344,875 shares in the last quarter. Graypoint LLC bought a new position in Option Care Health during the 4th quarter valued at $1,161,000. Charles Schwab Investment Management Inc. grew its holdings in Option Care Health by 6.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,510,131 shares of the company's stock worth $58,235,000 after acquiring an additional 147,054 shares in the last quarter. Global Alpha Capital Management Ltd. raised its stake in shares of Option Care Health by 38.1% in the 4th quarter. Global Alpha Capital Management Ltd. now owns 68,810 shares of the company's stock valued at $1,596,000 after purchasing an additional 18,992 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Option Care Health during the fourth quarter worth about $327,000. 98.05% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Option Care Health
In other news, insider Michael Bavaro sold 30,996 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 44,974 shares in the company, valued at $1,495,835.24. This trade represents a 40.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.64% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have commented on OPCH. Jefferies Financial Group raised Option Care Health from a "hold" rating to a "buy" rating and increased their target price for the stock from $26.00 to $35.00 in a report on Thursday, January 23rd. JPMorgan Chase & Co. increased their target price on shares of Option Care Health from $40.00 to $41.00 and gave the stock an "overweight" rating in a report on Thursday, March 6th. JMP Securities reaffirmed a "market outperform" rating and set a $30.00 price objective (down previously from $31.00) on shares of Option Care Health in a research report on Friday, January 10th. Bank of America raised 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 report on Monday, January 13th. Finally, Barrington Research upped their target price on Option Care Health from $33.00 to $38.00 and gave the company an "outperform" rating in a report on Thursday, February 27th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $33.00.
Read Our Latest Analysis on Option Care Health
Option Care Health Stock Performance
OPCH traded up $0.29 during trading hours on Monday, hitting $31.84. The company's stock had a trading volume of 4,564,946 shares, compared to its average volume of 1,788,693. The company has a current ratio of 1.73, a quick ratio of 1.32 and a debt-to-equity ratio of 0.77. Option Care Health, Inc. has a fifty-two week low of $21.39 and a fifty-two week high of $35.53. The company has a 50-day simple moving average of $33.24 and a 200 day simple moving average of $28.58. The firm has a market capitalization of $5.23 billion, a PE ratio of 26.76, a PEG ratio of 2.30 and a beta of 1.07.
Option Care Health Profile
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Free Report)
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.
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