Congress Asset Management Co. Grows Position in Option Care Health, Inc. (NASDAQ:OPCH)

Congress Asset Management Co. lifted its position in Option Care Health, Inc. (NASDAQ:OPCH - Free Report) by 20.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 341,602 shares of the company's stock after acquiring an additional 58,972 shares during the period. Congress Asset Management Co. owned 0.20% of Option Care Health worth $10,692,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Diversify Wealth Management LLC raised its position in Option Care Health by 15.3% during the 3rd quarter. Diversify Wealth Management LLC now owns 10,299 shares of the company's stock worth $309,000 after buying an additional 1,364 shares during the last quarter. Pinnacle Associates Ltd. raised its holdings in shares of Option Care Health by 11.6% during the third quarter. Pinnacle Associates Ltd. now owns 30,066 shares of the company's stock worth $1,013,000 after purchasing an additional 3,137 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in Option Care Health by 7.0% during the third quarter. Nisa Investment Advisors LLC now owns 14,526 shares of the company's stock valued at $455,000 after purchasing an additional 945 shares during the period. State of Alaska Department of Revenue lifted its position in Option Care Health by 3.8% during the third quarter. State of Alaska Department of Revenue now owns 19,871 shares of the company's stock valued at $621,000 after purchasing an additional 735 shares during the period. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in Option Care Health in the third quarter valued at $206,000. Hedge funds and other institutional investors own 98.05% of the company's stock.

Insider Buying and Selling at Option Care Health

In related news, CFO Michael H. Shapiro sold 23,217 shares of the business's stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $30.95, for a total transaction of $718,566.15. Following the completion of the sale, the chief financial officer now directly owns 247,317 shares in the company, valued at approximately $7,654,461.15. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Michael H. Shapiro sold 23,217 shares of the business's stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $30.95, for a total transaction of $718,566.15. Following the transaction, the chief financial officer now directly owns 247,317 shares in the company, valued at approximately $7,654,461.15. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Elizabeth Quadros Betten sold 47,531 shares of the firm's stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $31.09, for a total transaction of $1,477,738.79. Following the completion of the transaction, the director now directly owns 21,339 shares in the company, valued at $663,429.51. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on OPCH. JMP Securities lifted their price objective on Option Care Health from $36.00 to $37.00 and gave the company a "market outperform" rating in a research note on Monday, September 30th. Jefferies Financial Group downgraded Option Care Health from a "buy" rating to a "hold" rating and decreased their price target for the company from $38.00 to $26.00 in a report on Thursday. Barrington Research lowered their price objective on Option Care Health from $40.00 to $32.00 and set an "outperform" rating on the stock in a research report on Thursday. Bank of America lowered shares of Option Care Health from a "buy" rating to a "neutral" rating and cut their target price for the company from $43.00 to $29.00 in a report on Wednesday. Finally, Truist Financial lowered their price target on shares of Option Care Health from $41.00 to $34.00 and set a "buy" rating on the stock in a report on Friday. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $31.60.

Option Care Health Price Performance

Shares of Option Care Health stock traded up $1.07 on Friday, reaching $24.11. The company's stock had a trading volume of 7,118,017 shares, compared to its average volume of 1,473,412. Option Care Health, Inc. has a 52-week low of $22.84 and a 52-week high of $34.63. The company has a market capitalization of $4.12 billion, a P/E ratio of 20.26, a PEG ratio of 1.79 and a beta of 1.29. The company has a quick ratio of 1.36, a current ratio of 1.73 and a debt-to-equity ratio of 0.77. The stock has a 50-day moving average price of $30.49 and a 200-day moving average price of $29.92.

Option Care Health (NASDAQ:OPCH - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.05. Option Care Health had a net margin of 4.37% and a return on equity of 15.30%. The company had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.22 billion. Analysts expect that Option Care Health, Inc. will post 1.22 EPS for the current year.

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.