Short Interest in Option Care Health, Inc. (NASDAQ:OPCH) Drops By 24.7%

Option Care Health, Inc. (NASDAQ:OPCH - Get Free Report) was the recipient of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 4,420,000 shares, a decrease of 24.7% from the October 15th total of 5,870,000 shares. Based on an average trading volume of 1,700,000 shares, the days-to-cover ratio is currently 2.6 days. Approximately 2.6% of the company's stock are sold short.

Option Care Health Stock Performance

Shares of Option Care Health stock traded down $0.26 during trading hours on Friday, reaching $21.93. The company had a trading volume of 1,974,264 shares, compared to its average volume of 1,525,719. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.73 and a quick ratio of 1.32. The firm has a market cap of $3.73 billion, a PE ratio of 18.65, a price-to-earnings-growth ratio of 2.30 and a beta of 1.32. Option Care Health has a one year low of $21.64 and a one year high of $34.63. The business has a fifty day simple moving average of $28.82 and a 200 day simple moving average of $29.44.

Insiders Place Their Bets

In other news, Director Elizabeth Quadros Betten sold 47,531 shares of the firm's stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $31.09, for a total transaction of $1,477,738.79. Following the completion of the sale, the director now owns 21,339 shares in the company, valued at approximately $663,429.51. This trade represents a 69.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Harry M. Jansen Kraemer, Jr. bought 43,000 shares of Option Care Health stock in a transaction that occurred on Friday, November 8th. The shares were bought at an average cost of $22.54 per share, with a total value of $969,220.00. Following the acquisition, the director now directly owns 326,334 shares in the company, valued at $7,355,568.36. This trade represents a 15.18 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.64% of the company's stock.

Hedge Funds Weigh In On Option Care Health

Hedge funds have recently modified their holdings of the company. UMB Bank n.a. raised its stake in Option Care Health by 937.5% during the 3rd quarter. UMB Bank n.a. now owns 830 shares of the company's stock valued at $26,000 after purchasing an additional 750 shares during the period. GAMMA Investing LLC raised its position in shares of Option Care Health by 110.6% during the third quarter. GAMMA Investing LLC now owns 897 shares of the company's stock valued at $28,000 after buying an additional 471 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Option Care Health by 3,362.8% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,489 shares of the company's stock worth $47,000 after buying an additional 1,446 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Option Care Health by 14.8% during the second quarter. Blue Trust Inc. now owns 2,931 shares of the company's stock worth $81,000 after acquiring an additional 377 shares during the last quarter. Finally, SageView Advisory Group LLC purchased a new position in Option Care Health during the first quarter valued at $85,000. 98.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

OPCH has been the topic of several research reports. Jefferies Financial Group downgraded Option Care Health from a "buy" rating to a "hold" rating and decreased their target price for the company from $38.00 to $26.00 in a research report on Thursday, October 31st. JMP Securities increased their price objective on Option Care Health from $36.00 to $37.00 and gave the stock a "market outperform" rating in a research report on Monday, September 30th. The Goldman Sachs Group cut shares of Option Care Health from a "buy" rating to a "neutral" rating and reduced their target price for the company from $38.00 to $27.00 in a research report on Monday, November 4th. Barrington Research decreased their price target on shares of Option Care Health from $40.00 to $32.00 and set an "outperform" rating on the stock in a research note on Thursday, October 31st. Finally, Truist Financial dropped their price objective on shares of Option Care Health from $41.00 to $34.00 and set a "buy" rating for the company in a research note on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and three have issued 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 target price of $30.83.

Option Care Health Company Profile

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.