Principal Financial Group Inc. Trims Stake in Option Care Health, Inc. (NASDAQ:OPCH)

Principal Financial Group Inc. decreased its position in Option Care Health, Inc. (NASDAQ:OPCH - Free Report) by 29.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 475,089 shares of the company's stock after selling 194,775 shares during the period. Principal Financial Group Inc. owned 0.28% of Option Care Health worth $14,870,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Thrivent Financial for Lutherans lifted its position in Option Care Health by 9.1% in the second quarter. Thrivent Financial for Lutherans now owns 5,459,119 shares of the company's stock valued at $151,218,000 after buying an additional 455,310 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Option Care Health by 6.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,605,271 shares of the company's stock valued at $99,870,000 after acquiring an additional 218,844 shares during the period. Magnetar Financial LLC lifted its holdings in shares of Option Care Health by 124.8% in the 2nd quarter. Magnetar Financial LLC now owns 2,481,935 shares of the company's stock worth $68,750,000 after acquiring an additional 1,377,929 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of Option Care Health during the 2nd quarter worth approximately $68,003,000. Finally, Duquesne Family Office LLC increased its holdings in Option Care Health by 172.8% in the 2nd quarter. Duquesne Family Office LLC now owns 1,871,818 shares of the company's stock valued at $51,849,000 after purchasing an additional 1,185,613 shares during the last quarter. Institutional investors and hedge funds own 98.05% of the company's stock.

Insider Activity

In other news, CFO Michael H. Shapiro sold 23,217 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $30.95, for a total value of $718,566.15. Following the transaction, the chief financial officer now owns 247,317 shares in the company, valued at approximately $7,654,461.15. This represents a 8.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Elizabeth Quadros Betten sold 47,531 shares of the business'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 value of $1,477,738.79. Following the sale, the director now owns 21,339 shares of the company's stock, valued at approximately $663,429.51. The trade was a 69.02 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.64% of the company's stock.

Option Care Health Stock Down 1.2 %

Option Care Health stock traded down $0.26 during trading on Friday, reaching $21.93. The stock had a trading volume of 1,974,267 shares, compared to its average volume of 1,525,719. The company has a quick ratio of 1.32, a current ratio of 1.73 and a debt-to-equity ratio of 0.77. Option Care Health, Inc. has a 52-week low of $21.64 and a 52-week high of $34.63. The stock has a market cap of $3.73 billion, a PE ratio of 18.43, a P/E/G ratio of 2.30 and a beta of 1.32. The business has a 50 day moving average price of $28.62 and a 200 day moving average price of $29.38.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. JMP Securities increased their target price on Option Care Health from $36.00 to $37.00 and gave the stock a "market outperform" rating in a research note on Monday, September 30th. Barrington Research reduced 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 report on Thursday, October 31st. The Goldman Sachs Group cut shares of Option Care Health from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $38.00 to $27.00 in a report on Monday, November 4th. Jefferies Financial Group downgraded shares of Option Care Health from a "buy" rating to a "hold" rating and cut their target price for the stock from $38.00 to $26.00 in a research note on Thursday, October 31st. Finally, Bank of America cut shares of Option Care Health from a "buy" rating to a "neutral" rating and decreased their price target for the company from $43.00 to $29.00 in a research report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $30.83.

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.