Principal Financial Group Inc. Sells 194,775 Shares of Option Care Health, Inc. (NASDAQ:OPCH)

Principal Financial Group Inc. reduced its holdings in shares of Option Care Health, Inc. (NASDAQ:OPCH - Free Report) by 29.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Raymond James & Associates boosted its stake in Option Care Health by 49.5% during the second quarter. Raymond James & Associates now owns 80,230 shares of the company's stock worth $2,222,000 after acquiring an additional 26,560 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Option Care Health by 3.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,642,877 shares of the company's stock worth $45,508,000 after buying an additional 54,202 shares during the period. Crossmark Global Holdings Inc. boosted its holdings in Option Care Health by 7.4% in the second quarter. Crossmark Global Holdings Inc. now owns 24,696 shares of the company's stock worth $684,000 after acquiring an additional 1,702 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Option Care Health by 2.4% during the second quarter. Van ECK Associates Corp now owns 37,118 shares of the company's stock valued at $1,028,000 after acquiring an additional 863 shares in the last quarter. Finally, Nilsine Partners LLC raised its position in shares of Option Care Health by 2.8% during the second quarter. Nilsine Partners LLC now owns 83,203 shares of the company's stock worth $2,305,000 after purchasing an additional 2,293 shares during the period. 98.05% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Harry M. Jansen Kraemer, Jr. bought 43,000 shares of Option Care Health stock in a transaction dated Friday, November 8th. The stock was purchased at an average cost of $22.54 per share, with a total value of $969,220.00. Following the transaction, the director now directly owns 326,334 shares of the company's stock, valued at approximately $7,355,568.36. The trade was a 15.18 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.64% of the company's stock.

Option Care Health Stock Performance

Shares of OPCH stock traded down $0.30 during trading on Friday, hitting $22.85. The company's stock had a trading volume of 978,843 shares, compared to its average volume of 1,578,077. The company has a current ratio of 1.73, a quick ratio of 1.32 and a debt-to-equity ratio of 0.77. The company has a market cap of $3.89 billion, a PE ratio of 19.20, a P/E/G ratio of 2.43 and a beta of 1.33. The business has a fifty day moving average of $24.02 and a 200-day moving average of $28.02. Option Care Health, Inc. has a 52 week low of $21.39 and a 52 week high of $34.63.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. UBS Group assumed 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 target for the company. Barrington Research reduced their price objective on shares of Option Care Health from $40.00 to $32.00 and set an "outperform" rating for the company in a report on Thursday, October 31st. Bank of America lowered shares of Option Care Health from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $43.00 to $29.00 in a report on Wednesday, October 30th. JMP Securities lifted their price target 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. Finally, Truist Financial dropped their target price on Option Care Health from $41.00 to $34.00 and set a "buy" rating on the stock in a report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Option Care Health has a consensus rating of "Hold" and an average target price of $30.14.

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.