Exchange Traded Concepts LLC Makes New Investment in Option Care Health, Inc. $OPCH

Exchange Traded Concepts LLC acquired a new position in shares of Option Care Health, Inc. (NASDAQ:OPCH) during the 3rd quarter, Holdings Channel reports. The fund acquired 27,752 shares of the company’s stock, valued at approximately $770,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. USA Financial Formulas bought a new stake in Option Care Health in the second quarter worth $26,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Option Care Health by 1,492.9% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 892 shares of the company’s stock worth $31,000 after buying an additional 836 shares in the last quarter. McIlrath & Eck LLC purchased a new position in shares of Option Care Health in the 2nd quarter worth $37,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Option Care Health in the 2nd quarter worth about $40,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Option Care Health by 528.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,407 shares of the company’s stock valued at $46,000 after buying an additional 1,183 shares in the last quarter. 98.05% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on OPCH. Morgan Stanley began coverage on Option Care Health in a research report on Friday, October 17th. They issued an “overweight” rating and a $35.00 price target for the company. Stephens raised Option Care Health to a “strong-buy” rating in a research note on Thursday, December 11th. TD Cowen cut their target price on Option Care Health from $30.00 to $27.00 and set a “hold” rating on the stock in a research report on Monday, November 3rd. Barrington Research restated an “outperform” rating and set a $38.00 price target on shares of Option Care Health in a report on Friday, October 31st. Finally, Citigroup restated an “outperform” rating on shares of Option Care Health in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $36.27.

Option Care Health Price Performance

Shares of OPCH stock opened at $32.19 on Tuesday. The stock has a 50 day moving average price of $29.92 and a 200 day moving average price of $29.37. Option Care Health, Inc. has a 52-week low of $22.46 and a 52-week high of $35.53. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.05 and a current ratio of 1.56. The firm has a market capitalization of $5.11 billion, a P/E ratio of 25.55, a P/E/G ratio of 2.20 and a beta of 0.79.

Insider Activity

In related news, Director Harry M. Jansen Kraemer, Jr. purchased 38,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were purchased at an average cost of $25.98 per share, for a total transaction of $987,240.00. Following the completion of the acquisition, the director owned 413,390 shares in the company, valued at approximately $10,739,872.20. This trade represents a 10.12% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.64% of the company’s stock.

About Option Care Health

Option Care Health (NASDAQ: OPCH) is a leading provider of home and alternate site infusion services in the United States. The company specializes in the administration of injectable therapies, including antibiotics, nutrition, hydration, immunoglobulin, pain management and specialty pharmaceuticals. Through its nationwide network of infusion pharmacies and nursing professionals, Option Care Health delivers customized care plans and in-home nursing visits to patients managing complex or chronic conditions outside of a hospital setting.

Option Care Health traces its current structure to the completion of its merger with BioScrip in early 2021, combining two of the industry’s most experienced home infusion businesses.