Option Care Health (NASDAQ:OPCH) Shares Gap Down – Here’s Why

Shares of Option Care Health, Inc. (NASDAQ:OPCH) gapped down prior to trading on Tuesday . The stock had previously closed at $36.09, but opened at $33.54. Option Care Health shares last traded at $33.7860, with a volume of 871,324 shares changing hands.

Wall Street Analysts Forecast Growth

OPCH has been the subject of several research reports. Stephens raised shares of Option Care Health to a “strong-buy” rating in a research report on Thursday, December 11th. Bank of America increased their price target on shares of Option Care Health from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, December 9th. Citigroup reissued an “outperform” rating on shares of Option Care Health in a research report on Tuesday, January 13th. TD Cowen reaffirmed a “hold” rating on shares of Option Care Health in a report on Tuesday, January 27th. Finally, Wall Street Zen upgraded Option Care Health from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.58.

Option Care Health Stock Down 4.0%

The firm has a market capitalization of $5.12 billion, a PE ratio of 25.22, a P/E/G ratio of 2.02 and a beta of 0.84. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.53 and a quick ratio of 1.05. The company has a 50-day moving average price of $34.00 and a 200 day moving average price of $30.53.

Option Care Health (NASDAQ:OPCH) last issued its earnings results on Tuesday, February 24th. The company reported $0.46 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.46. Option Care Health had a return on equity of 18.57% and a net margin of 3.67%.The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the company earned $0.44 EPS. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. Analysts forecast that Option Care Health, Inc. will post 1.22 earnings per share for the current year.

Hedge Funds Weigh In On Option Care Health

Several institutional investors have recently bought and sold shares of the stock. Durable Capital Partners LP lifted its stake in Option Care Health by 134.2% in the 2nd quarter. Durable Capital Partners LP now owns 8,237,577 shares of the company’s stock worth $267,557,000 after purchasing an additional 4,720,988 shares in the last quarter. Southpoint Capital Advisors LP bought a new stake in shares of Option Care Health in the fourth quarter worth about $95,580,000. Norges Bank purchased a new stake in shares of Option Care Health in the second quarter worth about $69,932,000. Swedbank AB purchased a new stake in shares of Option Care Health in the third quarter worth about $49,455,000. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Option Care Health by 109.0% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,410,394 shares of the company’s stock valued at $110,770,000 after buying an additional 1,778,279 shares during the last quarter. 98.05% of the stock is owned by hedge funds and other institutional investors.

Option Care Health Company Profile

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.