Goldman Sachs Group raises Option Care Health (NASDAQ:OPCH) price target to $40.00

Option Care Health (NASDAQ:OPCH – Get an Assessment) had its price target raised by the Goldman Sachs Group from $31.00 to $40.00 in a research note released on Monday, Stock Target Advisor reports. The brokerage currently has a “buy” rating on the stock. Goldman Sachs Group’s target price indicates upside potential of 23.76% from the company’s previous close.

A number of other brokerages have also recently weighed in on OPCH. Barrington Research raised its price target on Option Care Health from $33.00 to $37.00 and gave the company an “outperform” rating in a Thursday, July 28 report. Lake Street Capital raised its price target on Option Care Health from $35.00 to $45.00 in a Thursday, July 28 research note. Deutsche Bank Aktiengesellschaft raised its price target on Option Care Health from $32.00 to $39.00 in a Friday, April 29 research note. Finally, TheStreet upgraded shares of Option Care Health from a “c+” rating to a “b” rating in a Monday, June 6 research rating. Four analysts rated the stock with a buy rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $40.25.

Care Health Stock Option Up to 1.0%

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Shares of NASDAQ OPCH opened at $32.32 on Monday. Option Care Health has a 52-week minimum of $21.32 and a 52-week maximum of $35.57. The stock’s fifty-day moving average is $30.76 and its 200-day moving average is $28.59. The company has a debt ratio of 0.82, a quick ratio of 1.16 and a current ratio of 1.58. The stock has a market capitalization of $5.88 billion, a P/E ratio of 33.32, a PEG ratio of 3.03 and a beta of 1.32.

Option Care Health (NASDAQ:OPCH – Get Rating) last released its results on Wednesday, July 27. The company reported EPS of $0.19 for the quarter, missing the consensus estimate of $0.22 per ($0.03). The company posted revenue of $980.80 million in the quarter, compared to a consensus estimate of $940.93 million. Option Care Health posted a net margin of 4.71% and a return on equity of 12.11%. Option Care Health’s quarterly revenues increased 14.0% compared to the same quarter last year. In the same period a year earlier, the company had earned earnings per share of $0.18. Sell-side analysts expect Option Care Health to post earnings per share of 0.78 for the current fiscal year.

Insider activity

In other news, COO Harriet Booker sold 6,000 shares of the company in a trade that took place on Monday, June 6. The stock was sold at an average price of $30.25, for a total value of $181,500.00. Following the completion of the transaction, the chief operating officer now owns 80,760 shares of the company, valued at $2,442,990. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. In other news, COO Harriet Booker sold 6,000 shares of Option Care Health in a trade on Monday, June 6. The shares were sold at an average price of $30.25, for a total transaction of $181,500.00. Following the transaction, the chief operating officer now owns 80,760 shares of the company, valued at $2,442,990. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. Additionally, major shareholder Walgreens Boots Alliance, Inc. sold 11,000,000 shares of the company in a transaction on Tuesday, August 16. The stock was sold at an average price of $33.01, for a total value of $363,110,000.00. Following the transaction, the insider now directly owns 26,247,092 shares of the company, valued at $866,416,506.92. The disclosure of this sale can be found here. In the past three months, insiders have sold 11,011,769 shares of the company valued at $363,472,089. 0.22% of the shares are currently held by insiders.

Hedge funds weigh on Option Care Health

A number of hedge funds and other institutional investors have recently changed their positions in the stock. Marshall Wace LLP bought a new position in Option Care Health during Q4 worth approximately $85,991,000. Venor Capital Management LP acquired a new position in Option Care Health in the fourth quarter worth $15,601,000. JPMorgan Chase & Co. increased its holdings in Option Care Health by 172.2% in the fourth quarter. JPMorgan Chase & Co. now owns 2,032,921 shares of the company valued at $57,816,000 after purchasing an additional 1,285,972 shares during the period. Victory Capital Management Inc. increased its position in Option Care Health by 2,435.1% during the second quarter. Victory Capital Management Inc. now owns 1,274,994 shares of the company valued at $35,432,000 after acquiring an additional 1,224,700 shares in the last quarter. Finally, Loomis Sayles & Co. LP increased its stake in Option Care Health by 65.1% during the 1st quarter. Loomis Sayles & Co. LP now owns 2,676,475 shares of the company worth $76,440,000 after acquiring an additional 1,055,722 shares during the period. 98.23% of the shares are held by institutional investors and hedge funds.

Company Profile Health Care Option

(Get a rating)

Option Care Health, Inc. offers home and alternate site infusion services in the United States. The company offers anti-infective therapies; home infusion services to treat heart failure; home parenteral nutrition and enteral nutrition support services for many acute and chronic conditions, such as stroke, cancer, and gastrointestinal disease; 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.

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