Sierra Summit Advisors LLC Purchases New Stake in Option Care Health, Inc. $OPCH

Sierra Summit Advisors LLC acquired a new position in shares of Option Care Health, Inc. (NASDAQ:OPCH) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 26,287 shares of the company’s stock, valued at approximately $730,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Durable Capital Partners LP increased its holdings in Option Care Health by 134.2% during 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 during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Option Care Health by 109.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,410,394 shares of the company’s stock worth $110,770,000 after buying an additional 1,778,279 shares during the last quarter. Norges Bank acquired a new position in Option Care Health in the second quarter worth $69,932,000. Swedbank AB acquired a new position in shares of Option Care Health in the 3rd quarter valued at about $49,455,000. Finally, The Manufacturers Life Insurance Company raised its stake in Option Care Health by 3.3% during the second quarter. The Manufacturers Life Insurance Company now owns 1,706,671 shares of the company’s stock worth $55,433,000 after acquiring an additional 55,182 shares during the period. 98.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

OPCH has been the subject of a number of analyst reports. Wall Street Zen lowered Option Care Health from a “buy” rating to a “hold” rating in a research report on Saturday. Stephens upgraded shares of Option Care Health to a “strong-buy” rating in a research report on Thursday, December 11th. Citigroup reiterated an “outperform” rating on shares of Option Care Health in a research report on Tuesday, January 13th. Barrington Research upped their target price on shares of Option Care Health from $38.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, January 16th. Finally, National Bank Financial set a $37.00 price target on Option Care Health in a report on Tuesday, January 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.58.

Option Care Health Trading Up 1.8%

Option Care Health stock opened at $32.46 on Monday. Option Care Health, Inc. has a 12-month low of $24.24 and a 12-month high of $36.80. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.53 and a quick ratio of 0.96. The stock has a market capitalization of $5.08 billion, a PE ratio of 25.36, a price-to-earnings-growth ratio of 1.82 and a beta of 0.85. The firm has a 50 day simple moving average of $33.99 and a 200-day simple moving average of $30.60.

Option Care Health (NASDAQ:OPCH) last released its earnings results on Tuesday, February 24th. The company reported $0.46 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.46. Option Care Health had a return on equity of 18.57% and a net margin of 3.67%.The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the firm posted $0.44 earnings per share. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, equities research analysts expect that Option Care Health, Inc. will post 1.22 EPS for the current fiscal year.

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.