Option Care Health, Inc. (NASDAQ:OPCH) Shares Bought by Summit Creek Advisors LLC

Key Points

• Summit Creek Advisors LLC increased its stake in Option Care Health by 9.6%, owning 543,404 shares now valued at approximately $18.99 million, making it their 12th largest holding.
• Multiple hedge funds, including the Public Employees Retirement System of Ohio, have also increased their positions in Option Care Health, with institutional investors now owning 98.05% of the stock.
• Option Care Health reported a 16.3% increase in quarterly revenue to $1.33 billion, and its EPS of $0.40 surpassed analysts’ expectations by $0.04, signaling strong financial performance.

Summit Creek Advisors LLC increased its holdings in shares of Option Care Health, Inc. (NASDAQ:OPCH - Free Report) by 9.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 543,404 shares of the company's stock after purchasing an additional 47,747 shares during the period. Option Care Health makes up 2.8% of Summit Creek Advisors LLC's holdings, making the stock its 12th biggest position. Summit Creek Advisors LLC owned approximately 0.33% of Option Care Health worth $18,992,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Quadrant Capital Group LLC raised its holdings in Option Care Health by 172.8% in the 4th quarter. Quadrant Capital Group LLC now owns 1,735 shares of the company's stock worth $40,000 after purchasing an additional 1,099 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of Option Care Health by 21.6% during the fourth quarter. Public Employees Retirement System of Ohio now owns 1,870 shares of the company's stock worth $43,000 after purchasing an additional 332 shares in the last quarter. Johnson Financial Group Inc. acquired a new position in shares of Option Care Health during the 4th quarter worth about $47,000. Bessemer Group Inc. boosted its holdings in Option Care Health by 62.3% in the 1st quarter. Bessemer Group Inc. now owns 1,560 shares of the company's stock worth $54,000 after buying an additional 599 shares during the last quarter. Finally, Wealthquest Corp purchased a new stake in Option Care Health during the 1st quarter worth approximately $66,000. Hedge funds and other institutional investors own 98.05% of the company's stock.

Option Care Health Stock Down 2.6%

OPCH traded down $0.80 during trading hours on Thursday, hitting $29.84. 1,198,478 shares of the company's stock were exchanged, compared to its average volume of 1,857,267. The firm has a market cap of $4.89 billion, a P/E ratio of 24.05, a price-to-earnings-growth ratio of 1.96 and a beta of 0.73. Option Care Health, Inc. has a 12-month low of $21.39 and a 12-month high of $35.53. The company has a current ratio of 1.54, a quick ratio of 1.02 and a debt-to-equity ratio of 0.82. The firm has a 50 day moving average of $31.16 and a 200 day moving average of $31.95.

Option Care Health (NASDAQ:OPCH - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.01. Option Care Health had a return on equity of 16.90% and a net margin of 4.12%. The business had revenue of $1.42 billion for the quarter, compared to analysts' expectations of $1.35 billion. During the same period last year, the firm earned $0.30 earnings per share. The company's revenue for the quarter was up 15.4% compared to the same quarter last year. Analysts predict that Option Care Health, Inc. will post 1.22 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on OPCH. Barrington Research reiterated an "outperform" rating and set a $38.00 price target on shares of Option Care Health in a research report on Thursday, July 10th. UBS Group upgraded shares of Option Care Health from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $38.00 to $40.00 in a research report on Wednesday, April 30th. Citigroup reissued an "outperform" rating on shares of Option Care Health in a research note on Thursday. Finally, JMP Securities lifted their price objective on Option Care Health from $36.00 to $38.00 and gave the stock a "market outperform" rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $35.75.

Option Care Health Profile

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.