Raymond James Financial Inc. Buys 96,719 Shares of Option Care Health, Inc. $OPCH

Key Points

• Raymond James Financial Inc. increased its stake in Option Care Health, Inc. by 110.7% in the first quarter, now owning approximately $6.43 million worth of shares.
• Analyst upgrades include JMP Securities and Citigroup, with several firms placing a target price of $38.00 for the stock, indicating a “market outperform” rating.
• Option Care Health reported a 15.4% year-over-year revenue increase, with earnings per share surpassing estimates at $0.41 for the last quarter.

Raymond James Financial Inc. lifted its holdings in Option Care Health, Inc. (NASDAQ:OPCH - Free Report) by 110.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 184,074 shares of the company's stock after acquiring an additional 96,719 shares during the period. Raymond James Financial Inc. owned 0.11% of Option Care Health worth $6,433,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Nuveen LLC purchased a new position in Option Care Health during the first quarter valued at approximately $70,965,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Option Care Health by 6,525,926.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,500,986 shares of the company's stock valued at $52,459,000 after purchasing an additional 1,500,963 shares in the last quarter. Voloridge Investment Management LLC purchased a new position in shares of Option Care Health during the fourth quarter valued at approximately $27,428,000. Boston Partners bought a new stake in shares of Option Care Health in the 1st quarter worth about $24,353,000. Finally, Jennison Associates LLC raised its position in shares of Option Care Health by 76.5% during the 1st quarter. Jennison Associates LLC now owns 870,588 shares of the company's stock worth $30,427,000 after purchasing an additional 377,225 shares during the period. Institutional investors own 98.05% of the company's stock.

Analyst Ratings Changes

OPCH has been the topic of a number of research reports. Barrington Research reiterated an "outperform" rating and issued a $38.00 target price on shares of Option Care Health in a report on Thursday, July 10th. Citigroup reaffirmed an "outperform" rating on shares of Option Care Health in a research report on Thursday, July 31st. Finally, JMP Securities upped their target price on Option Care Health from $36.00 to $38.00 and gave the company a "market outperform" rating in a research report on Thursday, July 31st. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $35.75.

Option Care Health Trading Up 1.1%

OPCH traded up $0.33 during trading hours on Monday, reaching $29.42. 1,046,898 shares of the company's stock traded hands, compared to its average volume of 1,851,410. The company has a quick ratio of 1.00, a current ratio of 1.52 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $4.77 billion, a PE ratio of 23.55, a PEG ratio of 1.77 and a beta of 0.83. Option Care Health, Inc. has a 52-week low of $21.39 and a 52-week high of $35.53. The firm has a 50-day moving average price of $29.29 and a 200 day moving average price of $31.54.

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, topping the consensus estimate of $0.40 by $0.01. The firm had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $1.35 billion. Option Care Health had a return on equity of 17.53% and a net margin of 3.93%.The company's revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period last year, the business posted $0.30 earnings per share. Option Care Health has set its FY 2025 guidance at 1.650-1.720 EPS. As a group, sell-side analysts predict that Option Care Health, Inc. will post 1.22 EPS for the current fiscal year.

Insider Activity

In other news, Director Harry M. Jansen Kraemer, Jr. purchased 36,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was acquired at an average price of $27.15 per share, with a total value of $977,400.00. Following the purchase, the director owned 375,390 shares in the company, valued at $10,191,838.50. This represents a 10.61% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Timothy P. Sullivan purchased 20,000 shares of the business's stock in a transaction that occurred on Thursday, August 21st. The stock was acquired at an average cost of $27.51 per share, with a total value of $550,200.00. Following the completion of the acquisition, the director directly owned 49,229 shares of the company's stock, valued at $1,354,289.79. The trade was a 68.43% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.64% of the stock is owned by insiders.

Option Care Health Company 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.