Renaissance Technologies LLC Purchases 75,100 Shares of Option Care Health, Inc. $OPCH

Key Points

• Renaissance Technologies increased its Option Care Health stake by 15.5%, purchasing 75,100 shares to hold 558,926 shares valued at approximately $15.0 million. Institutional investors collectively own 98.05% of the company.
• Company insiders bought 73,264 shares worth about $1.55 million during the latest quarter, including purchases by CEO John Charles Rademacher and Director Timothy P. Sullivan.
• Option Care Health reported quarterly earnings of $0.45 per share and revenue of $1.44 billion, exceeding analyst estimates. Despite mixed analyst views, the stock has a consensus “Hold” rating and a $29.92 price target.

Renaissance Technologies LLC increased its position in shares of Option Care Health, Inc. (NASDAQ:OPCH - Free Report) by 15.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 558,926 shares of the company's stock after buying an additional 75,100 shares during the period. Renaissance Technologies LLC owned about 0.36% of Option Care Health worth $15,046,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new position in Option Care Health during the 4th quarter worth about $25,000. Advisory Services Network LLC bought a new stake in shares of Option Care Health in the 3rd quarter valued at about $35,000. McIlrath & Eck LLC bought a new stake in shares of Option Care Health in the 2nd quarter valued at about $37,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Option Care Health in the 3rd quarter worth approximately $38,000. Finally, Quarry LP lifted its position in shares of Option Care Health by 502.7% in the 3rd quarter. Quarry LP now owns 1,549 shares of the company's stock worth $43,000 after purchasing an additional 1,292 shares during the period. 98.05% of the stock is currently owned by institutional investors.

Insider Activity

In other Option Care Health news, CEO John Charles Rademacher bought 12,500 shares of Option Care Health stock in a transaction that occurred on Monday, May 4th. The shares were bought at an average cost of $21.18 per share, with a total value of $264,750.00. Following the transaction, the chief executive officer directly owned 695,152 shares of the company's stock, valued at approximately $14,723,319.36. This represents a 1.83% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Timothy P. Sullivan bought 24,154 shares of Option Care Health stock in a transaction that occurred on Thursday, May 7th. The shares were acquired at an average cost of $20.69 per share, for a total transaction of $499,746.26. Following the completion of the transaction, the director directly owned 73,383 shares in the company, valued at $1,518,294.27. This represents a 49.06% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders acquired 73,264 shares of company stock worth $1,548,316. Insiders own 1.70% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. TD Cowen cut their price objective on shares of Option Care Health from $37.00 to $23.00 and set a "hold" rating on the stock in a report on Friday, May 1st. Wall Street Zen upgraded Option Care Health from a "hold" rating to a "buy" rating in a report on Saturday. Zacks Research raised Option Care Health from a "strong sell" rating to a "hold" rating in a research report on Monday, July 6th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $24.00 price target (down from $26.00) on shares of Option Care Health in a report on Thursday. Finally, Truist Financial set a $30.00 price target on Option Care Health in a research report on Friday, May 1st. Seven equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $29.92.

Option Care Health Trading Up 2.5%

NASDAQ OPCH opened at $23.03 on Friday. Option Care Health, Inc. has a 52 week low of $18.01 and a 52 week high of $36.80. The company has a 50 day moving average price of $21.49 and a 200 day moving average price of $26.79. The company has a quick ratio of 1.07, a current ratio of 1.47 and a debt-to-equity ratio of 0.91. The firm has a market cap of $3.45 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 1.25 and a beta of 0.65.

Option Care Health (NASDAQ:OPCH - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.02. Option Care Health had a net margin of 3.68% and a return on equity of 18.74%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period last year, the firm earned $0.41 earnings per share. Option Care Health's revenue was up 1.9% compared to the same quarter last year. Option Care Health has set its FY 2026 guidance at 1.850-1.920 EPS. As a group, sell-side analysts forecast that Option Care Health, Inc. will post 1.64 EPS for the current fiscal year.

Option Care Health 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.

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