Wedge Capital Management L L P NC Raises Holdings in Option Care Health, Inc. $OPCH

Key Points

• Wedge Capital Management increased its stake in Option Care Health by 12.8%, acquiring 15,102 additional shares, bringing its total ownership to approximately 133,389 shares valued at $4.33 million.
• Option Care Health reported second-quarter earnings of $0.41 per share, which exceeded analysts' expectations of $0.40, along with a revenue of $1.42 billion, up 15.4% from the previous year.
• Insider activity included acquisitions by Director Harry M. Jansen Kraemer, Jr., who purchased 36,000 shares at $27.15 each, and Director Norman L. Wright, who bought 3,411 shares at $29.31 each, indicating confidence in the company's future performance.

Wedge Capital Management L L P NC boosted its position in Option Care Health, Inc. (NASDAQ:OPCH - Free Report) by 12.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 133,389 shares of the company's stock after purchasing an additional 15,102 shares during the quarter. Wedge Capital Management L L P NC owned about 0.08% of Option Care Health worth $4,332,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. lifted its stake in Option Care Health by 30.8% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 4,204,481 shares of the company's stock worth $146,947,000 after purchasing an additional 989,048 shares during the last quarter. Durable Capital Partners LP acquired a new position in shares of Option Care Health during the 1st quarter worth about $122,905,000. Charles Schwab Investment Management Inc. boosted its position in shares of Option Care Health by 4.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,609,705 shares of the company's stock worth $91,209,000 after purchasing an additional 99,574 shares during the period. Nuveen LLC purchased a new position in Option Care Health during the 1st quarter worth $70,965,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of Option Care Health by 8.8% in the first quarter. The Manufacturers Life Insurance Company now owns 1,651,489 shares of the company's stock valued at $57,720,000 after buying an additional 133,497 shares during the last quarter. Institutional investors and hedge funds own 98.05% of the company's stock.

Insider Activity

In other news, Director Harry M. Jansen Kraemer, Jr. purchased 36,000 shares of the company's stock in a transaction on Wednesday, August 20th. The shares were purchased at an average cost of $27.15 per share, with a total value of $977,400.00. Following the completion of the transaction, the director owned 375,390 shares of the company's stock, valued at $10,191,838.50. The trade was a 10.61% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Timothy P. Sullivan purchased 20,000 shares of the stock in a transaction on Thursday, August 21st. The shares were purchased at an average price of $27.51 per share, with a total value of $550,200.00. Following the acquisition, the director owned 49,229 shares in the company, valued at approximately $1,354,289.79. The trade was a 68.43% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 59,411 shares of company stock worth $1,627,576 over the last quarter. 0.64% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

OPCH has been the subject of a number of analyst reports. Barrington Research reaffirmed an "outperform" rating and set a $38.00 price objective on shares of Option Care Health in a research note on Thursday, July 10th. 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 note on Thursday, July 31st. Finally, Citigroup reissued an "outperform" rating on shares of Option Care Health in a report on Thursday, July 31st. Eight research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $35.75.

Option Care Health Stock Up 1.3%

Shares of OPCH traded up $0.36 during mid-day trading on Monday, hitting $28.67. 2,016,815 shares of the company's stock were exchanged, compared to its average volume of 1,727,872. Option Care Health, Inc. has a fifty-two week low of $21.39 and a fifty-two week high of $35.53. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.00 and a current ratio of 1.52. The company has a market cap of $4.65 billion, a price-to-earnings ratio of 22.94, a P/E/G ratio of 1.72 and a beta of 0.83. The stock's 50-day moving average is $28.79 and its 200-day moving average is $31.17.

Option Care Health (NASDAQ:OPCH - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.01. Option Care Health had a net margin of 3.93% and a return on equity of 17.53%. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same period last year, the firm earned $0.30 EPS. The company's revenue for the quarter was up 15.4% on a year-over-year basis. Option Care Health has set its FY 2025 guidance at 1.650-1.720 EPS. On average, sell-side analysts anticipate that Option Care Health, Inc. will post 1.22 earnings per share for the current fiscal year.

About Option Care Health

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.