Renaissance Technologies LLC Grows Position in Option Care Health, Inc. $OPCH

Renaissance Technologies LLC raised its stake in shares of Option Care Health, Inc. (NASDAQ:OPCH) by 15.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 558,926 shares of the company’s stock after purchasing an additional 75,100 shares during the quarter. Renaissance Technologies LLC’s holdings in Option Care Health were worth $15,046,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cornerstone Investment Partners LLC lifted its stake in shares of Option Care Health by 3.4% during the fourth quarter. Cornerstone Investment Partners LLC now owns 9,773 shares of the company’s stock worth $311,000 after buying an additional 318 shares during the period. Sheets Smith Wealth Management grew its holdings in shares of Option Care Health by 1.3% during the fourth quarter. Sheets Smith Wealth Management now owns 26,167 shares of the company’s stock valued at $834,000 after buying an additional 326 shares during the last quarter. UMB Bank n.a. increased its position in shares of Option Care Health by 23.5% in the 4th quarter. UMB Bank n.a. now owns 1,715 shares of the company’s stock valued at $55,000 after acquiring an additional 326 shares during the period. Fifth Third Bancorp increased its position in shares of Option Care Health by 21.9% in the 4th quarter. Fifth Third Bancorp now owns 2,328 shares of the company’s stock valued at $74,000 after acquiring an additional 419 shares during the period. Finally, Andina Capital Management LLC raised its stake in Option Care Health by 2.6% in the 4th quarter. Andina Capital Management LLC now owns 16,320 shares of the company’s stock worth $520,000 after acquiring an additional 419 shares during the last quarter. Hedge funds and other institutional investors own 98.05% of the company’s stock.

Wall Street Analyst Weigh In

OPCH has been the subject of a number of research reports. Stephens reaffirmed an “equal weight” rating and set a $24.00 price target (down from $30.00) on shares of Option Care Health in a research report on Friday, July 17th. The Goldman Sachs Group assumed coverage on Option Care Health in a report on Monday, June 8th. They issued a “neutral” rating and a $22.00 price objective on the stock. TD Cowen reduced their price objective on Option Care Health from $37.00 to $23.00 and set a “hold” rating for the company in a research note on Friday, May 1st. Barrington Research decreased their target price on Option Care Health from $42.00 to $32.00 and set an “outperform” rating for the company in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. dropped their target price on Option Care Health from $40.00 to $33.00 and set an “overweight” rating on the stock in a research report on Monday, May 4th. Seven equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $29.92.

Insider Activity

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

Option Care Health Trading Up 2.5%

NASDAQ OPCH opened at $23.03 on Friday. The company has a market capitalization of $3.45 billion, a PE ratio of 17.32, a P/E/G ratio of 1.25 and a beta of 0.65. The company has a fifty day moving average of $21.49 and a 200 day moving average of $26.79. Option Care Health, Inc. has a 1 year low of $18.01 and a 1 year high of $36.80. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.47 and a quick ratio of 1.07.

Option Care Health (NASDAQ:OPCH) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.43 by $0.02. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.42 billion. Option Care Health had a net margin of 3.68% and a return on equity of 18.74%. The firm’s revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.41 earnings per share. Option Care Health has set its FY 2026 guidance at 1.850-1.920 EPS. Research analysts forecast that Option Care Health, Inc. will post 1.64 earnings per share for the current 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.