Short Interest in Option Care Health, Inc. (NASDAQ:OPCH) Drops By 24.7%

Option Care Health, Inc. (NASDAQ:OPCH) saw a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 4,420,000 shares, a decrease of 24.7% from the October 15th total of 5,870,000 shares. Based on an average trading volume of 1,700,000 shares, the days-to-cover ratio is presently 2.6 days. Currently, 2.6% of the shares of the company are sold short.

Option Care Health Price Performance

OPCH stock traded down $0.26 during trading on Friday, hitting $21.93. 1,974,267 shares of the stock traded hands, compared to its average volume of 2,698,041. Option Care Health has a one year low of $21.64 and a one year high of $34.63. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of 18.43, a P/E/G ratio of 2.27 and a beta of 1.32. The company has a 50 day simple moving average of $28.62 and a 200 day simple moving average of $29.37. The company has a current ratio of 1.73, a quick ratio of 1.32 and a debt-to-equity ratio of 0.77.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on OPCH shares. Barrington Research lowered their price objective on Option Care Health from $40.00 to $32.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Truist Financial lowered their price target on shares of Option Care Health from $41.00 to $34.00 and set a “buy” rating on the stock in a report on Friday, November 1st. The Goldman Sachs Group lowered shares of Option Care Health from a “buy” rating to a “neutral” rating and lowered their price target for the company from $38.00 to $27.00 in a report on Monday, November 4th. Bank of America cut shares of Option Care Health from a “buy” rating to a “neutral” rating and lowered their target price for the company from $43.00 to $29.00 in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group cut shares of Option Care Health from a “buy” rating to a “hold” rating and lowered their target price for the company from $38.00 to $26.00 in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $30.83.

Insider Activity

In other news, CFO Michael H. Shapiro sold 23,217 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $30.95, for a total transaction of $718,566.15. Following the transaction, the chief financial officer now owns 247,317 shares in the company, valued at approximately $7,654,461.15. The trade was a 8.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Elizabeth Quadros Betten sold 47,531 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $31.09, for a total value of $1,477,738.79. Following the transaction, the director now owns 21,339 shares in the company, valued at $663,429.51. This represents a 69.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.64% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of OPCH. UMB Bank n.a. raised its stake in shares of Option Care Health by 937.5% in the third quarter. UMB Bank n.a. now owns 830 shares of the company’s stock valued at $26,000 after acquiring an additional 750 shares during the last quarter. GAMMA Investing LLC raised its position in Option Care Health by 110.6% in the 3rd quarter. GAMMA Investing LLC now owns 897 shares of the company’s stock valued at $28,000 after purchasing an additional 471 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in Option Care Health by 3,362.8% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,489 shares of the company’s stock valued at $47,000 after purchasing an additional 1,446 shares during the last quarter. Blue Trust Inc. raised its position in Option Care Health by 14.8% in the 2nd quarter. Blue Trust Inc. now owns 2,931 shares of the company’s stock valued at $81,000 after purchasing an additional 377 shares during the last quarter. Finally, SageView Advisory Group LLC bought a new position in Option Care Health in the 1st quarter valued at $85,000. Institutional investors own 98.05% of the company’s stock.

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.