Southpoint Capital Advisors LP Decreases Stock Holdings in Option Care Health, Inc. (NASDAQ:OPCH)

Southpoint Capital Advisors LP lessened its stake in Option Care Health, Inc. (NASDAQ:OPCH) by 90.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 257,900 shares of the company’s stock after selling 2,492,100 shares during the period. Southpoint Capital Advisors LP’s holdings in Option Care Health were worth $8,072,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. FMR LLC increased its stake in Option Care Health by 134.0% in the third quarter. FMR LLC now owns 7,516,448 shares of the company’s stock valued at $235,265,000 after purchasing an additional 4,304,896 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in shares of Option Care Health during the second quarter worth $68,003,000. Victory Capital Management Inc. boosted its holdings in shares of Option Care Health by 4,432.8% in the third quarter. Victory Capital Management Inc. now owns 1,621,593 shares of the company’s stock valued at $50,756,000 after acquiring an additional 1,585,818 shares in the last quarter. Magnetar Financial LLC increased its position in Option Care Health by 124.8% during the 2nd quarter. Magnetar Financial LLC now owns 2,481,935 shares of the company’s stock worth $68,750,000 after purchasing an additional 1,377,929 shares during the period. Finally, Duquesne Family Office LLC grew its stake in shares of Option Care Health by 172.8% during the 2nd quarter. Duquesne Family Office LLC now owns 1,871,818 shares of the company’s stock worth $51,849,000 after purchasing an additional 1,185,613 shares during the period. 98.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on OPCH. Barrington Research reduced their price objective on Option Care Health from $40.00 to $32.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Jefferies Financial Group downgraded Option Care Health from a “buy” rating to a “hold” rating and reduced their price objective for the company from $38.00 to $26.00 in a research report on Thursday, October 31st. Bank of America cut Option Care Health from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $43.00 to $29.00 in a research report on Wednesday, October 30th. The Goldman Sachs Group lowered shares of Option Care Health from a “buy” rating to a “neutral” rating and reduced their target price for the company from $38.00 to $27.00 in a report on Monday, November 4th. Finally, JMP Securities lifted their price target on shares of Option Care Health from $36.00 to $37.00 and gave the stock a “market outperform” rating in a report on Monday, September 30th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $30.83.

Insider Activity

In other news, Director Harry M. Jansen Kraemer, Jr. acquired 43,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were bought at an average price of $22.54 per share, for a total transaction of $969,220.00. Following the completion of the purchase, the director now directly owns 326,334 shares of the company’s stock, valued at approximately $7,355,568.36. This trade represents a 15.18 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.64% of the company’s stock.

Option Care Health Trading Up 0.2 %

OPCH stock opened at $23.80 on Friday. Option Care Health, Inc. has a 52 week low of $21.39 and a 52 week high of $34.63. The company has a market cap of $4.05 billion, a price-to-earnings ratio of 20.00, a PEG ratio of 2.46 and a beta of 1.32. The company has a quick ratio of 1.32, a current ratio of 1.73 and a debt-to-equity ratio of 0.77. The business has a fifty day simple moving average of $26.84 and a 200-day simple moving average of $28.89.

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.