Bank of Nova Scotia Acquires Shares of 9,843 Option Care Health, Inc. (NASDAQ:OPCH)

Bank of Nova Scotia bought a new stake in shares of Option Care Health, Inc. (NASDAQ:OPCH) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,843 shares of the company’s stock, valued at approximately $228,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. grew its position in Option Care Health by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 19,315,421 shares of the company’s stock valued at $448,118,000 after acquiring an additional 75,313 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Option Care Health by 84.6% during the fourth quarter. Wellington Management Group LLP now owns 18,325,123 shares of the company’s stock valued at $425,143,000 after purchasing an additional 8,400,208 shares during the period. Norges Bank bought a new position in shares of Option Care Health in the fourth quarter worth about $60,219,000. Charles Schwab Investment Management Inc. increased its stake in Option Care Health by 6.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,510,131 shares of the company’s stock worth $58,235,000 after buying an additional 147,054 shares during the period. Finally, Magnetar Financial LLC lifted its holdings in Option Care Health by 23.1% during the 4th quarter. Magnetar Financial LLC now owns 2,350,598 shares of the company’s stock valued at $54,534,000 after buying an additional 441,265 shares in the last quarter. 98.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on OPCH. Bank of America upgraded shares of Option Care Health from a “neutral” rating to a “buy” rating and upped their target price for the stock from $26.00 to $33.00 in a research note on Monday, January 13th. JMP Securities reissued a “market outperform” rating and issued a $30.00 price objective (down previously from $31.00) on shares of Option Care Health in a research note on Friday, January 10th. JPMorgan Chase & Co. lifted their target price on Option Care Health from $40.00 to $41.00 and gave the company an “overweight” rating in a research report on Thursday, March 6th. Barrington Research increased their price target on Option Care Health from $33.00 to $38.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th. Finally, Jefferies Financial Group raised shares of Option Care Health from a “hold” rating to a “buy” rating and upped their price objective for the stock from $26.00 to $35.00 in a research note on Thursday, January 23rd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $33.00.

Option Care Health Price Performance

OPCH opened at $32.26 on Wednesday. The firm has a market capitalization of $5.30 billion, a PE ratio of 27.11, a price-to-earnings-growth ratio of 2.30 and a beta of 1.07. The business’s 50-day moving average is $33.28 and its two-hundred day moving average is $28.61. Option Care Health, Inc. has a 1 year low of $21.39 and a 1 year high of $35.53. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.73 and a quick ratio of 1.32.

Insider Buying and Selling at Option Care Health

In other news, insider Michael Bavaro sold 30,996 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $33.26, for a total transaction of $1,030,926.96. Following the sale, the insider now owns 44,974 shares in the company, valued at approximately $1,495,835.24. The trade was a 40.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.64% of the stock is owned by insiders.

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.