Some Investing Thoughts On Option Care Health Inc. (NASDAQ: OPCH)

The Vanguard Group, Inc. has recently announced that it has increased stake in Option Care Health Inc. (NASDAQ:OPCH) by 11.98%. After grabbing 18.81 million shares, the institutional investor is now in possession of 2.01 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 10.62% having worth around $521.73 million. Moreover, BlackRock Fund Advisors increased its share by 0.63 million to have a control over 18.73 million shares. And SSgA Funds Management, Inc. raised its holdings to 0.23 million shares by acquiring 5.73 million shares or 3.23% of the stake.

Option Care Health Inc. (OPCH) concluded trading on 12/07/23 at a closing price of $29.67, with 2.48 million shares of worth about $73.45 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -5.33% during that period and on Thursday the price saw a gain of about 1.51%. Currently the company’s common shares owned by public are about 181.96M shares, out of which, 176.20M shares are available for trading.

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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 8 analysts are covering the OPCH stock and their offered price forecasts bring an average price target of $38.43. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $43.00 and could fall to a lowest price of $35.00. The stock’s current price level is 22.79% above of average price target set by the analysts, while a rise to estimated low would result in gain of 15.23% for the stock. However, touching the estimated high of $43.00 would mean a gain of 31.0% for the stock.

According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 47 times over the past 12 months. They bought 837,047 shares in 35 of the transactions. In 12 selling transactions, insiders dumped 15,496,021 shares.

Vanguard Total Stock Market ETF, iShares Core S&P Mid Cap ETF, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in Option Care Health Inc. Vanguard Total Stock Market ETF is currently holding 5.64 million shares of worth totaling $156.5 million. The company recently came buying 10109.0 shares which brought its stake up to 3.19% of the company’s outstanding shares. Vanguard Small Cap Index Fund, after buying 4.64 million shares, have now control over 2.62% of the stake in the company. It holds 9444.0 shares of worth $128.64 million.

Option Care Health Inc. (NASDAQ: OPCH) started trading at $30.16, above $0.93 from concluding price of the previous day. However, the stock later moved at a day high price of 30.20, or with a gain of 1.51%. Stock saw a price change of -0.27% in past 5 days and over the past one month there was a price change of 3.74%. Year-to-date (YTD), OPCH shares are showing a performance of -1.40% which decreased to -0.64% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $24.23 but also hit the highest price of $35.74 during that period. The average intraday trading volume for Option Care Health Inc. shares is 2.01 million. The stock is currently trading 0.55% above its 20-day simple moving average (SMA20), while that difference is down -2.28% for SMA50 and it goes to -5.71% lower than SMA200.

The Vanguard Group, Inc. acquired 18.81 million shares of Option Care Health Inc. having value of about $521.73 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 2.01 million shares in the company valued at close to $59710459.62, or have control over 11.98% stake in the company. Option Care Health Inc. (NASDAQ: OPCH) currently have 181.96M outstanding shares and institutions hold larger chunk of about 97.47% of that. Holding of mutual funds in the company is about 47.75% while other institutional holders and individual stake holders have control over 50.01% and 36.80% of the stake respectively.

The stock has a current market capitalization of $5.26B and its 3Y-monthly beta is at 1.16. PE ratio of stock for trailing 12 months is 20.93, while it has posted earnings per share of $1.42 in the same period. Its PEG reads 1.01 and has Quick Ratio of 1.39 while making debt-to-equity ratio of 0.81. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for OPCH, volatility over the week remained 2.99% while standing at 2.24% over the month.

Analysts are in expectations that Option Care Health Inc. (OPCH) stock would likely to be making an EPS of $0.29 in the current quarter, while forecast for next quarter EPS is $0.26 and it is $1.17 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.26 which is $0.31 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.26 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 73.78% while it is estimated to decrease by -18.82% in next year.

Analysts at 8 brokerage firms have issued recommendations for the Option Care Health Inc. (OPCH)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.00. Out of those 8 Wall Street analysts, 8 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Jefferies on February 27, 2023 offering a Buy rating for the stock and assigned a target price of $38 to it.

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