Magnetar Financial LLC Increases Position in Option Care Health, Inc. (NASDAQ:OPCH)

Magnetar Financial LLC increased its stake in Option Care Health, Inc. (NASDAQ:OPCH) by 23.1% during the 4th quarter, Holdings Channel reports. The fund owned 2,350,598 shares of the company’s stock after purchasing an additional 441,265 shares during the quarter. Option Care Health makes up approximately 1.3% of Magnetar Financial LLC’s investment portfolio, making the stock its 23rd biggest position. Magnetar Financial LLC’s holdings in Option Care Health were worth $54,534,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Cornerstone Investment Partners LLC raised its stake in shares of Option Care Health by 3.6% in the fourth quarter. Cornerstone Investment Partners LLC now owns 9,544 shares of the company’s stock valued at $221,000 after acquiring an additional 333 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Option Care Health by 41.7% in the fourth quarter. UMB Bank n.a. now owns 1,176 shares of the company’s stock valued at $27,000 after acquiring an additional 346 shares in the last quarter. Assetmark Inc. raised its stake in shares of Option Care Health by 2.0% in the fourth quarter. Assetmark Inc. now owns 24,976 shares of the company’s stock valued at $579,000 after acquiring an additional 487 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Option Care Health by 2.2% in the fourth quarter. Pacer Advisors Inc. now owns 25,483 shares of the company’s stock valued at $591,000 after acquiring an additional 537 shares in the last quarter. Finally, Sheets Smith Wealth Management raised its stake in shares of Option Care Health by 2.4% in the fourth quarter. Sheets Smith Wealth Management now owns 23,856 shares of the company’s stock valued at $553,000 after acquiring an additional 550 shares in the last quarter. 98.05% of the stock is currently owned by institutional investors and hedge funds.

Option Care Health Stock Performance

Shares of OPCH stock opened at $34.52 on Thursday. The stock’s 50-day moving average is $31.43 and its two-hundred day moving average is $28.29. The firm has a market cap of $5.71 billion, a price-to-earnings ratio of 29.01, a PEG ratio of 2.30 and a beta of 1.33. Option Care Health, Inc. has a 1 year low of $21.39 and a 1 year high of $34.85. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.32 and a current ratio of 1.73.

Insiders Place Their Bets

In other Option Care Health news, insider Michael Bavaro sold 30,996 shares of the firm’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 transaction, the insider now owns 44,974 shares of the company’s stock, valued at approximately $1,495,835.24. This trade represents a 40.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.64% of the company’s stock.

Analyst Upgrades and Downgrades

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

Option Care Health 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.