Retirement Systems of Alabama Trims Stake in Option Care Health, Inc. (NASDAQ:OPCH)

Retirement Systems of Alabama reduced its holdings in Option Care Health, Inc. (NASDAQ:OPCH) by 61.3% during the third quarter, Holdings Channel.com reports. The fund owned 207,753 shares of the company’s stock after selling 329,677 shares during the quarter. Retirement Systems of Alabama’s holdings in Option Care Health were worth $6,503,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Westfield Capital Management Co. LP increased its position in shares of Option Care Health by 10.2% in the third quarter. Westfield Capital Management Co. LP now owns 6,492,152 shares of the company’s stock worth $203,204,000 after purchasing an additional 599,589 shares during the last quarter. Global Alpha Capital Management Ltd. grew its stake in Option Care Health by 108.3% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 49,818 shares of the company’s stock worth $1,559,000 after buying an additional 25,905 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Option Care Health by 4,432.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,621,593 shares of the company’s stock worth $50,756,000 after buying an additional 1,585,818 shares during the last quarter. Edgestream Partners L.P. raised its position in shares of Option Care Health by 96.8% during the 2nd quarter. Edgestream Partners L.P. now owns 351,476 shares of the company’s stock valued at $9,736,000 after buying an additional 172,845 shares in the last quarter. Finally, Pier Capital LLC lifted its holdings in shares of Option Care Health by 88.4% during the 3rd quarter. Pier Capital LLC now owns 231,884 shares of the company’s stock worth $7,258,000 after acquiring an additional 108,783 shares during the last quarter. Hedge funds and other institutional investors own 98.05% of the company’s stock.

Insider Activity

In other news, Director Harry M. Jansen Kraemer, Jr. acquired 43,000 shares of the stock in a transaction dated Friday, November 8th. The stock was purchased at an average cost of $22.54 per share, with a total value of $969,220.00. Following the completion of the purchase, the director now owns 326,334 shares in the company, valued at approximately $7,355,568.36. The trade was a 15.18 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Bank of America cut Option Care Health from a “buy” rating to a “neutral” rating and reduced their target price for the company from $43.00 to $29.00 in a research note on Wednesday, October 30th. UBS Group assumed coverage on Option Care Health in a research report on Thursday, December 5th. They set a “neutral” rating and a $26.00 price objective on the stock. Truist Financial dropped their target price on Option Care Health from $41.00 to $34.00 and set a “buy” rating for the company in a research report on Friday, November 1st. JMP Securities increased their price target on shares of Option Care Health from $36.00 to $37.00 and gave the company a “market outperform” rating in a research report on Monday, September 30th. Finally, Barrington Research lowered their price objective on shares of Option Care Health from $40.00 to $32.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Option Care Health currently has a consensus rating of “Hold” and a consensus price target of $30.14.

Option Care Health Trading Down 2.7 %

Shares of OPCH stock opened at $22.78 on Thursday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.73 and a quick ratio of 1.32. The business has a 50-day moving average of $25.08 and a 200 day moving average of $28.33. The stock has a market capitalization of $3.88 billion, a PE ratio of 19.14, a P/E/G ratio of 2.45 and a beta of 1.33. Option Care Health, Inc. has a 1-year low of $21.39 and a 1-year high of $34.63.

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.