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 fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,843 shares of the company’s stock, valued at approximately $228,000.

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

Wall Street Analysts Forecast Growth

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

Insider Activity at Option Care Health

In other Option Care Health news, insider Michael Bavaro sold 30,996 shares of Option Care Health stock in a transaction on Friday, February 28th. The shares were sold at an average price of $33.26, for a total value of $1,030,926.96. Following the completion of the transaction, the insider now directly owns 44,974 shares of the company’s stock, valued at $1,495,835.24. This trade represents a 40.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.64% of the stock is currently owned by insiders.

Option Care Health Stock Performance

NASDAQ OPCH opened at $32.26 on Wednesday. The stock has a market capitalization of $5.30 billion, a PE ratio of 27.11, a P/E/G ratio of 2.30 and a beta of 1.07. Option Care Health, Inc. has a 1-year low of $21.39 and a 1-year high of $35.53. The business has a 50 day simple moving average of $33.28 and a two-hundred day simple moving average of $28.61. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.73 and a quick ratio of 1.32.

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.