Edgestream Partners L.P. has established a new investment position in Option Care Health, Inc. (NASDAQ: OPCH), purchasing 254,131 shares valued at approximately $8.25 million. This acquisition took place during the second quarter of 2023, as reported by HoldingsChannel.
Several other significant investors have also recently engaged with Option Care Health. Durable Capital Partners LP made a substantial investment of around $122.9 million in the first quarter. Norges Bank acquired a stake valued at approximately $69.9 million during the same quarter, while Nuveen LLC invested about $70.97 million. Additionally, Jennison Associates LLC increased its holdings by 145.6% in the second quarter, now owning 2,138,248 shares worth approximately $69.45 million after purchasing an additional 1,267,660 shares. Fuller & Thaler Asset Management Inc. also raised its investments by 30.8%, bringing their total shares to 4,204,481, valued at around $146.95 million.
Currently, institutional investors own 98.05% of Option Care Health stock.
Insider Transactions and Stock Performance
Recent insider activity has also been notable. Director Norman L. Wright purchased 3,411 shares on September 9, 2023, at an average price of $29.31 per share, totaling approximately $99,976.41. This transaction increased his ownership by 28.21%, bringing his total shares to 15,501, valued at around $454,334.31.
Additionally, Director Harry M. Jansen Kraemer, Jr. acquired 38,000 shares on November 3, 2023, for approximately $987,240, representing a 10.12% increase in his holdings to 413,390 shares, worth about $10.74 million. These transactions were disclosed in filings with the U.S. Securities and Exchange Commission (SEC).
Analyst Ratings and Market Outlook
Option Care Health’s stock recently experienced a slight decline of 0.5%. Analysts have weighed in on the company, with several research reports discussing its market position. Cowen initiated coverage with a “hold” rating on October 2, 2023. Meanwhile, Citizens JMP reduced its price target from $38.00 to $36.00 while maintaining a “market outperform” rating.
Morgan Stanley has also begun coverage, providing an “overweight” rating and a price target of $35.00. According to MarketBeat.com, the average rating for the stock is classified as a “Moderate Buy,” with a consensus price target of $35.67. Nine analysts recommend buying the stock, while three suggest holding.
Company Overview
Option Care Health, Inc. specializes in home and alternate site infusion services across the United States. The company provides a range of therapies, including anti-infective treatments, home infusion services for heart failure, and nutritional support services for various acute and chronic conditions such as stroke and cancer. It also offers immunoglobulin therapies for immune deficiencies and treatments for chronic inflammatory disorders, including Crohn’s disease and rheumatoid arthritis.
The recent investment activities and analyst recommendations highlight Option Care Health’s ongoing significance in the healthcare sector, as it continues to attract substantial interest from both institutional investors and market analysts. The company remains positioned to leverage growth opportunities in a vital service area for patient care.
