Franklin Resources Inc. Cuts Stake in Option Care Health, Inc. (NASDAQ:OPCH)

Franklin Resources Inc. cut its stake in shares of Option Care Health, Inc. (NASDAQ:OPCH) by 56.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 862,187 shares of the company’s stock after selling 1,113,499 shares during the quarter. Franklin Resources Inc. owned about 0.51% of Option Care Health worth $26,374,000 as of its most recent SEC filing.

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

Option Care Health Stock Down 0.7 %

NASDAQ OPCH opened at $22.61 on Friday. Option Care Health, Inc. has a 52 week low of $21.39 and a 52 week high of $34.63. The company has a quick ratio of 1.32, a current ratio of 1.73 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $3.85 billion, a P/E ratio of 19.00, a price-to-earnings-growth ratio of 2.45 and a beta of 1.33. The stock’s 50-day moving average price is $24.96 and its 200-day moving average price is $28.29.

Analyst Upgrades and Downgrades

OPCH has been the topic of a number of recent analyst reports. UBS Group initiated coverage on shares of Option Care Health in a report on Thursday, December 5th. They set a “neutral” rating and a $26.00 price target on the stock. JMP Securities lifted their target price on shares of Option Care Health from $36.00 to $37.00 and gave the stock a “market outperform” rating in a research report on Monday, September 30th. Jefferies Financial Group cut Option Care Health from a “buy” rating to a “hold” rating and lowered their price target for the company from $38.00 to $26.00 in a report on Thursday, October 31st. Barrington Research reduced their price objective on Option Care Health from $40.00 to $32.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Finally, Truist Financial dropped their target price on Option Care Health from $41.00 to $34.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $30.14.

Insider Transactions at Option Care Health

In related news, Director Harry M. Jansen Kraemer, Jr. bought 43,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was bought 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 of the company’s stock, valued at approximately $7,355,568.36. The trade was a 15.18 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.64% of the company’s stock.

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.