Wall Street Zen Upgrades Option Care Health to Buy Rating

Shares of Option Care Health (NASDAQ: OPCH) received an upgrade from Wall Street Zen, which changed its rating from hold to buy. This announcement came in a research note published on the morning of November 3, 2023, reflecting a positive sentiment towards the company’s potential for growth.

Several other brokerages have also recently reviewed the stock. On October 31, 2023, Citizens JMP reduced its price target for Option Care Health from $38.00 to $36.00 while maintaining a “market outperform” rating. Barrington Research also reaffirmed an “outperform” rating on the same day, setting a price target of $38.00. In contrast, Weiss Ratings maintained a “hold (c-)” rating on November 25, 2023.

According to MarketBeat, the consensus rating for Option Care Health is “Moderate Buy,” with a price target averaging around $35.67. Currently, nine research analysts have rated the stock as a Buy, while three have assigned a Hold rating.

Insider Transactions and Institutional Holdings

In a notable move, Director Harry M. Jansen Kraemer, Jr. purchased 38,000 shares of Option Care Health on November 3, 2023, at an average price of $25.98 per share, amounting to a total investment of approximately $987,240. Following this acquisition, Kraemer’s total holdings increased to 413,390 shares, valued at approximately $10.74 million. This transaction represents a 10.12% increase in his ownership of the company.

Institutional investors play a significant role in the ownership structure of Option Care Health, holding approximately 98.05% of the company’s stock. Recently, Teton Advisors Inc. increased its stake by 2.2% in the second quarter, acquiring an additional 368 shares and bringing its total to 17,368 shares valued at $564,000. Similarly, US Bancorp DE boosted its holdings by 5.0% during the first quarter, now owning 8,199 shares worth $287,000.

Assetmark Inc. also raised its position by 1.6% in the second quarter, owning 26,690 shares valued at $867,000 after acquiring 416 additional shares. State of Wyoming and Sheets Smith Wealth Management also increased their stakes, demonstrating a growing confidence among institutional investors.

Company Overview and Services

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 for various acute and chronic conditions such as stroke, cancer, and gastrointestinal diseases.

Additionally, Option Care Health offers immunoglobulin therapies for immune deficiencies and treatments for chronic inflammatory disorders like Crohn’s disease and rheumatoid arthritis. As the demand for home healthcare services continues to rise, Option Care Health is well-positioned to capitalize on this trend.

As of now, the overall market response to the recent upgrades and insider transactions suggests a positive outlook for Option Care Health, with continued interest from both analysts and institutional investors.