Connor Clark & Lunn Investment Management Ltd. Buys 248,762 Shares of Option Care Health, Inc. (NASDAQ:OPCH)

Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Option Care Health, Inc. (NASDAQ:OPCH) by 171.3% during the fourth quarter, Holdings Channel reports. The firm owned 394,019 shares of the company’s stock after purchasing an additional 248,762 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Option Care Health were worth $9,141,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its position in Option Care Health by 15.5% during the third quarter. Wellington Management Group LLP now owns 9,924,915 shares of the company’s stock valued at $310,650,000 after purchasing an additional 1,328,326 shares during the period. FMR LLC raised its position in Option Care Health by 134.0% in the third quarter. FMR LLC now owns 7,516,448 shares of the company’s stock worth $235,265,000 after acquiring an additional 4,304,896 shares during the period. Westfield Capital Management Co. LP raised its position in 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 acquiring an additional 599,589 shares during the period. State Street Corp raised its position in Option Care Health by 1.4% in the third quarter. State Street Corp now owns 6,257,172 shares of the company’s stock worth $195,849,000 after acquiring an additional 83,395 shares during the period. Finally, Thrivent Financial for Lutherans raised its position in Option Care Health by 7.4% in the third quarter. Thrivent Financial for Lutherans now owns 5,863,930 shares of the company’s stock worth $183,541,000 after acquiring an additional 404,811 shares during the period. Institutional investors own 98.05% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. UBS Group assumed coverage on shares of Option Care Health in a research report on Thursday, December 5th. They issued a “neutral” rating and a $26.00 price target on the stock. JPMorgan Chase & Co. raised their price objective on shares of Option Care Health from $40.00 to $41.00 and gave the company an “overweight” rating in a research report on Thursday, March 6th. Jefferies Financial Group upgraded shares of Option Care Health from a “hold” rating to a “buy” rating and raised their price objective for the company from $26.00 to $35.00 in a research report on Thursday, January 23rd. Bank of America upgraded shares of Option Care Health from a “neutral” rating to a “buy” rating and raised their price objective for the company from $26.00 to $33.00 in a research report on Monday, January 13th. Finally, JMP Securities restated a “market outperform” rating and set a $30.00 price objective (down from $31.00) on shares of Option Care Health in a research report on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.00.

Insider Activity at Option Care Health

In related news, insider Michael Bavaro sold 30,996 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $33.26, for a total transaction 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 approximately $1,495,835.24. This trade represents a 40.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.64% of the stock is currently owned by corporate insiders.

Option Care Health Stock Performance

OPCH opened at $32.66 on Friday. The stock has a market capitalization of $5.40 billion, a price-to-earnings ratio of 27.45, a PEG ratio of 2.30 and a beta of 1.33. The company has a fifty day moving average of $30.81 and a 200 day moving average of $28.26. Option Care Health, Inc. has a fifty-two week low of $21.39 and a fifty-two week high of $34.85. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.32 and a current ratio of 1.73.

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.