Option Care Health

OPCH · NASDAQ

$31.36+$0.15 (+0.48%)TodayMarket closed · Oct 20, 7:53 PM ET

Prev close $31.21

OPCH analyst rating

HoldConsensus of 12 analysts over the last 12 months. 17% rate it a buy.

Strong buy0
Buy2
Hold10
Underperform0
Sell0

12-month price target · 14 analysts

Average $28.75 (−8.3% downside)

Low: $23.23
Now: $31.36
High: $40.95

Upgrades and downgrades

The latest rating actions, newest first

OPCH analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
UBS	Oct 9, 2026	Downgrade	Buy → Neutral	$39.00 → $32.05	64%
William Blair	Oct 7, 2026	Downgrade	Outperform → Market Perform	—	50%
JP Morgan	Oct 7, 2026	Downgrade	Overweight → Neutral	$33.00	54%
Citizens	Oct 7, 2026	Downgrade	Market Outperform → Market Perform	—	38%
Jefferies	Oct 7, 2026	Downgrade	Buy → Hold	$28.00 → $32.05	63%
Barrington Research	Oct 7, 2026	Downgrade	Outperform → Market Perform	—	44%
Deutsche Bank	Jul 30, 2026	Downgrade	Buy → Hold	$26.00 → $24.00	64%
Stephens & Co.	Jul 17, 2026	Downgrade	Overweight → Equal-Weight	$30.00 → $24.00	71%
Goldman Sachs	Jun 8, 2026	Initiates	Neutral	$22.00	64%
Morgan Stanley	May 6, 2026	Maintains	Overweight	$485.00	73%

The case for and against

Updated Oct 21, 2026

Bull case

Option Care Health is favored for its dominant position in home and alternate-site infusion services, where acute therapy momentum has delivered high-single-digit revenue growth and higher gross margins, while ambulatory facilities improve labor efficiency and support margin expansion as utilization rises. The company’s long-term fundamentals remain intact despite near-term noise, with management expecting Stelara and biosimilars to fall below 1% of 2026 revenue and gross profit, plus advanced practitioner capabilities expanding across 28 of 175 facilities to deepen clinical reach and market access. Even with 2026 headwinds, the business is still projected to generate strong adjusted EBITDA of $480 million to $510 million, around $300 million of annual FCF on average for 2026-2028, and benefit from disciplined capital allocation, including $17.5 million of first-quarter buybacks.

Bear case

Option Care Health is facing a negative fundamental outlook because its latest quarter showed revenue of $1.35 billion, below both the $1.39 billion estimate and the $1.40 billion consensus, with only 1.3% year-over-year growth and chronic therapy weakness tied to Stelara-related patient census declines. Management also raised expected H/W from CID/Stelara to $55 million from $25 million to $35 million while guiding 2Q adj. EBITDA to $112 million to $115 million versus $122 million consensus, suggesting a steeper-than-normal second-half ramp that appears difficult to execute. Beyond the quarter, the company operates in a highly regulated, reimbursement-sensitive, and competitive specialty pharmacy market, and the reduced 2026 and 2027 adj. EBITDA and revenue estimates imply slower core growth and greater downside risk.

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