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Option Care Health Inc. (OPCH) Stock Price Rises 1.68% in pre market, But Why?

Option Care Health Inc. (NASDAQ: OPCH), a leading independent national supplier of home and alternate-site infusion services, announced that John C. Rademacher, Chief Executive Officer, and Mike Shapiro, Chief Financial Officer, will participate in various virtual conferences.

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At last check, shares of Option Care Health Inc. (OPCH) were up 1.68% at $18.2. OPCH stock closed the last session at $17.90, increasing 1.19% or $0.21. Shares of the company fluctuated between $17.635 and $17.945 throughout the day.  The shares of Option Care Health Inc. have advanced 4.74% in the last five days; however, they have lost -5.29% over the last month.


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First Quarter 2021 Financial Report

Net revenue of $759.2 million, saw a rise of 7.6% vs $705.4 million in the same quarter of the previous year. Gross profit of $165.5 million, or 21.8% of net revenue, had a rise of 4.7% in comparison to $158.0 million, or 22.4% of revenue, for the same period of the prior year

Net loss of $2.9 million, or $0.02 loss per share, from a net loss of $19.9 million, or $0.11 loss per share, in the quarter of the previous year. Adjusted EBITDA of $52.2 million, had an increment of 30.0% in comparison to $40.2 million in the first quarter of 2020

Cash flow from operations of $18.4 million versus cash flow of $18.4 million in the first quarter of the prior year. Cash balances of $109.4 million as the first quarter completed and no outstanding borrowings on the Company’s $175.0 million revolver.

Business Highlights

Retired all outstanding second lien debt with increased first lien debt in accordance to the Company’s existing credit contract; recorded a debt extinguishment cost of $12.4 million linked with the refinancing

Released Amondys 45™ (casimersen), to treat Duchenne muscular dystrophy in patients with the confirmed mutation, and Uplizna, for the treatment of neuromyelitis optica spectrum disorder

Initiated operations at the Company’s latest, next-generation Care Management Center and Chronic Center of Excellence in Chicago, Illinois.OPCH purchased specific chronic therapy infusion assets fromBioCureRx at a price of $18.5 million.

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Conclusion

Participation of John C. Rademacher, Chief Executive Officer of OPCH, in various virtual conferences surged investor expectation for the company, with OPCH stock price slightly increasing at last check.

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