Option Care Health jumps after positive preliminary Q4 results, buyback boost

Shares of home healthcare services provider Option Care Health OPCH.O up 9.2% on Tues to $35.01 after preliminary Q4 results topped Wall Street's expectations, and co doubled its stock buyback program

OPCH hits highest since Mar and stock on track for biggest daily pct gain in exactly one year

Bannockburn, Illinois-based firm late Mon said expects Q4 net rev of $1.46-$1.47 bln and adj EPS of 46-49 cents; analysts had modeled rev of $1.46 bln and earnings of 46 cents, per LSEG data

Co said its board on Jan 9 approved an increase to its 2025 share repurchase program authorization from $500 mln to $1 bln

It also issued FY2026 preliminary guidance of $5.8-$6 bln net rev and adj EPS of $1.82-$1.92

Morgan Stanley lifted its PT by $3 to $38, Jefferies raised its PT by $5 to $37

Jefferies, which has a 'buy' rating, said in note it views the pre-announcement positively as it provides clarity on co's path forward and highlights strong underlying growth trends

Including the move on the session, OPCH up about 25% over the past 12 months

11 of 12 brokerages rate the stock "strong buy" or "buy", 1 "hold"; median PT $38