A Step In the Right Direction, More Prudent Guidance

研报英文原文证据摘录

A Step In the Right Direction, More Prudent Guidance

Update

July 29, 2026 12:10 PM GMT

Morgan Stanley & Co. LLCMOption Care Health | North America Erin Wright

Equity Analyst

A Step In the Right Direction, Erin.Wright1@morganstanley.comMichelle Foley +1 212 761-6137

Research Associate

Michelle.Foley@morganstanley.com +1 212 761-4056

More Prudent Guidance Linda Bolduc

Linda.Bolduc@morganstanley.com +1 617 856-8009

AlphaSignals Earnings Reaction Derek Gross

Unchanged Modest upside Largely unchanged Derek.Gross@morganstanley.com +1 212 761-2455

Impact to our thesis Financial results versus consensus Direction of next 12-month Craig Hettenbach

consensus EPS

Source: Company data, Morgan Stanley Research Craig.Hettenbach@morganstanley.com +1 212 761-6435

Jialin Jin

Shares Should Rise; Lowered Guide Likely More Reasonable & Offers Some Research Associate

Jay.Jin@morganstanley.com +1 212 761-3913

Reassurance of Path Forward as OPCH Rebuilds Credibility: 2Q EPS of $0.45 was

ahead vs. Cons $0.43, with EBITDA and EBITDA margin $117M / 8.1% also ahead vs. Option Care Health (OPCH.O, OPCH US)

Cons $113M / 8.0%. EBITDA grew +3% y/y and margin was ~flat y/y. OPCH Healthcare Services & Distribution | United States of

repurchased ~$150M of stock in the qtr. 2026 guidance was the key focus into the America

Stock Rating Overweight

print, where there was uncertainty coming out of 1Q given the 2H ramp that hinges Industry View Attractive

largely on OPCH SG&A cost cutting. Reducing the EBITDA guidance slightly at the Price target $28.00

Shr price, close (Jul 28, 2026) $22.48

high end (now $480-$495M vs. prior $480-$505M) should be seen as setting more Mkt cap, curr (mm) $3,705

reasonable targets, while also indicating that OPCH is on track to hit this range, 52-Week Range $36.80-18.01