Option Care (OPCH) Climbs 5.9% on US Healthcare Developments

Option Care Health Inc. (NASDAQ:OPCH) is one of the 10 Stocks With Powerful Gains.

Shares of Option Care rallied for a second day on Tuesday, jumping 5.94 percent to close at $20.86 apiece, as investors turned optimistic for the broader healthcare sector after the Centers for Medicare & Medicaid Services (CMS) announced updates to the Affordable Care Act (ACA), which could pave the way for expanded access to healthcare.

Option Care Health Inc. (NASDAQ:OPCH) mimicked its counterparts after the CMS on Friday said that it would lower the user fees for federally-facilitated exchanges to 1.9 percent from 2.5 percent, as well as state-based exchanges to 1.5 percent from 2 percent, beginning next year.

Photo by Gustavo Fring on Pexels

The move is expected to result in lower fees for the insured and increase enrollments, thus indirectly benefiting healthcare services providers, including Option Care Health Inc. (NASDAQ:OPCH).

The agency also implemented stricter rules to ensure that only qualified individuals get government health insurance subsidies.

In other news, Option Care Health Inc. (NASDAQ:OPCH) reported a 3 percent decline in its net income in the first quarter of the year to $45.3 million from $46.7 million in the same period last year. Net revenues inched up by 1.3 percent to $1.35 billion from $1.3 billion year-on-year.

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