Convergence Investment Partners LLC acquired a new position in shares of Oscar Health, Inc. (NYSE:OSCR – Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 105,336 shares of the company’s stock, valued at approximately $1,208,000.
Other large investors have also modified their holdings of the company. BIT Capital GmbH increased its position in Oscar Health by 545.0% during the 4th quarter. BIT Capital GmbH now owns 6,186,267 shares of the company’s stock worth $88,897,000 after purchasing an additional 5,227,152 shares during the period. Morgan Stanley lifted its holdings in shares of Oscar Health by 42.8% in the 4th quarter. Morgan Stanley now owns 6,814,046 shares of the company’s stock valued at $97,918,000 after buying an additional 2,043,758 shares during the period. Thrive Capital Management LLC boosted its stake in shares of Oscar Health by 33.4% in the fourth quarter. Thrive Capital Management LLC now owns 6,343,617 shares of the company’s stock valued at $85,258,000 after buying an additional 1,588,395 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Oscar Health by 3,796.6% in the third quarter. Marshall Wace LLP now owns 1,137,839 shares of the company’s stock valued at $21,539,000 after buying an additional 1,108,638 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its stake in shares of Oscar Health by 11.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 9,217,816 shares of the company’s stock valued at $132,461,000 after buying an additional 910,320 shares in the last quarter. Institutional investors and hedge funds own 75.70% of the company’s stock.
Analyst Ratings Changes
Several research firms have weighed in on OSCR. Wells Fargo & Company set a $20.00 price target on Oscar Health and gave the stock an “equal weight” rating in a research report on Thursday, June 4th. UBS Group upped their price objective on Oscar Health from $15.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Robert W. Baird increased their price objective on Oscar Health from $15.00 to $19.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Wolfe Research started coverage on shares of Oscar Health in a research note on Tuesday, May 5th. They issued a “peer perform” rating for the company. Finally, Weiss Ratings raised shares of Oscar Health from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $20.78.
Oscar Health Price Performance
Shares of NYSE OSCR opened at $30.78 on Wednesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $9.28 billion, a price-to-earnings ratio of -52.17, a price-to-earnings-growth ratio of 1.66 and a beta of 2.34. Oscar Health, Inc. has a twelve month low of $10.69 and a twelve month high of $33.10. The business has a 50 day simple moving average of $27.21 and a 200-day simple moving average of $19.20.
Oscar Health (NYSE:OSCR – Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.96. Oscar Health had a negative return on equity of 3.26% and a negative net margin of 0.30%.The company had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same period in the previous year, the firm posted $0.92 earnings per share. Oscar Health’s quarterly revenue was up 52.6% compared to the same quarter last year. As a group, equities research analysts expect that Oscar Health, Inc. will post 0.59 earnings per share for the current year.
Insiders Place Their Bets
In related news, Director Mario Schlosser sold 880,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $29.38, for a total value of $25,854,400.00. Following the completion of the transaction, the director owned 480,866 shares of the company’s stock, valued at approximately $14,127,843.08. This trade represents a 64.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Janet Liang sold 12,475 shares of Oscar Health stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $21.94, for a total transaction of $273,701.50. Following the transaction, the insider owned 259,057 shares in the company, valued at approximately $5,683,710.58. The trade was a 4.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 3,662,466 shares of company stock worth $105,145,815. 22.64% of the stock is owned by company insiders.
About Oscar Health
Oscar Health, trading on the New York Stock Exchange under the ticker OSCR, is a technology-driven health insurance company headquartered in New York, New York. Founded in 2012 by Mario Schlosser, Joshua Kushner and Kevin Nazemi, the company was built with the goal of simplifying healthcare coverage and enhancing member experience. Oscar leverages a proprietary digital platform to streamline plan enrollment, claims administration and member support, distinguishing itself in the individual, family and small group insurance markets.
The company’s primary products include on-exchange individual and family medical plans under the Affordable Care Act, off-exchange plans, as well as Medicare Advantage offerings.
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