PDT Partners LLC Takes Position in Oscar Health, Inc. $OSCR

Key Points

• PDT Partners LLC acquired 293,673 shares of Oscar Health, valued at approximately $3.85 million, marking a new position for the investment firm in the company's stock in the first quarter.
• Several analysts have downgraded Oscar Health's stock ratings, with Piper Sandler lowering the price target from $14 to $13 and Barclays reducing it from $17 to $11, leading to a consensus average rating of "Strong Sell."
• Oscar Health's latest earnings report revealed a 29% revenue increase year-over-year, though it reported an EPS of ($0.89), which was better than the expected ($0.90).

PDT Partners LLC acquired a new stake in shares of Oscar Health, Inc. (NYSE:OSCR - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 293,673 shares of the company's stock, valued at approximately $3,850,000. PDT Partners LLC owned approximately 0.12% of Oscar Health at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of OSCR. Southeastern Asset Management Inc. TN lifted its position in shares of Oscar Health by 52.2% during the 4th quarter. Southeastern Asset Management Inc. TN now owns 3,131,084 shares of the company's stock worth $42,082,000 after buying an additional 1,073,359 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Oscar Health by 37.8% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,741,306 shares of the company's stock worth $23,403,000 after purchasing an additional 477,634 shares during the last quarter. Man Group plc grew its holdings in Oscar Health by 344.8% during the 4th quarter. Man Group plc now owns 1,813,216 shares of the company's stock worth $24,370,000 after acquiring an additional 1,405,554 shares during the last quarter. Victory Capital Management Inc. increased its position in Oscar Health by 23.8% in the 1st quarter. Victory Capital Management Inc. now owns 285,997 shares of the company's stock valued at $3,749,000 after acquiring an additional 54,938 shares during the period. Finally, Toronto Dominion Bank acquired a new position in shares of Oscar Health during the fourth quarter worth $1,008,000. Institutional investors and hedge funds own 75.70% of the company's stock.

Oscar Health Stock Performance

NYSE:OSCR traded up $1.03 during trading on Friday, reaching $19.41. The company's stock had a trading volume of 16,354,315 shares, compared to its average volume of 16,577,883. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $5.02 billion, a price-to-earnings ratio of -23.96 and a beta of 1.87. Oscar Health, Inc. has a 12 month low of $11.20 and a 12 month high of $23.79. The firm has a 50 day moving average of $15.78 and a 200-day moving average of $15.01.

Oscar Health (NYSE:OSCR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.89) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.90) by $0.01. Oscar Health had a negative net margin of 1.50% and a negative return on equity of 13.78%. The company had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same quarter last year, the business posted $0.20 EPS. Oscar Health's quarterly revenue was up 29.0% compared to the same quarter last year. Research analysts expect that Oscar Health, Inc. will post 0.69 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Wall Street Zen lowered Oscar Health from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Wells Fargo & Company downgraded shares of Oscar Health from an "equal weight" rating to an "underweight" rating and lowered their target price for the stock from $16.00 to $10.00 in a research note on Friday, July 11th. Barclays dropped their price objective on Oscar Health from $17.00 to $11.00 and set an "underweight" rating on the stock in a research note on Wednesday, July 23rd. Baird R W downgraded Oscar Health from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. Finally, Piper Sandler dropped their target price on shares of Oscar Health from $14.00 to $13.00 and set a "neutral" rating on the stock in a research report on Thursday, August 14th. Four equities research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Strong Sell" and an average price target of $12.07.

About Oscar Health

Oscar Health, Inc operates as a health insurance in the United States. The company offers health plans in individual and small group markets, as well as +Oscar, a technology driven platform that help providers and payors directly enable their shift to value-based care. It also provides reinsurance products.