Adage Capital Partners GP L.L.C. Invests $6.73 Million in Oscar Health, Inc. $OSCR

Key Points

• Adage Capital Partners GP L.L.C. has made a new investment of approximately $6.73 million in Oscar Health, acquiring 513,256 shares during the first quarter.
• Multiple institutional investors have increased their stakes in Oscar Health, with significant purchases by Nuveen LLC and Thrive Capital Management LLC.
• Oscar Health has faced predominantly negative analyst ratings, with a consensus rating of "Strong Sell" and a reduced average price target of $12.07 per share.

Adage Capital Partners GP L.L.C. bought a new position in Oscar Health, Inc. (NYSE:OSCR - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 513,256 shares of the company's stock, valued at approximately $6,729,000. Adage Capital Partners GP L.L.C. owned approximately 0.20% of Oscar Health as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of OSCR. Nuveen LLC purchased a new stake in shares of Oscar Health during the first quarter valued at approximately $29,684,000. Thrive Capital Management LLC raised its position in Oscar Health by 33.4% during the 4th quarter. Thrive Capital Management LLC now owns 6,343,617 shares of the company's stock valued at $85,258,000 after purchasing an additional 1,588,395 shares during the last quarter. Man Group plc grew its stake in shares of Oscar Health by 344.8% in the 4th quarter. Man Group plc now owns 1,813,216 shares of the company's stock worth $24,370,000 after buying an additional 1,405,554 shares during the last quarter. Southeastern Asset Management Inc. TN boosted its stake in 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 valued at $42,082,000 after purchasing an additional 1,073,359 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in Oscar Health by 3,062.3% in the 4th quarter. Ameriprise Financial Inc. now owns 976,563 shares of the company's stock worth $13,125,000 after purchasing an additional 945,682 shares during the period. 75.70% of the stock is owned by institutional investors.

Oscar Health Price Performance

NYSE:OSCR traded down $0.59 during mid-day trading on Wednesday, reaching $19.46. 23,992,153 shares of the company were exchanged, compared to its average volume of 13,804,162. The stock has a market cap of $5.03 billion, a PE ratio of -24.02 and a beta of 1.87. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.26. Oscar Health, Inc. has a 12 month low of $11.20 and a 12 month high of $23.79. The company has a fifty day moving average of $15.75 and a 200 day moving average of $15.07.

Oscar Health (NYSE:OSCR - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.89) earnings per share for the quarter, beating 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 analysts' expectations of $2.88 billion. During the same quarter in the prior year, the company earned $0.20 earnings per share. The business's quarterly revenue was up 29.0% compared to the same quarter last year. On average, research analysts anticipate that Oscar Health, Inc. will post 0.69 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on OSCR. UBS Group reiterated a "sell" rating and issued a $11.00 price target (down previously from $15.00) on shares of Oscar Health in a report on Tuesday, July 15th. Barclays dropped their target price on shares of Oscar Health from $17.00 to $11.00 and set an "underweight" rating for the company in a report on Wednesday, July 23rd. Baird R W cut shares of Oscar Health from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. Wall Street Zen lowered shares of Oscar Health from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Finally, Raymond James Financial downgraded shares of Oscar Health from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 24th. Four investment analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Strong Sell" and a consensus target price of $12.07.

Oscar Health Company Profile

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.