Annex Advisory Services LLC Decreases Stock Position in Oscar Health, Inc. $OSCR

Key Points

• Annex Advisory Services cut its Oscar Health position by 55.4% in the second quarter, selling 92,426 shares and retaining 74,283 shares valued at approximately $2.12 million.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $25.44, despite ratings ranging from Strong Buy to Peer Perform.
• Oscar Health reported a strong quarterly performance, with adjusted earnings of $1.10 per share versus the $0.40 estimate and revenue of $4.88 billion, up 70.4% year over year. However, insiders sold approximately 3.56 million shares worth $102.8 million over the past 90 days.

Annex Advisory Services LLC cut its position in Oscar Health, Inc. (NYSE:OSCR - Free Report) by 55.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,283 shares of the company's stock after selling 92,426 shares during the period. Annex Advisory Services LLC's holdings in Oscar Health were worth $2,119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Thrive Capital Management LLC grew its holdings in shares of Oscar Health by 33.4% during the fourth quarter. Thrive Capital Management LLC now owns 6,343,617 shares of the company's stock worth $85,258,000 after buying an additional 1,588,395 shares in the last quarter. Baird Financial Group Inc. purchased a new position in shares of Oscar Health in the first quarter worth about $159,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Oscar Health by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 215,650 shares of the company's stock worth $2,827,000 after buying an additional 8,879 shares in the last quarter. Jones Financial Companies Lllp boosted its position in Oscar Health by 7,473.3% during the first quarter. Jones Financial Companies Lllp now owns 2,272 shares of the company's stock worth $30,000 after acquiring an additional 2,242 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Oscar Health by 39.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 470,590 shares of the company's stock valued at $6,169,000 after acquiring an additional 132,149 shares in the last quarter. 75.70% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on OSCR. The Goldman Sachs Group reiterated a "neutral" rating and issued a $30.00 price objective on shares of Oscar Health in a report on Tuesday. Piper Sandler restated an "overweight" rating and issued a $36.00 price target on shares of Oscar Health in a research report on Tuesday, July 28th. Wolfe Research began coverage on Oscar Health in a report on Tuesday, May 5th. They issued a "peer perform" rating for the company. Zacks Research upgraded Oscar Health from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 6th. Finally, UBS Group boosted their price objective on Oscar Health from $20.00 to $26.00 and gave the stock a "neutral" rating in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $25.44.

Insider Transactions at Oscar Health

In related news, Director Mario Schlosser sold 880,000 shares of the company's stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $29.38, for a total value of $25,854,400.00. Following the transaction, the director directly owned 480,866 shares in the company, valued at approximately $14,127,843.08. This represents a 64.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Janet Liang sold 12,475 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $21.94, for a total value of $273,701.50. Following the completion of the transaction, the insider owned 259,057 shares of the company's stock, valued at $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. Insiders sold a total of 3,562,466 shares of company stock valued at $102,829,815 in the last ninety days. 22.64% of the stock is currently owned by corporate insiders.

Oscar Health Price Performance

Shares of OSCR stock opened at $29.79 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market capitalization of $8.98 billion, a PE ratio of 21.28, a price-to-earnings-growth ratio of 0.58 and a beta of 2.36. The firm's 50-day moving average is $29.35 and its two-hundred day moving average is $20.67. Oscar Health, Inc. has a 12 month low of $10.69 and a 12 month high of $33.10.

Oscar Health (NYSE:OSCR - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.70. The business had revenue of $4.88 billion during the quarter, compared to analysts' expectations of $4.73 billion. Oscar Health had a net margin of 3.60% and a return on equity of 44.96%. The business's revenue for the quarter was up 70.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.89) EPS. Analysts predict that Oscar Health, Inc. will post 1.54 earnings per share for the current year.

Oscar Health Profile

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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