Assenagon Asset Management S.A. Grows Stock Holdings in Oscar Health, Inc. $OSCR

Key Points

• Assenagon Asset Management S.A. increased its holdings in Oscar Health by 3,878.8% in Q2, acquiring 584,421 additional shares to own a total of 599,488 shares valued at approximately $12.85 million.
• Oscar Health experienced a 2.5% decline in its stock price, with shares trading at $18.50 and a market capitalization of $4.78 billion.
• Recent analyst ratings for Oscar Health are largely negative, with the consensus rating classified as a "Strong Sell" and an average target price of $12.07.

Assenagon Asset Management S.A. raised its position in Oscar Health, Inc. (NYSE:OSCR - Free Report) by 3,878.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 599,488 shares of the company's stock after acquiring an additional 584,421 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.24% of Oscar Health worth $12,853,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of OSCR. Nuveen LLC purchased a new position in shares of Oscar Health in the first quarter valued at about $29,684,000. Thrive Capital Management LLC increased its position 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 valued at $85,258,000 after buying an additional 1,588,395 shares during the period. Vanguard Group Inc. increased its position in shares of Oscar Health by 3.7% during the first quarter. Vanguard Group Inc. now owns 19,698,442 shares of the company's stock valued at $258,247,000 after buying an additional 700,469 shares during the period. American Century Companies Inc. increased its position in shares of Oscar Health by 50.0% during the first quarter. American Century Companies Inc. now owns 1,927,261 shares of the company's stock valued at $25,266,000 after buying an additional 642,057 shares during the period. Finally, Fred Alger Management LLC increased its position in shares of Oscar Health by 1,192.7% during the first quarter. Fred Alger Management LLC now owns 574,536 shares of the company's stock valued at $7,532,000 after buying an additional 530,091 shares during the period. Hedge funds and other institutional investors own 75.70% of the company's stock.

Oscar Health Trading Down 2.5%

Shares of OSCR opened at $18.50 on Tuesday. Oscar Health, Inc. has a 1-year low of $11.20 and a 1-year high of $23.09. The company has a 50-day moving average of $16.26 and a 200 day moving average of $15.28. The firm has a market capitalization of $4.78 billion, a price-to-earnings ratio of -22.84 and a beta of 1.87. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.86 and a quick ratio of 0.86.

Oscar Health (NYSE:OSCR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.89) earnings per share for the quarter, beating analysts' consensus estimates 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. The firm's revenue for the quarter was up 29.0% on a year-over-year basis. On average, research analysts expect that Oscar Health, Inc. will post 0.69 EPS for the current year.

Wall Street Analyst Weigh In

OSCR has been the topic of several research analyst reports. Barclays reduced their price target on shares of Oscar Health from $17.00 to $11.00 and set an "underweight" rating on the stock in a research report on Wednesday, July 23rd. Robert W. Baird reiterated a "neutral" rating and set a $14.00 price target (down previously from $28.00) on shares of Oscar Health in a research report on Friday, July 25th. Wall Street Zen cut shares of Oscar Health from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Baird R W cut shares of Oscar Health from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. Finally, Wells Fargo & Company cut shares of Oscar Health from an "equal weight" rating to an "underweight" rating and cut their price objective for the stock from $16.00 to $10.00 in a report on Friday, July 11th. Four investment analysts have rated the stock with a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Strong Sell" and an average target price of $12.07.

Oscar Health 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.

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