Assenagon Asset Management S.A. Raises Stake in Oscar Health, Inc. $OSCR

Key Points

• Assenagon Asset Management increased its stake in Oscar Health by 91.6% in the first quarter, buying an additional 587,043 shares and bringing its total holding to 1,227,803 shares valued at about $14.1 million.
• Insiders sold shares recently, including Adam Mcananey and Janet Liang, with total insider sales reaching 1.22 million shares worth about $34.5 million over the last 90 days, much of it tied to tax withholding from equity vesting.
• Oscar Health beat earnings expectations in its latest quarter, reporting EPS of $2.07 versus the $1.11 estimate, while revenue rose 52.6% year over year; however, analysts still maintain a Hold consensus with an average price target of $20.78.

Assenagon Asset Management S.A. raised its holdings in Oscar Health, Inc. (NYSE:OSCR - Free Report) by 91.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,227,803 shares of the company's stock after purchasing an additional 587,043 shares during the quarter. Assenagon Asset Management S.A. owned about 0.41% of Oscar Health worth $14,083,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in Oscar Health by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 20,701,250 shares of the company's stock valued at $297,477,000 after acquiring an additional 540,851 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Oscar Health by 11.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 9,217,816 shares of the company's stock valued at $132,461,000 after purchasing an additional 910,320 shares during the last quarter. Morgan Stanley grew its stake 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 purchasing an additional 2,043,758 shares during the last quarter. Thrive Capital Management LLC increased its holdings 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 purchasing an additional 1,588,395 shares during the period. Finally, BIT Capital GmbH increased its holdings in shares of Oscar Health by 545.0% in the fourth quarter. BIT Capital GmbH now owns 6,186,267 shares of the company's stock valued at $88,897,000 after purchasing an additional 5,227,152 shares during the period. 75.70% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Oscar Health

In other news, insider Adam Mcananey sold 9,859 shares of Oscar Health stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $21.94, for a total transaction of $216,306.46. Following the completion of the sale, the insider directly owned 218,096 shares in the company, valued at approximately $4,785,026.24. This trade represents a 4.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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. Also, insider Janet Liang sold 12,475 shares of the business's 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 sale, the insider directly owned 259,057 shares in the company, valued at $5,683,710.58. This trade represents a 4.59% decrease in their position. The SEC filing for this sale provides additional information. 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 1,217,160 shares of company stock valued at $34,471,090 in the last ninety days. Company insiders own 24.39% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on OSCR shares. UBS Group increased their price target on Oscar Health from $15.00 to $20.00 and gave the stock a "neutral" rating in a report on Thursday, May 7th. Jefferies Financial Group raised shares of Oscar Health from an "underperform" rating to a "hold" rating and boosted their price objective for the company from $10.00 to $16.00 in a research note on Monday, April 20th. Zacks Research downgraded shares of Oscar Health from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 5th. Wells Fargo & Company set a $20.00 target price on shares of Oscar Health and gave the stock an "equal weight" rating in a research note on Thursday, June 4th. Finally, Weiss Ratings downgraded shares of Oscar Health from a "sell (d+)" rating to a "sell (d)" rating in a report on Wednesday. Three research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $20.78.

Oscar Health Trading Up 3.8%

Shares of OSCR stock opened at $29.77 on Friday. The business's fifty day moving average price is $23.03 and its 200 day moving average price is $17.36. Oscar Health, Inc. has a 1-year low of $10.69 and a 1-year high of $30.38. The firm has a market capitalization of $8.97 billion, a PE ratio of -50.45, a P/E/G ratio of 2.08 and a beta of 2.37. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.11 and a quick ratio of 1.11.

Oscar Health (NYSE:OSCR - Get Free Report) last released 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 quarter last year, the company earned $0.92 earnings per share. Oscar Health's quarterly revenue was up 52.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Oscar Health, Inc. will post 0.47 EPS for the current fiscal 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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