Oscar Health, Inc. (NYSE:OSCR) is BIT Capital GmbH's 3rd Largest Position

Key Points

• BIT Capital GmbH increased its stake in Oscar Health, acquiring an additional 47,592 shares, bringing their total holdings to 4,521,445 shares, representing about 5.1% of their investment portfolio.
• Oscar Health recently reported $0.92 earnings per share for the quarter, exceeding analysts' expectations of $0.83, while the company generated $3 billion in revenue, up 42.2% year-over-year.
• Oscar Health stock has seen analyst ratings shift, with five ratings categorized as sell and five as hold, reflecting varied investor sentiment on its future performance.

BIT Capital GmbH increased its holdings in shares of Oscar Health, Inc. (NYSE:OSCR - Free Report) by 1.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,521,445 shares of the company's stock after buying an additional 47,592 shares during the period. Oscar Health comprises approximately 5.1% of BIT Capital GmbH's portfolio, making the stock its 3rd largest position. BIT Capital GmbH owned 1.80% of Oscar Health worth $59,276,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. XTX Topco Ltd acquired a new stake in Oscar Health during the 1st quarter worth approximately $613,000. IVY Lane Capital Management LLC acquired a new position in shares of Oscar Health in the 1st quarter worth approximately $1,639,000. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Oscar Health in the 1st quarter worth approximately $2,334,000. Glynn Capital Management LLC lifted its position in shares of Oscar Health by 14.0% in the 1st quarter. Glynn Capital Management LLC now owns 3,115,217 shares of the company's stock worth $40,840,000 after purchasing an additional 381,980 shares during the period. Finally, Tempus Wealth Planning LLC lifted its position in shares of Oscar Health by 6.7% in the 1st quarter. Tempus Wealth Planning LLC now owns 14,392 shares of the company's stock worth $189,000 after purchasing an additional 906 shares during the period. 75.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company downgraded shares of Oscar Health from an "equal weight" rating to an "underweight" rating and dropped their price target for the stock from $16.00 to $10.00 in a research report on Friday, July 11th. Barclays dropped 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. Baird R W downgraded shares of Oscar Health from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. Piper Sandler downgraded shares of Oscar Health from an "overweight" rating to a "neutral" rating and set a $14.00 target price on the stock. in a research report on Monday, July 14th. Finally, Wall Street Zen downgraded shares of Oscar Health from a "buy" rating to a "hold" rating in a research report on Sunday, June 8th. Five analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $12.21.

Oscar Health Stock Down 0.6%

OSCR traded down $0.08 during trading on Tuesday, hitting $13.76. 5,968,645 shares of the company's stock were exchanged, compared to its average volume of 12,905,988. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.22. The business's 50 day moving average is $15.86 and its two-hundred day moving average is $14.88. Oscar Health, Inc. has a fifty-two week low of $11.20 and a fifty-two week high of $23.79. The stock has a market cap of $3.50 billion, a P/E ratio of 49.29 and a beta of 1.86.

Oscar Health (NYSE:OSCR - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.09. Oscar Health had a net margin of 1.22% and a return on equity of 10.59%. The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.87 billion. During the same quarter in the prior year, the company posted $0.62 earnings per share. The business's revenue was up 42.2% on a year-over-year basis. As a group, equities analysts expect that Oscar Health, Inc. will post 0.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Oscar Health news, Director Elbert O. Jr. Robinson sold 25,000 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $16.43, for a total transaction of $410,750.00. Following the transaction, the director owned 64,512 shares in the company, valued at approximately $1,059,932.16. This represents a 27.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 25.11% of the company's stock.

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.