Empowered Funds LLC Invests $6.23 Million in Oscar Health, Inc. $OSCR

Key Points

• Empowered Funds LLC acquired 543,548 Oscar Health shares worth approximately $6.23 million, giving it a 0.18% stake. Institutional investors and hedge funds collectively own 75.70% of OSCR.
• Analysts remain broadly cautious, with a consensus “Hold” rating and an average price target of $26.22, despite several firms recently raising their targets.
• Oscar Health reported stronger-than-expected quarterly results, including $1.10 EPS versus the $0.40 estimate and $4.88 billion in revenue, up 70.4% year over year. The stock opened at $32.68, near its 52-week high of $33.27, while insiders have sold $102.8 million of shares over the past 90 days.

Empowered Funds LLC acquired a new stake in Oscar Health, Inc. (NYSE:OSCR - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 543,548 shares of the company's stock, valued at approximately $6,234,000. Empowered Funds LLC owned 0.18% of Oscar Health at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BIT Capital GmbH boosted its holdings in Oscar Health by 545.0% in the 4th 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 last quarter. Morgan Stanley raised its position in shares of Oscar Health by 42.8% during the 4th quarter. Morgan Stanley now owns 6,814,046 shares of the company's stock valued at $97,918,000 after buying an additional 2,043,758 shares during the period. Bank of America Corp DE lifted its holdings in Oscar Health by 205.1% in the first quarter. Bank of America Corp DE now owns 2,860,310 shares of the company's stock valued at $32,808,000 after acquiring an additional 1,922,732 shares during the last quarter. Thrive Capital Management LLC lifted its holdings in 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 acquiring an additional 1,588,395 shares during the last quarter. Finally, Marshall Wace LLP grew its position in Oscar Health by 3,796.6% in the third quarter. Marshall Wace LLP now owns 1,137,839 shares of the company's stock worth $21,539,000 after acquiring an additional 1,108,638 shares during the period. 75.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on OSCR shares. Barclays raised their target price on Oscar Health from $35.00 to $39.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. UBS Group increased their price target on Oscar Health from $20.00 to $26.00 and gave the stock a "neutral" rating in a report on Friday, August 7th. Wells Fargo & Company increased their price target on Oscar Health from $20.00 to $27.00 and gave the stock an "equal weight" rating in a report on Thursday. Jefferies Financial Group raised Oscar Health from an "underperform" rating to a "hold" rating and raised their price objective for the stock from $10.00 to $16.00 in a research report on Monday, April 20th. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $30.00 price objective on shares of Oscar Health in a report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $26.22.

Insiders Place Their Bets

In related news, CEO Mark T. Bertolini sold 624,244 shares of the business's stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $28.48, for a total transaction of $17,778,469.12. Following the completion of the transaction, the chief executive officer directly owned 7,751,570 shares of the company's stock, valued at $220,764,713.60. The trade was a 7.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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, Director Mario Schlosser sold 147,500 shares of the company's stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $29.38, for a total value of $4,333,550.00. Following the sale, the director owned 1,360,866 shares in the company, valued at approximately $39,982,243.08. This trade represents a 9.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 3,562,466 shares of company stock valued at $102,829,815. 22.64% of the stock is owned by company insiders.

Oscar Health Trading Down 0.2%

NYSE OSCR opened at $32.68 on Monday. Oscar Health, Inc. has a one year low of $10.69 and a one year high of $33.27. The firm has a 50 day simple moving average of $29.65 and a 200-day simple moving average of $20.89. The firm has a market cap of $10.09 billion, a price-to-earnings ratio of 23.34, a PEG ratio of 0.67 and a beta of 2.36. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.09 and a current ratio of 1.09.

Oscar Health (NYSE:OSCR - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.40 by $0.70. The company had revenue of $4.88 billion for the quarter, compared to analyst estimates of $4.73 billion. Oscar Health had a net margin of 3.60% and a return on equity of 38.45%. The firm's quarterly revenue was up 70.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.89) EPS. Equities research analysts anticipate that Oscar Health, Inc. will post 1.54 EPS for the current fiscal year.

Oscar Health Company 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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