First Light Asset Management LLC Cuts Stock Holdings in Oscar Health, Inc. $OSCR

Key Points

• First Light Asset Management LLC decreased its position in Oscar Health by 4.5%, owning 522,302 shares worth around $6.85 million after selling 24,520 shares in the first quarter.
• Oscar Health's stock has declined by 3.4% and has a market cap of $4.31 billion, with a current ratio and quick ratio both at 0.86.
• Analyst ratings for Oscar Health have turned negative, with a consensus rating of "Strong Sell" and a target price of $12.07, after several downgrades from investment firms.

First Light Asset Management LLC lessened its holdings in Oscar Health, Inc. (NYSE:OSCR - Free Report) by 4.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 522,302 shares of the company's stock after selling 24,520 shares during the quarter. Oscar Health makes up approximately 0.8% of First Light Asset Management LLC's investment portfolio, making the stock its 28th largest position. First Light Asset Management LLC owned 0.21% of Oscar Health worth $6,847,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Southeastern Asset Management Inc. TN raised its holdings in Oscar Health by 52.2% during the 4th quarter. Southeastern Asset Management Inc. TN now owns 3,131,084 shares of the company's stock worth $42,082,000 after purchasing an additional 1,073,359 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of Oscar Health by 37.8% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,741,306 shares of the company's stock worth $23,403,000 after buying an additional 477,634 shares during the period. Man Group plc grew its position in shares of Oscar Health by 344.8% during the 4th quarter. Man Group plc now owns 1,813,216 shares of the company's stock worth $24,370,000 after buying an additional 1,405,554 shares during the period. Victory Capital Management Inc. grew its position in shares of Oscar Health by 23.8% during the 1st quarter. Victory Capital Management Inc. now owns 285,997 shares of the company's stock worth $3,749,000 after buying an additional 54,938 shares during the period. Finally, Toronto Dominion Bank acquired a new stake in shares of Oscar Health during the 4th quarter worth approximately $1,008,000. Institutional investors own 75.70% of the company's stock.

Analyst Upgrades and Downgrades

OSCR has been the subject of several recent analyst reports. Barclays reduced their price objective on shares of Oscar Health from $17.00 to $11.00 and set an "underweight" rating for the company in a research report on Wednesday, July 23rd. UBS Group reiterated a "sell" rating and issued a $11.00 target price (down from $15.00) on shares of Oscar Health in a report on Tuesday, July 15th. Robert W. Baird reiterated a "neutral" rating and issued a $14.00 target price (down from $28.00) on shares of Oscar Health in a report on Friday, July 25th. Wells Fargo & Company cut Oscar Health from an "equal weight" rating to an "underweight" rating and dropped their price objective for the company from $16.00 to $10.00 in a research note on Friday, July 11th. Finally, Piper Sandler dropped their price objective on Oscar Health from $14.00 to $13.00 and set a "neutral" rating on the stock in a research note on Thursday, August 14th. Four analysts have rated the stock with a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Strong Sell" and a consensus target price of $12.07.

Oscar Health Stock Performance

OSCR traded up $1.03 during trading hours on Friday, hitting $19.41. The stock had a trading volume of 16,354,315 shares, compared to its average volume of 16,577,883. The company's fifty day simple moving average is $15.78 and its 200 day simple moving average is $15.01. Oscar Health, Inc. has a 1 year low of $11.20 and a 1 year high of $23.79. The stock has a market cap of $5.02 billion, a PE ratio of -23.96 and a beta of 1.87. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.26.

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, topping the consensus estimate of ($0.90) by $0.01. Oscar Health had a negative return on equity of 13.78% and a negative net margin of 1.50%.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 firm posted $0.20 EPS. The firm's revenue for the quarter was up 29.0% on a year-over-year basis. Equities analysts anticipate that Oscar Health, Inc. will post 0.69 earnings per share for the current year.

About Oscar Health

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.