First Trust Advisors LP Purchases 41,714 Shares of Oscar Health, Inc. $OSCR

Key Points

• First Trust Advisors increased its Oscar Health position by 13.7% in the first quarter, purchasing 41,714 shares for a total of 346,214 shares valued at approximately $3.97 million. Institutional investors collectively own 75.7% of the company.
• Oscar Health reported quarterly EPS of $2.07, beating estimates of $1.11, while revenue rose 52.6% year over year to $4.65 billion, below the $4.90 billion consensus estimate.
• Insiders sold $105.1 million worth of shares over the past 90 days, while analysts maintain a consensus “Hold” rating and an average price target of $22, below the stock’s reported price of $30.17.

First Trust Advisors LP raised its position in Oscar Health, Inc. (NYSE:OSCR - Free Report) by 13.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 346,214 shares of the company's stock after buying an additional 41,714 shares during the period. First Trust Advisors LP owned 0.12% of Oscar Health worth $3,971,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Jones Financial Companies Lllp grew its stake in Oscar Health by 7,473.3% in the 1st quarter. Jones Financial Companies Lllp now owns 2,272 shares of the company's stock valued at $30,000 after purchasing an additional 2,242 shares during the period. Strs Ohio purchased a new stake in Oscar Health during the first quarter worth about $30,000. Fifth Third Bancorp increased its holdings in Oscar Health by 148.7% during the fourth quarter. Fifth Third Bancorp now owns 2,363 shares of the company's stock worth $34,000 after buying an additional 1,413 shares during the last quarter. Quarry LP raised its position in Oscar Health by 439.8% in the third quarter. Quarry LP now owns 1,803 shares of the company's stock worth $34,000 after acquiring an additional 1,469 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in Oscar Health in the first quarter worth about $49,000. Institutional investors own 75.70% of the company's stock.

Oscar Health Stock Down 0.7%

OSCR opened at $30.17 on Thursday. Oscar Health, Inc. has a 12 month low of $10.69 and a 12 month high of $33.10. The company has a market cap of $9.10 billion, a PE ratio of -51.14, a price-to-earnings-growth ratio of 0.89 and a beta of 2.36. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.26. The company has a 50 day moving average of $28.74 and a 200 day moving average of $20.25.

Oscar Health (NYSE:OSCR - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported $2.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.11 by $0.96. Oscar Health had a negative net margin of 0.30% and a negative return on equity of 3.26%. The business had revenue of $4.65 billion for the quarter, compared to analysts' expectations of $4.90 billion. During the same quarter in the previous year, the firm posted $0.92 EPS. The business's revenue for the quarter was up 52.6% compared to the same quarter last year. On average, sell-side analysts expect that Oscar Health, Inc. will post 1.12 EPS for the current year.

Insider Activity at Oscar Health

In related news, Director Mario Schlosser sold 147,500 shares of the stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $29.38, for a total transaction of $4,333,550.00. Following the sale, the director owned 1,360,866 shares of the company's stock, valued at approximately $39,982,243.08. This represents a 9.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Janet Liang sold 12,475 shares of the firm's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $21.94, for a total transaction of $273,701.50. Following the sale, the insider owned 259,057 shares in the company, valued at approximately $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 3,662,466 shares of company stock worth $105,145,815 in the last 90 days. 22.64% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on OSCR shares. Weiss Ratings raised shares of Oscar Health from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday, July 10th. UBS Group lifted their price target on shares of Oscar Health from $15.00 to $20.00 and gave the stock a "neutral" rating in a report on Thursday, May 7th. Piper Sandler reiterated an "overweight" rating and issued a $36.00 price objective on shares of Oscar Health in a research note on Tuesday, July 28th. Wells Fargo & Company set a $20.00 price objective on Oscar Health and gave the company an "equal weight" rating in a report on Thursday, June 4th. Finally, Wolfe Research started coverage on Oscar Health in a report on Tuesday, May 5th. They set a "peer perform" rating for the company. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $22.00.

About Oscar Health

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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