Oscar Health, Inc. $OSCR Position Lifted by Fortis Group Advisors LLC

Key Points

• Fortis Group Advisors increased its Oscar Health stake by 82.9% in the fourth quarter, buying an additional 86,035 shares and bringing its total to 189,857 shares worth about $2.7 million.
• Oscar Health beat earnings expectations for the latest quarter, reporting $2.07 EPS versus the $1.11 consensus, though revenue of $4.65 billion came in below estimates. Revenue still rose 52.6% year over year.
• Insider activity was mixed: CEO Mark Bertolini bought 1 million shares in April, while CFO Richard Scott Blackley later sold 100,000 shares in a pre-arranged trading plan.

Fortis Group Advisors LLC raised its stake in shares of Oscar Health, Inc. (NYSE:OSCR - Free Report) by 82.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 189,857 shares of the company's stock after acquiring an additional 86,035 shares during the quarter. Fortis Group Advisors LLC owned approximately 0.07% of Oscar Health worth $2,724,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted 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. Thrive Capital Management LLC boosted its stake in Oscar Health by 33.4% during the 4th 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. American Century Companies Inc. boosted its stake in Oscar Health by 89.0% during the 3rd quarter. American Century Companies Inc. now owns 5,298,340 shares of the company's stock valued at $100,298,000 after acquiring an additional 2,495,691 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Oscar Health by 0.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,718,765 shares of the company's stock valued at $70,400,000 after acquiring an additional 31,785 shares during the last quarter. Finally, Farallon Capital Management LLC boosted its stake in Oscar Health by 146.5% during the 3rd quarter. Farallon Capital Management LLC now owns 3,639,000 shares of the company's stock valued at $68,886,000 after acquiring an additional 2,163,000 shares during the last quarter. 75.70% of the stock is currently owned by institutional investors.

Oscar Health Trading Down 4.6%

Oscar Health stock opened at $23.40 on Thursday. The firm's 50-day moving average is $16.13 and its 200-day moving average is $15.52. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.11 and a current ratio of 1.11. Oscar Health, Inc. has a 1 year low of $10.69 and a 1 year high of $25.58. The company has a market cap of $7.05 billion, a P/E ratio of -39.66, a PEG ratio of 1.71 and a beta of 2.34.

Oscar Health (NYSE:OSCR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $2.07 earnings per share (EPS) for the quarter, topping 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 company had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.90 billion. During the same period last year, the firm posted $0.92 EPS. The company's revenue for the quarter was up 52.6% on a year-over-year basis. On average, equities analysts expect that Oscar Health, Inc. will post 0.47 earnings per share for the current year.

Insider Transactions at Oscar Health

In other news, CEO Mark T. Bertolini acquired 1,000,000 shares of the company's stock in a transaction that occurred on Monday, April 6th. The shares were acquired at an average price of $11.92 per share, with a total value of $11,920,000.00. Following the acquisition, the chief executive officer directly owned 10,196,876 shares in the company, valued at approximately $121,546,761.92. The trade was a 10.87% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Richard Scott Blackley sold 100,000 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $23.16, for a total transaction of $2,316,000.00. Following the completion of the sale, the chief financial officer directly owned 1,216,660 shares in the company, valued at approximately $28,177,845.60. This trade represents a 7.59% 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. 24.39% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on OSCR shares. Wolfe Research started coverage on shares of Oscar Health in a research note on Tuesday, May 5th. They set a "peer perform" rating on the stock. Raymond James Financial upgraded shares of Oscar Health from a "market perform" rating to an "outperform" rating and set a $18.00 price objective on the stock in a research note on Thursday, February 12th. UBS Group raised their price target on shares of Oscar Health from $15.00 to $20.00 and gave the stock a "neutral" rating in a research report on Thursday, May 7th. Weiss Ratings restated a "sell (d)" rating on shares of Oscar Health in a research report on Tuesday, April 21st. Finally, Zacks Research upgraded shares of Oscar Health from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Oscar Health has an average rating of "Hold" and an average target price of $18.22.

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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