Oscar Health, Inc. $OSCR Shares Acquired by Geode Capital Management LLC

Key Points

• Geode Capital Management increased its stake in Oscar Health by 2.5% in the fourth quarter, bringing its holdings to 4.8 million shares worth about $69 million. Overall, institutional investors and hedge funds now own 75.7% of the company.
• Oscar Health reported Q1 earnings of $2.07 per share, beating analyst expectations, while revenue rose 52.6% year over year to $4.65 billion. Despite the strong growth, the company posted a negative net margin and return on equity.
• Analysts have a mixed view on OSCR, with recent rating changes including upgrades from Zacks and Raymond James, but the broader consensus remains Hold with an average price target of $20.22.

Geode Capital Management LLC lifted its stake in shares of Oscar Health, Inc. (NYSE:OSCR - Free Report) by 2.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,798,313 shares of the company's stock after purchasing an additional 116,430 shares during the period. Geode Capital Management LLC owned 1.81% of Oscar Health worth $68,964,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in OSCR. American Century Companies Inc. boosted its holdings in shares of Oscar Health by 89.0% during the 3rd quarter. American Century Companies Inc. now owns 5,298,340 shares of the company's stock worth $100,298,000 after purchasing an additional 2,495,691 shares during the last quarter. Farallon Capital Management LLC boosted its holdings in shares of Oscar Health by 146.5% during the 3rd quarter. Farallon Capital Management LLC now owns 3,639,000 shares of the company's stock worth $68,886,000 after purchasing an additional 2,163,000 shares during the last quarter. Thrive Capital Management LLC raised its position in shares of 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 buying an additional 1,588,395 shares during the period. Marshall Wace LLP raised its position in shares of Oscar Health by 3,796.6% during the 3rd quarter. Marshall Wace LLP now owns 1,137,839 shares of the company's stock valued at $21,539,000 after buying an additional 1,108,638 shares during the period. Finally, Fred Alger Management LLC raised its position in shares of Oscar Health by 225.6% during the 3rd quarter. Fred Alger Management LLC now owns 1,212,383 shares of the company's stock valued at $22,950,000 after buying an additional 840,038 shares during the period. 75.70% of the stock is currently owned by institutional investors and hedge funds.

Oscar Health Stock Performance

NYSE:OSCR opened at $27.37 on Tuesday. The company has a fifty day simple moving average of $18.70 and a two-hundred day simple moving average of $16.16. The company has a market cap of $8.25 billion, a price-to-earnings ratio of -46.39, a price-to-earnings-growth ratio of 1.71 and a beta of 2.37. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.26. Oscar Health, Inc. has a 52 week low of $10.69 and a 52 week high of $27.59.

Oscar Health (NYSE:OSCR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $2.07 EPS for the quarter, topping the consensus estimate of $1.11 by $0.96. The business had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.90 billion. Oscar Health had a negative net margin of 0.30% and a negative return on equity of 3.26%. The company's quarterly revenue was up 52.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.92 earnings per share. As a group, equities analysts anticipate that Oscar Health, Inc. will post 0.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on OSCR. Zacks Research raised shares of Oscar Health from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 7th. Raymond James Financial raised shares of Oscar Health from a "market perform" rating to an "outperform" rating and set a $18.00 price target on the stock in a research report on Thursday, February 12th. Wall Street Zen lowered shares of Oscar Health from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Wells Fargo & Company set a $20.00 price target on shares of Oscar Health and gave the company an "equal weight" rating in a research report on Thursday. Finally, UBS Group lifted their price target on shares of Oscar Health from $15.00 to $20.00 and gave the company a "neutral" 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, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $20.22.

Insiders Place Their Bets

In other Oscar Health news, insider Adam Mcananey sold 9,859 shares of the business's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $21.94, for a total value of $216,306.46. Following the completion of the transaction, the insider owned 218,096 shares in the company, valued at $4,785,026.24. The trade was a 4.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 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 34,120 shares of the business's stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $21.94, for a total transaction of $748,592.80. Following the completion of the transaction, the director owned 480,866 shares of the company's stock, valued at approximately $10,550,200.04. This trade represents a 6.63% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Over the last quarter, insiders have sold 189,660 shares of company stock valued at $4,283,140. Corporate insiders own 25.11% of the company's stock.

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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