Oscar Health, Inc. $OSCR Shares Purchased by Bank of America Corp DE

Key Points

• Bank of America increased its Oscar Health stake by 205.1% in the first quarter, acquiring 1.92 million additional shares and bringing its holdings to 2.86 million shares, worth approximately $32.8 million. Institutional investors and hedge funds collectively own 75.7% of OSCR.
• Analysts maintain a mixed-to-neutral outlook, with a consensus “Hold” rating and an average price target of $26.22. Recent targets range from $16 to $39, while Barclays upgraded its target to $39 with an “overweight” rating.
• Oscar Health reported strong quarterly results, posting $1.10 EPS versus the $0.40 consensus and $4.88 billion in revenue, up 70.4% year over year. However, insiders have sold 3.56 million shares worth about $102.8 million over the past 90 days.

Bank of America Corp DE boosted its position in shares of Oscar Health, Inc. (NYSE:OSCR - Free Report) by 205.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,860,310 shares of the company's stock after acquiring an additional 1,922,732 shares during the quarter. Bank of America Corp DE owned 0.95% of Oscar Health worth $32,808,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Jones Financial Companies Lllp lifted its holdings in Oscar Health by 7,473.3% during the 1st quarter. Jones Financial Companies Lllp now owns 2,272 shares of the company's stock worth $30,000 after buying an additional 2,242 shares in the last quarter. Strs Ohio acquired a new position in shares of Oscar Health in the first quarter worth $30,000. Fifth Third Bancorp grew its stake in shares of Oscar Health by 148.7% in the fourth quarter. Fifth Third Bancorp now owns 2,363 shares of the company's stock worth $34,000 after acquiring an additional 1,413 shares in the last quarter. Quarry LP increased its position in shares of Oscar Health by 439.8% during 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. purchased a new stake in shares of Oscar Health during the first quarter worth $49,000. 75.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on OSCR. Wolfe Research initiated coverage on Oscar Health in a report on Tuesday, May 5th. They issued a "peer perform" rating for the company. Jefferies Financial Group raised Oscar Health from an "underperform" rating to a "hold" rating and increased their price target for the company from $10.00 to $16.00 in a research report on Monday, April 20th. UBS Group lifted their price objective on Oscar Health from $20.00 to $26.00 and gave the company a "neutral" rating in a research note on Friday, August 7th. Wall Street Zen raised Oscar Health from a "buy" rating to a "strong-buy" rating in a research report on Sunday, June 14th. Finally, Barclays upped their target price on shares of Oscar Health from $35.00 to $39.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $26.22.

Insider Activity at Oscar Health

In other Oscar Health news, CFO Richard Scott Blackley sold 31,683 shares of the firm's stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $21.94, for a total transaction of $695,125.02. Following the transaction, the chief financial officer owned 1,074,977 shares of the company's stock, valued at approximately $23,584,995.38. This trade represents a 2.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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 880,000 shares of the business's stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $29.38, for a total value of $25,854,400.00. Following the completion of the sale, the director directly owned 480,866 shares of the company's stock, valued at $14,127,843.08. The trade was a 64.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 3,562,466 shares of company stock valued at $102,829,815. Corporate insiders own 22.64% of the company's stock.

Oscar Health Price Performance

OSCR stock opened at $32.68 on Friday. The business has a 50 day moving average price of $29.65 and a 200 day moving average price of $20.85. The company has a quick ratio of 1.11, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The stock 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. Oscar Health, Inc. has a fifty-two week low of $10.69 and a fifty-two week high of $33.27.

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