Canada Pension Plan Investment Board Sells 553,400 Shares of Oscar Health, Inc. $OSCR

Key Points

• Canada Pension Plan Investment Board has reduced its stake in Oscar Health, Inc. by 57.8%, now holding 404,800 shares after selling 553,400 shares in the first quarter.
• Oscar Health's stock has received multiple downgrades from analysts, with a consensus rating of "Strong Sell" and an average price target of $12.07.
• Despite a revenue increase of 29.0% year-over-year, Oscar Health reported a loss of ($0.89) earnings per share, slightly beating the analyst estimate.

Canada Pension Plan Investment Board reduced its holdings in shares of Oscar Health, Inc. (NYSE:OSCR - Free Report) by 57.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 404,800 shares of the company's stock after selling 553,400 shares during the quarter. Canada Pension Plan Investment Board owned 0.16% of Oscar Health worth $5,307,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Hsbc Holdings PLC grew its holdings in shares of Oscar Health by 2.7% during the 1st quarter. Hsbc Holdings PLC now owns 24,113 shares of the company's stock worth $313,000 after purchasing an additional 632 shares in the last quarter. Tempus Wealth Planning LLC raised its holdings in Oscar Health by 6.7% in the 1st quarter. Tempus Wealth Planning LLC now owns 14,392 shares of the company's stock valued at $189,000 after acquiring an additional 906 shares in the last quarter. Xponance Inc. grew its position in Oscar Health by 7.1% during the 1st quarter. Xponance Inc. now owns 15,423 shares of the company's stock worth $202,000 after acquiring an additional 1,029 shares during the last quarter. CWM LLC boosted its holdings in Oscar Health by 50.7% in the first quarter. CWM LLC now owns 3,204 shares of the company's stock worth $42,000 after acquiring an additional 1,078 shares in the last quarter. Finally, Corebridge Financial Inc. grew its position in Oscar Health by 1.1% during the first quarter. Corebridge Financial Inc. now owns 100,119 shares of the company's stock valued at $1,313,000 after buying an additional 1,087 shares during the period. 75.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Raymond James Financial downgraded Oscar Health from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 24th. Robert W. Baird reiterated a "neutral" rating and issued a $14.00 price objective (down previously from $28.00) on shares of Oscar Health in a research report on Friday, July 25th. UBS Group reiterated a "sell" rating and set a $11.00 target price (down from $15.00) on shares of Oscar Health in a report on Tuesday, July 15th. Wells Fargo & Company cut Oscar Health from an "equal weight" rating to an "underweight" rating and lowered their price target for the stock from $16.00 to $10.00 in a report on Friday, July 11th. Finally, Barclays lowered their price target on Oscar Health from $17.00 to $11.00 and set an "underweight" rating for the company in a report on Wednesday, July 23rd. Four investment analysts have rated the stock with a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Strong Sell" and an average price target of $12.07.

Oscar Health Stock Up 2.9%

OSCR traded up $0.57 during trading on Monday, hitting $20.00. 15,237,771 shares of the company's stock were exchanged, compared to its average volume of 13,695,936. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.26. The stock has a market cap of $5.17 billion, a P/E ratio of -24.69 and a beta of 1.87. Oscar Health, Inc. has a fifty-two week low of $11.20 and a fifty-two week high of $23.79. The business's 50 day moving average is $15.78 and its two-hundred day moving average is $15.00.

Oscar Health (NYSE:OSCR - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.89) EPS for the quarter, topping the consensus estimate of ($0.90) by $0.01. Oscar Health had a negative net margin of 1.50% and a negative return on equity of 13.78%. The firm had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same period last year, the firm posted $0.20 earnings per share. The business's revenue was up 29.0% compared to the same quarter last year. As a group, equities analysts expect that Oscar Health, Inc. will post 0.69 earnings per share for the current fiscal 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.