Oscar Health, Inc. $OSCR Stock: Assenagon Asset Management S.A. Increases Position

Key Points

• Assenagon Asset Management more than doubled its Oscar Health stake in the third quarter, adding 1.34 million shares to hold 2.59 million shares valued at approximately $79.9 million. Institutional investors collectively own 75.7% of OSCR.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $34.90. Recent target increases included UBS to $36 and Robert W. Baird to $33.
• Oscar Health reported strong quarterly results, posting $1.10 in EPS versus $0.40 expected and $4.88 billion in revenue, up 70.4% year over year. The stock opened at $31.87, near its 12-month high of $35.01, while insiders sold shares primarily under pre-arranged plans to cover tax obligations.

Assenagon Asset Management S.A. lifted its holdings in shares of Oscar Health, Inc. (NYSE:OSCR - Free Report) by 107.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,589,708 shares of the company's stock after purchasing an additional 1,341,716 shares during the period. Assenagon Asset Management S.A. owned about 0.84% of Oscar Health worth $79,867,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings in Oscar Health by 32.9% in the 2nd quarter. GAMMA Investing LLC now owns 1,441 shares of the company's stock worth $41,000 after acquiring an additional 357 shares during the last quarter. IFP Advisors Inc lifted its holdings in Oscar Health by 69.5% during the second quarter. IFP Advisors Inc now owns 2,139 shares of the company's stock valued at $61,000 after purchasing an additional 877 shares during the last quarter. CoreCap Advisors LLC boosted its position in Oscar Health by 526.3% during the second quarter. CoreCap Advisors LLC now owns 1,190 shares of the company's stock worth $34,000 after purchasing an additional 1,000 shares during the period. Nicholas Wealth LLC. boosted its position in Oscar Health by 1.3% during the first quarter. Nicholas Wealth LLC. now owns 80,268 shares of the company's stock worth $921,000 after purchasing an additional 1,017 shares during the period. Finally, Allworth Financial LP boosted its position in Oscar Health by 124.9% during the second quarter. Allworth Financial LP now owns 2,031 shares of the company's stock worth $58,000 after purchasing an additional 1,128 shares during the period. 75.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on OSCR. UBS Group increased their target price on Oscar Health from $26.00 to $36.00 and gave the stock a "neutral" rating in a research report on Monday. Robert W. Baird lifted their price target on Oscar Health from $27.00 to $33.00 and gave the company a "neutral" rating in a research report on Thursday, September 17th. Bank of America lifted their price target on Oscar Health from $28.00 to $30.00 and gave the company an "underperform" rating in a research report on Thursday, September 17th. Zacks Research raised Oscar Health from a "hold" rating to a "strong-buy" rating in a report on Monday, July 6th. Finally, Stephens reissued an "equal weight" rating and set a $34.00 price objective on shares of Oscar Health in a report on Thursday, September 17th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Oscar Health has a consensus rating of "Hold" and a consensus target price of $34.90.

Oscar Health Stock Performance

Shares of NYSE:OSCR opened at $31.87 on Friday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average price of $31.48 and a 200-day moving average price of $26.60. The company has a market cap of $9.84 billion, a price-to-earnings ratio of 22.76, a price-to-earnings-growth ratio of 0.37 and a beta of 2.47. Oscar Health, Inc. has a 12 month low of $10.69 and a 12 month high of $35.01.

Oscar Health (NYSE:OSCR - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $1.10 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.70. The company had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $4.73 billion. Oscar Health had a return on equity of 38.45% and a net margin of 3.60%. The firm's revenue for the quarter was up 70.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.89) earnings per share. As a group, equities analysts anticipate that Oscar Health, Inc. will post 1.83 EPS for the current year.

Insider Buying and Selling

In related news, CFO Richard Blackley sold 28,869 shares of the firm's stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $31.45, for a total transaction of $907,930.05. Following the completion of the sale, the chief financial officer owned 1,046,108 shares of the company's stock, valued at $32,900,096.60. This trade represents a 2.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 31,422 shares of the business's stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $31.45, for a total value of $988,221.90. Following the completion of the transaction, the director owned 449,444 shares of the company's stock, valued at $14,135,013.80. This represents a 6.53% 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 have sold a total of 874,451 shares of company stock worth $26,761,671 over the last three months. Corporate insiders own 22.64% of the company's stock.

About Oscar Health

Oscar Health, Inc is a technology-driven health insurance company that provides health plans and related services to individuals, families and businesses in the United States. The company primarily serves members through plans offered under the Affordable Care Act (ACA), including individual and family coverage purchased through government marketplaces.

Oscar's offerings include medical insurance plans with access to provider networks, prescription drug coverage and member support services.

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