Perigon Wealth Management LLC Has $1.23 Million Position in Oscar Health, Inc. $OSCR

Key Points

• Perigon Wealth Management LLC increased its position in Oscar Health, Inc. by 54.2%, now holding 57,460 shares valued at approximately $1.23 million.
• The company reported a net loss of $0.89 EPS for the most recent quarter, slightly beating analysts' expectations by $0.01.
• Oscar Health's stock is currently rated as a "Strong Sell" by analysts, with a consensus price target set at $12.07.

Perigon Wealth Management LLC raised its holdings in Oscar Health, Inc. (NYSE:OSCR - Free Report) by 54.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 57,460 shares of the company's stock after buying an additional 20,190 shares during the period. Perigon Wealth Management LLC's holdings in Oscar Health were worth $1,232,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OSCR. Nuveen LLC acquired a new stake in Oscar Health in the 1st quarter valued at $29,684,000. Thrive Capital Management LLC increased its stake in Oscar Health by 33.4% in 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 last quarter. Vanguard Group Inc. increased its stake in Oscar Health by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 19,698,442 shares of the company's stock valued at $258,247,000 after buying an additional 700,469 shares during the last quarter. American Century Companies Inc. grew its position in shares of Oscar Health by 50.0% in the 1st quarter. American Century Companies Inc. now owns 1,927,261 shares of the company's stock valued at $25,266,000 after acquiring an additional 642,057 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in shares of Oscar Health by 3,878.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 599,488 shares of the company's stock valued at $12,853,000 after acquiring an additional 584,421 shares during the period. 75.70% of the stock is currently owned by institutional investors and hedge funds.

Oscar Health Stock Performance

Shares of OSCR stock opened at $18.41 on Friday. The company has a market capitalization of $4.76 billion, a price-to-earnings ratio of -22.73 and a beta of 1.87. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.86 and a current ratio of 0.86. The company has a 50-day simple moving average of $16.56 and a 200 day simple moving average of $15.37. Oscar Health, Inc. has a 52 week low of $11.20 and a 52 week high of $22.78.

Oscar Health (NYSE:OSCR - Get Free Report) last announced its 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. The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.88 billion. Oscar Health had a negative net margin of 1.50% and a negative return on equity of 13.78%. Oscar Health's revenue was up 29.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.20 EPS. On average, sell-side analysts predict that Oscar Health, Inc. will post 0.69 earnings per share for the current year.

Analyst Ratings Changes

OSCR has been the subject of a number of analyst reports. Barclays decreased their price objective on shares of Oscar Health from $17.00 to $11.00 and set an "underweight" rating for the company in a research report on Wednesday, July 23rd. UBS Group reissued a "sell" rating and issued a $11.00 price objective (down previously from $15.00) on shares of Oscar Health in a research report on Tuesday, July 15th. Wells Fargo & Company downgraded shares of Oscar Health from an "equal weight" rating to an "underweight" rating and decreased their price objective for the company from $16.00 to $10.00 in a research report on Friday, July 11th. Robert W. Baird reissued 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. Finally, Baird R W downgraded shares of Oscar Health from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. Four analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Strong Sell" and a consensus price target of $12.07.

Insider Transactions at Oscar Health

In other Oscar Health news, insider Mario Schlosser sold 395,000 shares of the business's stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $18.43, for a total value of $7,279,850.00. Following the completion of the sale, the insider owned 501,148 shares of the company's stock, valued at $9,236,157.64. The trade was a 44.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 24.39% of the stock is owned by corporate insiders.

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.

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