Price T Rowe Associates Inc. MD Sells 1,419,606 Shares of Oscar Health, Inc. $OSCR

Key Points

• Price T Rowe Associates Inc. MD reduced its stake in Oscar Health by 29.9%, selling 1,419,606 shares, which leaves them with approximately 3.33 million shares valued at $43.6 million.
• Oscar Health reported a negative earnings per share of ($0.89), slightly beating estimates, while revenue of $2.86 billion showed a year-over-year increase of 29%.
• Recent analyst reports indicate a bearish outlook, with several firms downgrading Oscar Health’s stock rating and lowering price targets, reflecting an average rating of "Strong Sell" and a target price of $12.07.

Price T Rowe Associates Inc. MD lessened its stake in shares of Oscar Health, Inc. (NYSE:OSCR - Free Report) by 29.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,325,296 shares of the company's stock after selling 1,419,606 shares during the quarter. Price T Rowe Associates Inc. MD owned about 1.33% of Oscar Health worth $43,596,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. grew its holdings in Oscar Health by 4.1% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 11,826,245 shares of the company's stock valued at $155,043,000 after buying an additional 467,301 shares in the last quarter. Hsbc Holdings PLC grew its holdings in shares of Oscar Health by 2.7% during the first 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. Cliffwater LLC purchased a new position in shares of Oscar Health during the first quarter worth about $58,000. Raymond James Financial Inc. grew its holdings in shares of Oscar Health by 1.0% during the first quarter. Raymond James Financial Inc. now owns 497,143 shares of the company's stock worth $6,518,000 after purchasing an additional 5,097 shares in the last quarter. Finally, Cresset Asset Management LLC purchased a new position in shares of Oscar Health during the first quarter worth about $762,000. Hedge funds and other institutional investors own 75.70% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Robert W. Baird reissued a "neutral" rating and set a $14.00 price objective (down previously from $28.00) on shares of Oscar Health in a report on Friday, July 25th. Piper Sandler cut their price objective on Oscar Health from $14.00 to $13.00 and set a "neutral" rating for the company in a report on Thursday, August 14th. Wall Street Zen lowered Oscar Health from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Baird R W lowered Oscar Health from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. Finally, Barclays cut their price objective 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 company. According to data from MarketBeat, Oscar Health has a consensus rating of "Strong Sell" and a consensus target price of $12.07.

Oscar Health Price Performance

NYSE:OSCR traded down $0.48 during mid-day trading on Tuesday, reaching $16.18. The stock had a trading volume of 4,972,373 shares, compared to its average volume of 13,526,661. The firm has a 50 day moving average price of $15.95 and a two-hundred day moving average price of $14.92. The stock has a market capitalization of $4.18 billion, a P/E ratio of -19.93 and a beta of 1.87. Oscar Health, Inc. has a one year low of $11.20 and a one year high of $23.79. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.86 and a current ratio of 0.86.

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

Oscar Health Profile

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.