Royal Bank of Canada Acquires 119,714 Shares of Oscar Health, Inc. $OSCR

Key Points

• Royal Bank of Canada increased its Oscar Health stake by 73.4% in the first quarter, purchasing 119,714 additional shares and bringing its holdings to 282,904 shares worth approximately $3.25 million.
• Oscar Health reported quarterly earnings of $1.10 per share, beating estimates of $0.40, while revenue rose 70.4% year over year to $4.88 billion. Shares opened at $32.68, up 6.2%, near their 52-week high.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $26.22; meanwhile, insiders have sold 3.56 million shares worth about $102.8 million over the past three months.

Royal Bank of Canada lifted its stake in shares of Oscar Health, Inc. (NYSE:OSCR - Free Report) by 73.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 282,904 shares of the company's stock after buying an additional 119,714 shares during the quarter. Royal Bank of Canada owned about 0.09% of Oscar Health worth $3,246,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Jones Financial Companies Lllp boosted its stake in Oscar Health by 7,473.3% during the first quarter. Jones Financial Companies Lllp now owns 2,272 shares of the company's stock worth $30,000 after acquiring an additional 2,242 shares in the last quarter. Strs Ohio bought a new stake in Oscar Health in the first quarter valued at $30,000. Fifth Third Bancorp increased its stake in Oscar Health by 148.7% in the fourth quarter. Fifth Third Bancorp now owns 2,363 shares of the company's stock valued at $34,000 after purchasing an additional 1,413 shares in the last quarter. Quarry LP raised its holdings in shares of Oscar Health by 439.8% during the third quarter. Quarry LP now owns 1,803 shares of the company's stock valued at $34,000 after purchasing an additional 1,469 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Oscar Health during the first quarter valued at about $49,000. Institutional investors own 75.70% of the company's stock.

Oscar Health Stock Up 6.2%

Shares of NYSE OSCR opened at $32.68 on Friday. The stock has a market capitalization of $10.09 billion, a P/E ratio of 23.34, a P/E/G ratio of 0.67 and a beta of 2.36. The company has a 50-day moving average price of $29.65 and a 200-day moving average price of $20.85. Oscar Health, Inc. has a 1 year low of $10.69 and a 1 year high of $33.27. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 1.11.

Oscar Health (NYSE:OSCR - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $1.10 EPS for the quarter, topping 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 company had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $4.73 billion. During the same period in the previous year, the firm posted ($0.89) earnings per share. The firm's revenue for the quarter was up 70.4% on a year-over-year basis. On average, equities research analysts forecast that Oscar Health, Inc. will post 1.54 EPS for the current fiscal year.

Insider Buying and Selling at Oscar Health

In other Oscar Health news, insider Janet Liang sold 12,475 shares of the business's stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $21.94, for a total transaction of $273,701.50. Following the completion of the sale, the insider directly owned 259,057 shares of the company's stock, valued at approximately $5,683,710.58. The trade was a 4.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible 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, CEO Mark T. Bertolini sold 624,244 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $28.48, for a total value of $17,778,469.12. Following the completion of the sale, the chief executive officer directly owned 7,751,570 shares of the company's stock, valued at approximately $220,764,713.60. This trade represents a 7.45% decrease in their ownership of the stock. 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. In the last three months, insiders have sold 3,562,466 shares of company stock worth $102,829,815. 22.64% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on OSCR shares. Weiss Ratings upgraded Oscar Health from a "sell (d+)" rating to a "hold (c+)" rating in a research note on Tuesday. Wells Fargo & Company upped their price target on Oscar Health from $20.00 to $27.00 and gave the stock an "equal weight" rating in a research note on Thursday. Jefferies Financial Group upgraded Oscar Health from an "underperform" rating to a "hold" rating and increased their price target for the stock from $10.00 to $16.00 in a report on Monday, April 20th. Piper Sandler reissued an "overweight" rating and issued a $36.00 price objective on shares of Oscar Health in a research note on Tuesday, July 28th. Finally, The Goldman Sachs Group restated a "neutral" rating and set a $30.00 price objective on shares of Oscar Health in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $26.22.

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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