Simplify Asset Management Inc. Purchases New Holdings in Oscar Health, Inc. $OSCR

Key Points

• Simplify Asset Management opened a new position in Oscar Health during the fourth quarter, buying 205,131 shares worth about $2.95 million.
• Oscar Health insiders showed mixed activity: CEO Mark T. Bertolini bought 1 million shares in April, while CFO Richard Scott Blackley sold 100,000 shares in May under a pre-arranged trading plan.
• The company reported better-than-expected quarterly earnings of $2.07 per share, though revenue of $4.65 billion came in below estimates; analysts currently have a Hold consensus with an average price target of $18.22.

Simplify Asset Management Inc. purchased a new stake in Oscar Health, Inc. (NYSE:OSCR - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 205,131 shares of the company's stock, valued at approximately $2,948,000. Simplify Asset Management Inc. owned approximately 0.08% of Oscar Health as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Q Fund Management Hong Kong Ltd purchased a new stake in shares of Oscar Health in the 3rd quarter valued at approximately $5,940,000. Vanguard Group Inc. lifted its position in shares of Oscar Health by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 20,701,250 shares of the company's stock valued at $297,477,000 after acquiring an additional 540,851 shares in the last quarter. State of Michigan Retirement System purchased a new stake in shares of Oscar Health in the 3rd quarter valued at approximately $27,448,000. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in shares of Oscar Health by 1,097.8% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 237,882 shares of the company's stock valued at $3,418,000 after acquiring an additional 218,022 shares in the last quarter. Finally, Farallon Capital Management LLC lifted its position in shares of Oscar Health by 146.5% in the 3rd quarter. Farallon Capital Management LLC now owns 3,639,000 shares of the company's stock valued at $68,886,000 after acquiring an additional 2,163,000 shares in the last quarter. Hedge funds and other institutional investors own 75.70% of the company's stock.

Insider Buying and Selling at Oscar Health

In other Oscar Health news, CEO Mark T. Bertolini purchased 1,000,000 shares of the company's stock in a transaction dated Monday, April 6th. The shares were bought at an average price of $11.92 per share, for a total transaction of $11,920,000.00. Following the purchase, the chief executive officer directly owned 10,196,876 shares in the company, valued at $121,546,761.92. This trade represents a 10.87% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Richard Scott Blackley sold 100,000 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $23.16, for a total transaction of $2,316,000.00. Following the transaction, the chief financial officer owned 1,216,660 shares in the company, valued at approximately $28,177,845.60. This trade represents a 7.59% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 24.39% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Wall Street Zen upgraded shares of Oscar Health from a "hold" rating to a "strong-buy" rating in a research report on Saturday, May 9th. Zacks Research upgraded shares of Oscar Health from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 7th. Wolfe Research initiated coverage on shares of Oscar Health in a research note on Tuesday, May 5th. They issued a "peer perform" rating on the stock. Raymond James Financial upgraded shares of Oscar Health from a "market perform" rating to an "outperform" rating and set a $18.00 price objective on the stock in a research note on Thursday, February 12th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Oscar Health in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Oscar Health has a consensus rating of "Hold" and an average price target of $18.22.

Oscar Health Stock Up 0.1%

Oscar Health stock opened at $22.67 on Monday. The firm has a market cap of $6.83 billion, a PE ratio of -38.42, a P/E/G ratio of 1.58 and a beta of 2.34. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.11 and a current ratio of 1.11. The firm's 50 day moving average price is $16.49 and its two-hundred day moving average price is $15.58. Oscar Health, Inc. has a twelve month low of $10.69 and a twelve month high of $25.58.

Oscar Health (NYSE:OSCR - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.96. The firm had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.90 billion. Oscar Health had a negative net margin of 0.30% and a negative return on equity of 3.26%. The company's revenue for the quarter was up 52.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.92 EPS. On average, research analysts predict that Oscar Health, Inc. will post 0.47 EPS for the current fiscal year.

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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