Towle & Co. Makes New $3.19 Million Investment in Oscar Health, Inc. $OSCR

Key Points

• Towle & Co. initiated a new position in Oscar Health during the first quarter, buying 278,489 shares worth about $3.19 million.
• Oscar Health reported stronger-than-expected quarterly earnings, posting $2.07 EPS versus the $1.11 consensus, though revenue of $4.65 billion came in below estimates.
• Despite recent share gains, insider activity has been heavy on the selling side, including large sales by the CEO and CFO; analysts currently rate the stock a consensus Hold with a target price of $20.78.

Towle & Co. bought a new stake in Oscar Health, Inc. (NYSE:OSCR - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 278,489 shares of the company's stock, valued at approximately $3,194,000. Towle & Co. owned approximately 0.09% of Oscar Health as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Quarry LP lifted its position in shares of Oscar Health by 439.8% during the 3rd quarter. Quarry LP now owns 1,803 shares of the company's stock worth $34,000 after buying an additional 1,469 shares during the last quarter. Jones Financial Companies Lllp grew its position in Oscar Health by 7,473.3% in the first quarter. Jones Financial Companies Lllp now owns 2,272 shares of the company's stock valued at $30,000 after acquiring an additional 2,242 shares during the last quarter. Strs Ohio bought a new position in Oscar Health in the first quarter valued at about $30,000. Fifth Third Bancorp raised its stake in Oscar Health by 148.7% during the fourth quarter. Fifth Third Bancorp now owns 2,363 shares of the company's stock worth $34,000 after acquiring an additional 1,413 shares in the last quarter. Finally, Binnacle Investments Inc acquired a new position in Oscar Health during the second quarter worth about $75,000. Institutional investors own 75.70% of the company's stock.

Oscar Health Stock Down 1.8%

Shares of NYSE OSCR opened at $28.97 on Friday. The company has a 50 day simple moving average of $27.45 and a 200 day simple moving average of $19.41. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.11 and a quick ratio of 1.11. Oscar Health, Inc. has a 1 year low of $10.69 and a 1 year high of $33.10. The firm has a market cap of $8.74 billion, a PE ratio of -49.11, a price-to-earnings-growth ratio of 1.65 and a beta of 2.34.

Oscar Health (NYSE:OSCR - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported $2.07 earnings per share for the quarter, topping analysts' consensus estimates of $1.11 by $0.96. Oscar Health had a negative net margin of 0.30% and a negative return on equity of 3.26%. The firm had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same period in the previous year, the firm posted $0.92 EPS. The company's revenue for the quarter was up 52.6% compared to the same quarter last year. On average, research analysts forecast that Oscar Health, Inc. will post 0.59 EPS for the current year.

Analysts Set New Price Targets

OSCR has been the subject of a number of research reports. Robert W. Baird increased their target price on shares of Oscar Health from $15.00 to $19.00 and gave the stock a "neutral" rating in a report on Thursday, May 7th. Zacks Research upgraded shares of Oscar Health from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 6th. UBS Group increased their price objective on shares of Oscar Health from $15.00 to $20.00 and gave the company a "neutral" rating in a research note on Thursday, May 7th. Weiss Ratings upgraded shares of Oscar Health from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday, July 10th. Finally, Wolfe Research began coverage on shares of Oscar Health in a research note on Tuesday, May 5th. They set a "peer perform" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Oscar Health has a consensus rating of "Hold" and a consensus target price of $20.78.

Insider Buying and Selling at Oscar Health

In related news, CEO Mark T. Bertolini sold 624,244 shares of the firm's stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $28.48, for a total transaction of $17,778,469.12. Following the completion of the transaction, the chief executive officer directly owned 7,751,570 shares of the company's stock, valued at $220,764,713.60. This trade represents a 7.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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, CFO Richard Scott Blackley sold 100,000 shares of Oscar Health stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $23.16, for a total value of $2,316,000.00. Following the transaction, the chief financial officer directly owned 1,216,660 shares in the company, valued at $28,177,845.60. The trade was a 7.59% 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. Insiders have sold a total of 3,662,466 shares of company stock worth $105,145,815 in the last three months. 22.64% of the stock is currently owned by company insiders.

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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