Geode Capital Management LLC Purchases 455,205 Shares of Oscar Health, Inc. (NYSE:OSCR)

Geode Capital Management LLC lifted its holdings in shares of Oscar Health, Inc. (NYSE:OSCR) by 11.7% in the third quarter, Holdings Channel.com reports. The fund owned 4,339,640 shares of the company’s stock after purchasing an additional 455,205 shares during the quarter. Geode Capital Management LLC’s holdings in Oscar Health were worth $92,062,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in OSCR. KBC Group NV boosted its holdings in Oscar Health by 41.2% during the third quarter. KBC Group NV now owns 4,552 shares of the company’s stock valued at $97,000 after purchasing an additional 1,328 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in Oscar Health in the second quarter valued at $78,000. Quest Partners LLC bought a new stake in Oscar Health in the second quarter valued at $93,000. Optimum Investment Advisors acquired a new position in Oscar Health during the third quarter worth $142,000. Finally, Amalgamated Bank lifted its holdings in shares of Oscar Health by 27.7% during the second quarter. Amalgamated Bank now owns 6,727 shares of the company’s stock valued at $106,000 after acquiring an additional 1,458 shares during the period. 75.70% of the stock is currently owned by institutional investors and hedge funds.

Oscar Health Trading Up 0.9 %

Shares of NYSE OSCR opened at $13.50 on Friday. Oscar Health, Inc. has a fifty-two week low of $7.80 and a fifty-two week high of $23.79. The firm has a market capitalization of $3.34 billion, a P/E ratio of -224.96 and a beta of 1.63. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.73 and a quick ratio of 0.73. The company’s 50 day simple moving average is $15.97 and its 200 day simple moving average is $17.45.

Oscar Health (NYSE:OSCR) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.02). Oscar Health had a net margin of 0.35% and a return on equity of 2.79%. The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.33 billion. During the same period last year, the company earned ($0.29) EPS. The business’s revenue for the quarter was up 68.3% compared to the same quarter last year. On average, analysts predict that Oscar Health, Inc. will post -0.01 EPS for the current year.

Insiders Place Their Bets

In other news, Vice Chairman Joshua Kushner purchased 276,040 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was bought at an average price of $13.58 per share, with a total value of $3,748,623.20. Following the acquisition, the insider now directly owns 5,031,262 shares of the company’s stock, valued at approximately $68,324,537.96. This represents a 5.80 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Steven Wolin sold 19,580 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $18.08, for a total transaction of $354,006.40. Following the completion of the sale, the chief operating officer now owns 102,598 shares of the company’s stock, valued at approximately $1,854,971.84. This represents a 16.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 1,055,478 shares of company stock worth $14,432,852 and have sold 103,610 shares worth $1,847,519. Company insiders own 25.11% of the company’s stock.

Analyst Ratings Changes

OSCR has been the topic of several analyst reports. Bank of America lowered shares of Oscar Health from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $21.00 to $13.50 in a report on Wednesday, November 6th. UBS Group started coverage on shares of Oscar Health in a research report on Monday, October 7th. They set a “neutral” rating and a $23.00 target price on the stock. Jefferies Financial Group initiated coverage on shares of Oscar Health in a research note on Tuesday, December 10th. They set an “underperform” rating and a $12.00 price target on the stock. Finally, Piper Sandler restated an “overweight” rating and issued a $28.00 price objective on shares of Oscar Health in a research report on Tuesday, September 10th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $21.56.

Oscar Health Company 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.