Rhumbline Advisers Increases Stake in Oscar Health, Inc. (NYSE:OSCR)

Rhumbline Advisers increased its position in shares of Oscar Health, Inc. (NYSE:OSCR) by 8.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 270,341 shares of the company’s stock after buying an additional 21,717 shares during the period. Rhumbline Advisers owned about 0.11% of Oscar Health worth $4,277,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Avalon Trust Co purchased a new position in Oscar Health in the first quarter valued at approximately $69,000. Prevail Innovative Wealth Advisors LLC acquired a new stake in shares of Oscar Health in the 4th quarter valued at about $92,000. Focus Financial Network Inc. ADV acquired a new position in Oscar Health during the fourth quarter worth approximately $152,000. Farallon Capital Management LLC purchased a new stake in Oscar Health in the first quarter valued at approximately $164,000. Finally, Victory Capital Management Inc. boosted its holdings in shares of Oscar Health by 37.7% in the fourth quarter. Victory Capital Management Inc. now owns 18,852 shares of the company’s stock valued at $172,000 after acquiring an additional 5,159 shares during the period. Institutional investors and hedge funds own 75.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Piper Sandler reiterated an “overweight” rating and set a $28.00 price target on shares of Oscar Health in a research note on Tuesday, September 10th. Baird R W upgraded Oscar Health to a “strong-buy” rating in a research note on Thursday, May 30th. Bank of America reaffirmed a “neutral” rating and set a $21.00 price target (down from $25.00) on shares of Oscar Health in a report on Thursday, May 30th. Robert W. Baird started coverage on shares of Oscar Health in a research report on Thursday, May 30th. They issued an “outperform” rating and a $28.00 price objective on the stock. Finally, Wells Fargo & Company upped their price objective on shares of Oscar Health from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 12th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $24.17.

Insider Transactions at Oscar Health

In related news, EVP Alessandrea C. Quane sold 16,793 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $17.06, for a total value of $286,488.58. Following the completion of the transaction, the executive vice president now directly owns 392,607 shares in the company, valued at $6,697,875.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Oscar Health news, EVP Alessandrea C. Quane sold 16,793 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $17.06, for a total transaction of $286,488.58. Following the completion of the sale, the executive vice president now directly owns 392,607 shares in the company, valued at $6,697,875.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Richard Scott Blackley sold 29,957 shares of Oscar Health stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $17.06, for a total transaction of $511,066.42. Following the transaction, the chief financial officer now directly owns 853,875 shares in the company, valued at $14,567,107.50. The disclosure for this sale can be found here. Insiders sold a total of 169,569 shares of company stock worth $3,007,069 over the last ninety days. 25.11% of the stock is currently owned by corporate insiders.

Oscar Health Price Performance

Oscar Health stock opened at $21.92 on Tuesday. Oscar Health, Inc. has a 52 week low of $4.72 and a 52 week high of $23.44. The firm’s 50-day simple moving average is $17.39 and its 200 day simple moving average is $17.38. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.26.

Oscar Health (NYSE:OSCR) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.04. Oscar Health had a net margin of 0.25% and a return on equity of 1.86%. The business had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same period last year, the company posted ($0.07) EPS. The company’s revenue was up 44.6% on a year-over-year basis. On average, equities analysts predict that Oscar Health, Inc. will post 0.01 EPS for the current year.

About Oscar Health

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.