JPMorgan Chase & Co. Increases Holdings in Oscar Health, Inc. (NYSE:OSCR)

JPMorgan Chase & Co. increased its stake in shares of Oscar Health, Inc. (NYSE:OSCR) by 68.5% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 2,309,150 shares of the company’s stock after purchasing an additional 938,742 shares during the period. JPMorgan Chase & Co. owned 0.93% of Oscar Health worth $48,977,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Neo Ivy Capital Management bought a new position in Oscar Health in the 3rd quarter valued at $600,000. Geode Capital Management LLC boosted its stake in Oscar Health by 11.7% during the third quarter. Geode Capital Management LLC now owns 4,339,640 shares of the company’s stock valued at $92,062,000 after buying an additional 455,205 shares during the period. Barclays PLC grew its position in Oscar Health by 217.5% during the third quarter. Barclays PLC now owns 325,818 shares of the company’s stock worth $6,911,000 after buying an additional 223,189 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Oscar Health during the third quarter worth about $2,764,000. Finally, Soros Fund Management LLC purchased a new stake in shares of Oscar Health in the 3rd quarter valued at about $12,726,000. Institutional investors own 75.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on OSCR shares. 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. Jefferies Financial Group began coverage on shares of Oscar Health in a research report on Tuesday, December 10th. They set an “underperform” rating and a $12.00 price objective on the stock. UBS Group started coverage on Oscar Health in a research note on Monday, October 7th. They issued a “neutral” rating and a $23.00 target price on the stock. Finally, Bank of America lowered Oscar Health from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $21.00 to $13.50 in a research note on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Oscar Health currently has an average rating of “Hold” and a consensus price target of $21.56.

Oscar Health Trading Up 5.9 %

NYSE OSCR opened at $14.35 on Friday. The stock has a 50-day moving average of $15.28 and a 200-day moving average of $17.01. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.26. Oscar Health, Inc. has a 1-year low of $8.44 and a 1-year high of $23.79. The firm has a market cap of $3.55 billion, a PE ratio of -239.13 and a beta of 1.63.

Oscar Health (NYSE:OSCR) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $2.33 billion. During the same quarter in the previous year, the firm posted ($0.29) EPS. The business’s revenue for the quarter was up 68.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Oscar Health, Inc. will post -0.01 EPS for the current year.

Insiders Place Their Bets

In other Oscar Health news, Director Elbert O. Jr. Robinson sold 25,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $17.05, for a total value of $426,250.00. Following the completion of the sale, the director now owns 89,512 shares in the company, valued at approximately $1,526,179.60. This trade represents a 21.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Steven Wolin sold 19,580 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $18.08, for a total value of $354,006.40. Following the transaction, the chief operating officer now directly owns 102,598 shares in the company, valued at $1,854,971.84. This trade represents a 16.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have bought 1,055,478 shares of company stock valued at $14,432,852 and have sold 103,610 shares valued at $1,847,519. Insiders own 25.11% of the company’s stock.

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.