Coatue Management LLC Cuts Position in Oscar Health, Inc. (NYSE:OSCR)

Coatue Management LLC trimmed its position in shares of Oscar Health, Inc. (NYSE:OSCR) by 0.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,309,585 shares of the company’s stock after selling 16,028 shares during the period. Coatue Management LLC’s holdings in Oscar Health were worth $135,656,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in OSCR. Thrive Capital Management LLC purchased a new stake in shares of Oscar Health during the first quarter worth approximately $883,252,000. General Catalyst Group Management LLC purchased a new stake in shares of Oscar Health during the first quarter worth approximately $388,819,000. Founders Fund IV Management LLC purchased a new stake in shares of Oscar Health during the first quarter worth approximately $276,186,000. Formation8 GP LLC purchased a new stake in shares of Oscar Health during the first quarter worth approximately $197,719,000. Finally, Founders Fund V Management LLC purchased a new stake in shares of Oscar Health during the first quarter worth approximately $154,169,000. Hedge funds and other institutional investors own 69.17% of the company’s stock.

In other Oscar Health news, COO Meghan V. Joyce sold 24,014 shares of the firm’s stock in a transaction on Wednesday, September 1st. The stock was sold at an average price of $17.17, for a total value of $412,320.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dennis Weaver sold 3,027 shares of the firm’s stock in a transaction on Wednesday, September 1st. The shares were sold at an average price of $17.21, for a total value of $52,094.67. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 4,395,078 shares of company stock valued at $67,705,733.

Shares of OSCR stock traded up $0.78 during trading hours on Thursday, hitting $15.28. The stock had a trading volume of 15,466 shares, compared to its average volume of 1,208,079. Oscar Health, Inc. has a twelve month low of $12.06 and a twelve month high of $37.00. The stock’s 50 day moving average is $15.80 and its 200 day moving average is $20.30.

Oscar Health (NYSE:OSCR) last posted its quarterly earnings data on Thursday, August 12th. The company reported ($0.35) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.47) by $0.12. The firm had revenue of $529.28 million during the quarter. Research analysts predict that Oscar Health, Inc. will post -2.75 EPS for the current fiscal year.

Several brokerages have commented on OSCR. Wells Fargo & Company dropped their price target on shares of Oscar Health from $37.00 to $30.00 and set an “overweight” rating on the stock in a research note on Friday, August 13th. Morgan Stanley dropped their price target on shares of Oscar Health from $44.00 to $26.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 31st. Credit Suisse Group dropped their price target on shares of Oscar Health from $34.00 to $26.00 and set an “outperform” rating on the stock in a research note on Monday, September 20th. Cowen began coverage on shares of Oscar Health in a research note on Thursday, September 9th. They issued a “market perform” rating and a $15.00 price target on the stock. Finally, Zacks Investment Research upgraded shares of Oscar Health from a “sell” rating to a “hold” rating in a research note on Thursday, July 15th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Oscar Health currently has an average rating of “Buy” and a consensus target price of $30.00.

Oscar Health Company Profile

Oscar Health, Inc provides health insurance products and services to individuals, families, and businesses in the United States. The company was formerly known as Mulberry Health Inc and changed its name to Oscar Health, Inc in January 2021. Oscar Health, Inc was founded in 2012 and is headquartered in New York, New York.

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Institutional Ownership by Quarter for Oscar Health (NYSE:OSCR)

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