Wedge Capital Management L L P NC Takes Position in Oscar Health, Inc. $OSCR

Wedge Capital Management L L P NC acquired a new position in shares of Oscar Health, Inc. (NYSE:OSCR) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,152,002 shares of the company’s stock, valued at approximately $32,855,000. Wedge Capital Management L L P NC owned approximately 0.38% of Oscar Health at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Oscar Health by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 20,701,250 shares of the company’s stock valued at $297,477,000 after acquiring an additional 540,851 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in Oscar Health by 11.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 9,217,816 shares of the company’s stock valued at $132,461,000 after purchasing an additional 910,320 shares in the last quarter. Morgan Stanley increased its stake in Oscar Health by 42.8% in the 4th quarter. Morgan Stanley now owns 6,814,046 shares of the company’s stock valued at $97,918,000 after purchasing an additional 2,043,758 shares in the last quarter. Thrive Capital Management LLC raised its holdings in Oscar Health by 33.4% during the fourth quarter. Thrive Capital Management LLC now owns 6,343,617 shares of the company’s stock worth $85,258,000 after purchasing an additional 1,588,395 shares during the last quarter. Finally, BIT Capital GmbH raised its holdings in Oscar Health by 545.0% during the fourth quarter. BIT Capital GmbH now owns 6,186,267 shares of the company’s stock worth $88,897,000 after purchasing an additional 5,227,152 shares during the last quarter. 75.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Jefferies Financial Group raised Oscar Health from an “underperform” rating to a “hold” rating and upped their target price for the company from $10.00 to $16.00 in a report on Monday, April 20th. Wolfe Research started coverage on Oscar Health in a research note on Tuesday, May 5th. They set a “peer perform” rating for the company. Wall Street Zen upgraded shares of Oscar Health from a “buy” rating to a “strong-buy” rating in a research report on Sunday, June 14th. UBS Group increased their price objective on shares of Oscar Health from $20.00 to $26.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Finally, Zacks Research upgraded shares of Oscar Health from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Oscar Health currently has an average rating of “Hold” and an average price target of $25.44.

Oscar Health Stock Up 0.7%

OSCR opened at $27.87 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.26. The firm has a market cap of $8.40 billion, a P/E ratio of 19.91, a PEG ratio of 0.66 and a beta of 2.36. Oscar Health, Inc. has a 52 week low of $10.69 and a 52 week high of $33.10. The business’s fifty day simple moving average is $29.16 and its 200 day simple moving average is $20.57.

Oscar Health (NYSE:OSCR) last announced its earnings results on Thursday, August 6th. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.70. The firm had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $4.73 billion. Oscar Health had a net margin of 3.60% and a return on equity of 44.96%. The firm’s revenue for the quarter was up 70.4% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.89) EPS. As a group, equities research analysts anticipate that Oscar Health, Inc. will post 1.33 EPS for the current fiscal year.

Insider Activity

In related news, CFO Richard Scott Blackley sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $23.16, for a total transaction of $2,316,000.00. Following the transaction, the chief financial officer owned 1,216,660 shares of the company’s stock, valued at approximately $28,177,845.60. This represents a 7.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mark T. Bertolini sold 624,244 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $28.48, for a total value of $17,778,469.12. Following the transaction, the chief executive officer directly owned 7,751,570 shares in the company, valued at $220,764,713.60. This trade represents a 7.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. In the last three months, insiders sold 3,662,466 shares of company stock worth $105,145,815. Corporate insiders own 22.64% of the company’s stock.

About Oscar Health

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.