105,336 Shares in Oscar Health, Inc. $OSCR Acquired by Convergence Investment Partners LLC

Convergence Investment Partners LLC acquired a new position in shares of Oscar Health, Inc. (NYSE:OSCR) in the 1st quarter, HoldingsChannel reports. The fund acquired 105,336 shares of the company’s stock, valued at approximately $1,208,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of OSCR. Dimensional Fund Advisors LP increased its holdings in shares of Oscar Health by 22.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,192,777 shares of the company’s stock worth $48,078,000 after purchasing an additional 759,837 shares during the period. SEB Asset Management AB bought a new stake in shares of Oscar Health in the first quarter valued at about $5,776,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Oscar Health in the first quarter valued at about $344,000. Bank of New York Mellon Corp grew its position in Oscar Health by 1.2% during the first quarter. Bank of New York Mellon Corp now owns 556,059 shares of the company’s stock worth $6,378,000 after buying an additional 6,780 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Oscar Health during the first quarter worth about $49,000. 75.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on OSCR shares. Barclays raised Oscar Health from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $30.00 to $35.00 in a report on Wednesday, June 10th. Weiss Ratings raised Oscar Health from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, July 10th. Jefferies Financial Group upgraded Oscar Health from an “underperform” rating to a “hold” rating and boosted their price objective for the company from $10.00 to $16.00 in a research report on Monday, April 20th. Zacks Research raised shares of Oscar Health from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. Finally, Wall Street Zen upgraded shares of Oscar Health from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 14th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Oscar Health currently has a consensus rating of “Hold” and an average target price of $20.78.

Oscar Health Price Performance

OSCR opened at $30.78 on Wednesday. Oscar Health, Inc. has a one year low of $10.69 and a one year high of $33.10. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.11 and a quick ratio of 1.11. The company’s 50 day simple moving average is $27.21 and its 200-day simple moving average is $19.20. The stock has a market capitalization of $9.28 billion, a P/E ratio of -52.17, a price-to-earnings-growth ratio of 1.66 and a beta of 2.34.

Oscar Health (NYSE:OSCR) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $2.07 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.96. Oscar Health had a negative net margin of 0.30% and a negative return on equity of 3.26%. The firm had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter in the previous year, the company posted $0.92 EPS. Oscar Health’s revenue was up 52.6% on a year-over-year basis. Sell-side analysts anticipate that Oscar Health, Inc. will post 0.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Janet Liang sold 12,475 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $21.94, for a total transaction of $273,701.50. Following the completion of the sale, the insider owned 259,057 shares in the company, valued at $5,683,710.58. The trade was a 4.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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. Also, CFO Richard Scott Blackley sold 31,683 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $21.94, for a total value of $695,125.02. Following the transaction, the chief financial officer directly owned 1,074,977 shares in the company, valued at $23,584,995.38. This trade represents a 2.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. 22.64% of the stock is currently owned by company insiders.

Oscar Health Profile

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.