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

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

Several other institutional investors also recently made changes to their positions in the stock. Thrive Capital Management LLC boosted its position in Oscar Health by 33.4% during the 4th quarter. Thrive Capital Management LLC now owns 6,343,617 shares of the company’s stock valued at $85,258,000 after purchasing an additional 1,588,395 shares during the period. Baird Financial Group Inc. bought a new stake in Oscar Health in the first quarter valued at $159,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Oscar Health by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 215,650 shares of the company’s stock valued at $2,827,000 after buying an additional 8,879 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Oscar Health by 7,473.3% during the first quarter. Jones Financial Companies Lllp now owns 2,272 shares of the company’s stock valued at $30,000 after acquiring an additional 2,242 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Oscar Health by 39.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 470,590 shares of the company’s stock valued at $6,169,000 after acquiring an additional 132,149 shares during the period. 75.70% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on OSCR. The Goldman Sachs Group reiterated a “neutral” rating and issued a $30.00 price objective on shares of Oscar Health in a research report on Tuesday. Zacks Research upgraded Oscar Health from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. Wall Street Zen raised Oscar Health from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 14th. Robert W. Baird set a $27.00 price target on Oscar Health in a research note on Friday. Finally, Wolfe Research initiated coverage on shares of Oscar Health in a research note on Tuesday, May 5th. They set a “peer perform” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Oscar Health has an average rating of “Hold” and an average target price of $25.44.

Oscar Health Stock Up 0.7%

NYSE OSCR opened at $27.87 on Wednesday. The company has a market capitalization 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 12 month low of $10.69 and a 12 month high of $33.10. The company’s 50 day simple moving average is $29.16 and its 200 day simple moving average is $20.57. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.11 and a quick ratio of 1.11.

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

Insider Buying and Selling

In related news, insider Janet Liang sold 12,475 shares of Oscar Health stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $21.94, for a total value of $273,701.50. Following the transaction, the insider owned 259,057 shares of the company’s stock, valued at approximately $5,683,710.58. This trade represents a 4.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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, CEO Mark T. Bertolini sold 624,244 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $28.48, for a total transaction of $17,778,469.12. Following the sale, the chief executive officer directly owned 7,751,570 shares of the company’s stock, valued at $220,764,713.60. This 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. Over the last quarter, insiders have sold 3,662,466 shares of company stock worth $105,145,815. Company insiders own 22.64% of the company’s stock.

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.