Wellington Management Group LLP Increases Stake in Oscar Health, Inc. $OSCR

Wellington Management Group LLP increased its holdings in Oscar Health, Inc. (NYSE:OSCR) by 65.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 603,675 shares of the company’s stock after purchasing an additional 239,109 shares during the quarter. Wellington Management Group LLP’s holdings in Oscar Health were worth $17,217,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Strs Ohio bought a new position in shares of Oscar Health during the first quarter valued at about $30,000. Jones Financial Companies Lllp lifted its stake in shares of Oscar Health by 7,473.3% in the 1st 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 last quarter. Quarry LP lifted its stake in shares of Oscar Health by 439.8% in the 3rd quarter. Quarry LP now owns 1,803 shares of the company’s stock valued at $34,000 after acquiring an additional 1,469 shares during the last quarter. Fifth Third Bancorp boosted its holdings in Oscar Health by 148.7% during the 4th quarter. Fifth Third Bancorp now owns 2,363 shares of the company’s stock valued at $34,000 after acquiring an additional 1,413 shares during the period. Finally, CoreCap Advisors LLC boosted its holdings in Oscar Health by 526.3% during the 2nd quarter. CoreCap Advisors LLC now owns 1,190 shares of the company’s stock valued at $34,000 after acquiring an additional 1,000 shares during the period. 75.70% of the stock is owned by institutional investors.

Oscar Health Stock Down 0.2%

Shares of NYSE:OSCR opened at $32.20 on Monday. The stock’s 50-day moving average is $30.43 and its 200 day moving average is $22.74. The company has a market cap of $9.94 billion, a PE ratio of 23.00, a P/E/G ratio of 0.66 and a beta of 2.37. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 1.09. Oscar Health, Inc. has a 1 year low of $10.69 and a 1 year high of $33.55.

Oscar Health (NYSE:OSCR) last released its quarterly earnings data on Thursday, August 6th. The company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.70. The business had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $4.73 billion. Oscar Health had a return on equity of 38.45% and a net margin of 3.60%.The business’s revenue was up 70.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.89) EPS. Sell-side analysts anticipate that Oscar Health, Inc. will post 1.54 EPS for the current year.

Insider Activity at Oscar Health

In other Oscar Health news, CFO Richard Blackley sold 18,750 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $31.74, for a total transaction of $595,125.00. Following the transaction, the chief financial officer directly owned 56,250 shares of the company’s stock, valued at approximately $1,785,375. The trade was a 25.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark T. Bertolini sold 624,244 shares of the company’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $28.48, for a total transaction of $17,778,469.12. Following the completion of the transaction, the chief executive officer owned 7,751,570 shares of the company’s stock, valued at $220,764,713.60. This trade represents a 7.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Insiders sold a total of 4,241,556 shares of company stock worth $124,280,299 over the last quarter. 22.64% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $36.00 price target on shares of Oscar Health in a research note on Tuesday, July 28th. Barclays increased their price objective on Oscar Health from $35.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $30.00 target price on shares of Oscar Health in a research note on Tuesday, August 11th. Wells Fargo & Company upped their price target on shares of Oscar Health from $20.00 to $27.00 and gave the company an “equal weight” rating in a report on Thursday, August 13th. Finally, Weiss Ratings raised shares of Oscar Health from a “sell (d+)” rating to a “hold (c+)” rating in a research report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, Oscar Health currently has a consensus rating of “Hold” and an average target price of $26.22.

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.