Engineers Gate Manager LP Has $8.80 Million Stake in Oscar Health, Inc. $OSCR

Engineers Gate Manager LP lessened its stake in Oscar Health, Inc. (NYSE:OSCR) by 58.3% during the second quarter, HoldingsChannel reports. The institutional investor owned 308,632 shares of the company’s stock after selling 431,137 shares during the period. Engineers Gate Manager LP’s holdings in Oscar Health were worth $8,802,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Geode Capital Management LLC raised its holdings in Oscar Health by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 4,798,313 shares of the company’s stock worth $68,964,000 after purchasing an additional 116,430 shares during the last quarter. BIT Capital GmbH boosted its holdings in shares of Oscar Health by 545.0% during the 4th quarter. BIT Capital GmbH now owns 6,186,267 shares of the company’s stock worth $88,897,000 after buying an additional 5,227,152 shares in the last quarter. Simplify Asset Management Inc. bought a new position in Oscar Health during the fourth quarter worth $2,948,000. Fortis Group Advisors LLC grew its stake in shares of Oscar Health by 82.9% in the 4th quarter. Fortis Group Advisors LLC now owns 189,857 shares of the company’s stock valued at $2,724,000 after buying an additional 86,035 shares during the period. Finally, Convergence Investment Partners LLC acquired a new stake in Oscar Health in the first quarter valued at approximately $1,208,000. Institutional investors and hedge funds own 75.70% of the company’s stock.

Oscar Health Price Performance

Oscar Health stock opened at $32.53 on Friday. Oscar Health, Inc. has a 52 week low of $10.69 and a 52 week high of $33.55. The company’s 50 day moving average price is $30.58 and its two-hundred day moving average price is $23.27. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The stock has a market cap of $10.04 billion, a P/E ratio of 23.24, a P/E/G ratio of 0.65 and a beta of 2.37.

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

Insiders Place Their Bets

In other Oscar Health news, CFO Richard Blackley sold 28,869 shares of the company’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $31.45, for a total value of $907,930.05. Following the completion of the transaction, the chief financial officer owned 1,046,108 shares in the company, valued at $32,900,096.60. This represents a 2.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 Bertolini sold 624,244 shares of the business’s stock in a transaction dated 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 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 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. Over the last quarter, insiders have sold 4,322,257 shares of company stock valued at $126,818,346. Insiders own 22.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Robert W. Baird set a $27.00 price objective on shares of Oscar Health in a research note on Friday, August 7th. Wells Fargo & Company boosted their target price on shares of Oscar Health from $20.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 13th. UBS Group upped their target price on shares of Oscar Health from $20.00 to $26.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Wall Street Zen raised shares of Oscar Health from a “buy” rating to a “strong-buy” rating in a research report on Sunday, June 14th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $30.00 price target on shares of Oscar Health in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, Oscar Health currently has an average rating of “Hold” and an average price target of $26.22.

Oscar Health Profile

Oscar Health, Inc is a technology-focused health insurance company that offers health plans and related services to individuals, families and small businesses in the United States. The company’s primary business is providing Individual and Family plans through the Affordable Care Act marketplaces, along with health insurance options for small-group employers in select markets.

Oscar combines insurance coverage with digital tools designed to help members manage their care. Its offerings include online and mobile enrollment, virtual care, provider search and navigation services, claims and benefits information, and access to care teams.