Westfield Capital Management Co. LP Invests $27.45 Million in Oscar Health, Inc. (NYSE:OSCR)

Westfield Capital Management Co. LP bought a new stake in shares of Oscar Health, Inc. (NYSE:OSCR) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 1,294,280 shares of the company’s stock, valued at approximately $27,452,000. Westfield Capital Management Co. LP owned 0.54% of Oscar Health as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of OSCR. KBC Group NV boosted its position in shares of Oscar Health by 41.2% during the 3rd quarter. KBC Group NV now owns 4,552 shares of the company’s stock worth $97,000 after purchasing an additional 1,328 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in Oscar Health during the 2nd quarter worth approximately $78,000. Quest Partners LLC bought a new position in Oscar Health in the second quarter worth approximately $93,000. Optimum Investment Advisors bought a new position in Oscar Health in the third quarter worth approximately $142,000. Finally, Amalgamated Bank grew its stake in Oscar Health by 27.7% in the second quarter. Amalgamated Bank now owns 6,727 shares of the company’s stock valued at $106,000 after acquiring an additional 1,458 shares during the period. 75.70% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Thrive Partners Vii Growth Gp, bought 420,819 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were acquired at an average cost of $13.68 per share, with a total value of $5,756,803.92. Following the completion of the purchase, the director now directly owns 5,452,081 shares of the company’s stock, valued at $74,584,468.08. This trade represents a 8.36 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Elbert O. Jr. Robinson sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $17.05, for a total transaction of $426,250.00. Following the completion of the transaction, the director now directly owns 89,512 shares of the company’s stock, valued at approximately $1,526,179.60. This represents a 21.83 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders bought 1,055,478 shares of company stock worth $14,432,852 and sold 194,569 shares worth $3,433,319. Company insiders own 25.11% of the company’s stock.

Wall Street Analyst Weigh In

OSCR has been the subject of several recent research reports. Piper Sandler reissued an “overweight” rating and set a $28.00 target price on shares of Oscar Health in a research report on Tuesday, September 10th. Bank of America lowered Oscar Health from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $21.00 to $13.50 in a report on Wednesday, November 6th. Finally, UBS Group assumed coverage on Oscar Health in a research report on Monday, October 7th. They issued a “neutral” rating and a $23.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.93.

Oscar Health Price Performance

Shares of NYSE OSCR opened at $15.98 on Monday. Oscar Health, Inc. has a fifty-two week low of $7.29 and a fifty-two week high of $23.79. The stock has a fifty day moving average of $17.90 and a 200-day moving average of $18.18. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.26.

Oscar Health (NYSE:OSCR) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.02). Oscar Health had a net margin of 0.35% and a return on equity of 2.79%. The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.33 billion. During the same quarter last year, the business posted ($0.29) earnings per share. Oscar Health’s revenue was up 68.3% compared to the same quarter last year. Sell-side analysts forecast that Oscar Health, Inc. will post -0.01 EPS for the current fiscal year.

Oscar Health Company Profile

Oscar Health, Inc operates as a health insurance in the United States. The company offers health plans in individual and small group markets, as well as +Oscar, a technology driven platform that help providers and payors directly enable their shift to value-based care. It also provides reinsurance products.