Assenagon Asset Management S.A. Increases Stock Holdings in Oscar Health, Inc. $OSCR

Assenagon Asset Management S.A. lifted its position in shares of Oscar Health, Inc. (NYSE:OSCR) by 91.6% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,227,803 shares of the company’s stock after acquiring an additional 587,043 shares during the period. Assenagon Asset Management S.A.’s holdings in Oscar Health were worth $14,083,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Focus Partners Wealth grew its stake in Oscar Health by 1.4% in the 3rd quarter. Focus Partners Wealth now owns 57,787 shares of the company’s stock valued at $1,094,000 after acquiring an additional 824 shares during the last quarter. Equitable Holdings Inc. grew its position in shares of Oscar Health by 7.0% in the fourth quarter. Equitable Holdings Inc. now owns 12,975 shares of the company’s stock valued at $186,000 after purchasing an additional 850 shares during the last quarter. Captrust Financial Advisors increased its stake in shares of Oscar Health by 2.0% during the 4th quarter. Captrust Financial Advisors now owns 45,754 shares of the company’s stock worth $657,000 after purchasing an additional 895 shares in the last quarter. O Shaughnessy Asset Management LLC increased its stake in shares of Oscar Health by 5.6% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 17,774 shares of the company’s stock worth $255,000 after purchasing an additional 938 shares in the last quarter. Finally, Binnacle Investments Inc raised its position in shares of Oscar Health by 28.6% during the 3rd quarter. Binnacle Investments Inc now owns 4,500 shares of the company’s stock worth $85,000 after purchasing an additional 1,000 shares during the last quarter. 75.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Adam Mcananey sold 9,859 shares of the company’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 $216,306.46. Following the completion of the sale, the insider directly owned 218,096 shares in the company, valued at $4,785,026.24. This represents a 4.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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, CEO Mark T. Bertolini bought 1,000,000 shares of the business’s stock in a transaction that occurred on Monday, April 6th. The stock was purchased at an average cost of $11.92 per share, for a total transaction of $11,920,000.00. Following the completion of the transaction, the chief executive officer directly owned 10,196,876 shares in the company, valued at approximately $121,546,761.92. This trade represents a 10.87% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 1,217,160 shares of company stock valued at $34,471,090 in the last ninety days. 24.39% of the stock is owned by company insiders.

Oscar Health Stock Performance

Oscar Health stock opened at $29.77 on Friday. The firm has a market capitalization of $8.97 billion, a P/E ratio of -50.45, a PEG ratio of 2.08 and a beta of 2.37. The stock has a fifty day moving average price of $23.03 and a 200 day moving average price of $17.36. Oscar Health, Inc. has a 52 week low of $10.69 and a 52 week high of $30.38. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.26.

Oscar Health (NYSE:OSCR) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.96. The firm had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.90 billion. Oscar Health had a negative return on equity of 3.26% and a negative net margin of 0.30%.The firm’s quarterly revenue was up 52.6% on a year-over-year basis. During the same period last year, the company earned $0.92 EPS. Equities research analysts anticipate that Oscar Health, Inc. will post 0.47 earnings per share for the current year.

Wall Street Analyst Weigh In

OSCR has been the topic of a number of recent research reports. Robert W. Baird upped their target price on Oscar Health from $15.00 to $19.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Wells Fargo & Company set a $20.00 price target on Oscar Health and gave the stock an “equal weight” rating in a report on Thursday, June 4th. Zacks Research lowered Oscar Health from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th. UBS Group increased their price objective on Oscar Health from $15.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Finally, Jefferies Financial Group raised shares of Oscar Health from an “underperform” rating to a “hold” rating and boosted their target price for the company from $10.00 to $16.00 in a research note on Monday, April 20th. Three equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $20.78.

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.