Point72 Asset Management L.P. Purchases New Position in Oscar Health, Inc. (NYSE:OSCR)

Point72 Asset Management L.P. acquired a new position in shares of Oscar Health, Inc. (NYSE:OSCR) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 930,238 shares of the company’s stock, valued at approximately $14,716,000. Point72 Asset Management L.P. owned approximately 0.39% of Oscar Health at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Symmetry Peak Management LLC purchased a new stake in Oscar Health in the fourth quarter valued at $488,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Oscar Health in the 1st quarter valued at about $4,117,000. Assenagon Asset Management S.A. boosted its position in shares of Oscar Health by 32.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,046,046 shares of the company’s stock valued at $32,368,000 after purchasing an additional 507,009 shares during the period. TD Asset Management Inc grew its stake in Oscar Health by 71.9% during the 4th quarter. TD Asset Management Inc now owns 195,600 shares of the company’s stock worth $1,790,000 after buying an additional 81,800 shares during the last quarter. Finally, First Light Asset Management LLC acquired a new position in Oscar Health during the fourth quarter worth approximately $8,854,000. Hedge funds and other institutional investors own 75.70% of the company’s stock.

Insiders Place Their Bets

In other news, insider Mario Schlosser sold 3,198 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $17.99, for a total value of $57,532.02. Following the completion of the sale, the insider now directly owns 76,982 shares of the company’s stock, valued at approximately $1,384,906.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Oscar Health news, EVP Ranmali Bopitiya sold 36,175 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $17.99, for a total transaction of $650,788.25. Following the transaction, the executive vice president now directly owns 251,885 shares in the company, valued at $4,531,411.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mario Schlosser sold 3,198 shares of Oscar Health stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $17.99, for a total transaction of $57,532.02. Following the sale, the insider now owns 76,982 shares of the company’s stock, valued at $1,384,906.18. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 169,569 shares of company stock worth $3,007,069. Company insiders own 25.11% of the company’s stock.

Analyst Ratings Changes

OSCR has been the subject of several research analyst reports. Piper Sandler reissued an “overweight” rating and issued a $28.00 price objective on shares of Oscar Health in a report on Tuesday, September 10th. Wells Fargo & Company increased their price target on shares of Oscar Health from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 12th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $24.17.

Oscar Health Stock Performance

NYSE:OSCR opened at $21.21 on Tuesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market cap of $5.03 billion, a price-to-earnings ratio of -53.03, a price-to-earnings-growth ratio of 43.01 and a beta of 1.61. The firm’s fifty day moving average price is $18.60 and its 200 day moving average price is $17.89. Oscar Health, Inc. has a 1-year low of $4.72 and a 1-year high of $23.79.

Oscar Health (NYSE:OSCR) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.04. The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.13 billion. Oscar Health had a net margin of 0.25% and a return on equity of 1.86%. The business’s revenue was up 44.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.07) earnings per share. On average, sell-side analysts expect that Oscar Health, Inc. will post 0.01 EPS for the current 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.