Oscar Health, Inc. $OSCR Position Reduced by Fortis Group Advisors LLC

Fortis Group Advisors LLC reduced its position in Oscar Health, Inc. (NYSE:OSCR) by 33.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 103,822 shares of the company’s stock after selling 52,800 shares during the period. Fortis Group Advisors LLC’s holdings in Oscar Health were worth $1,869,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in OSCR. GSA Capital Partners LLP grew its position in Oscar Health by 238.8% during the 3rd quarter. GSA Capital Partners LLP now owns 35,753 shares of the company’s stock worth $677,000 after purchasing an additional 25,199 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Oscar Health by 2.1% in the third quarter. Vanguard Group Inc. now owns 20,160,399 shares of the company’s stock worth $381,636,000 after buying an additional 423,184 shares during the period. State of New Jersey Common Pension Fund D purchased a new position in shares of Oscar Health during the third quarter valued at $2,611,000. PNC Financial Services Group Inc. raised its position in Oscar Health by 287.2% during the third quarter. PNC Financial Services Group Inc. now owns 27,649 shares of the company’s stock valued at $523,000 after buying an additional 20,509 shares during the period. Finally, Mason & Associates Inc acquired a new position in Oscar Health during the third quarter valued at $722,000. Hedge funds and other institutional investors own 75.70% of the company’s stock.

Oscar Health Price Performance

Shares of NYSE:OSCR opened at $13.39 on Wednesday. The stock has a market capitalization of $3.54 billion, a P/E ratio of -7.70 and a beta of 1.90. The business has a 50-day moving average of $15.10 and a two-hundred day moving average of $16.72. Oscar Health, Inc. has a fifty-two week low of $11.20 and a fifty-two week high of $23.80. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.92 and a quick ratio of 0.92.

Oscar Health (NYSE:OSCR) last issued its quarterly earnings data on Tuesday, February 10th. The company reported ($1.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.32). The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $3.12 billion. Oscar Health had a negative net margin of 3.79% and a negative return on equity of 37.72%. The firm’s revenue was up 17.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.62) earnings per share. On average, equities research analysts predict that Oscar Health, Inc. will post 0.69 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on OSCR. Raymond James Financial raised Oscar Health from a “market perform” rating to an “outperform” rating and set a $18.00 target price on the stock in a research note on Thursday, February 12th. Wells Fargo & Company reduced their price target on shares of Oscar Health from $14.00 to $11.00 and set an “underweight” rating for the company in a research report on Thursday, November 13th. Piper Sandler raised shares of Oscar Health from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $13.00 to $25.00 in a research report on Tuesday, November 25th. Wall Street Zen upgraded shares of Oscar Health from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Oscar Health in a report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $16.88.

Insider Activity

In other news, insider Adam Mcananey sold 1,852 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $16.59, for a total value of $30,724.68. Following the sale, the insider directly owned 179,241 shares of the company’s stock, valued at approximately $2,973,608.19. This trade represents a 1.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mario Schlosser sold 76,962 shares of Oscar Health stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $17.01, for a total value of $1,309,123.62. Following the completion of the transaction, the insider owned 350,180 shares in the company, valued at $5,956,561.80. The trade was a 18.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 197,125 shares of company stock valued at $3,265,300. 25.11% of the stock is owned by corporate insiders.

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.