Simplify Asset Management Inc. Invests $2.95 Million in Oscar Health, Inc. $OSCR

Simplify Asset Management Inc. purchased a new position in shares of Oscar Health, Inc. (NYSE:OSCR) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 205,131 shares of the company’s stock, valued at approximately $2,948,000.

Several other hedge funds also recently modified their holdings of OSCR. Vanguard Group Inc. boosted its holdings in shares of Oscar Health by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 20,701,250 shares of the company’s stock worth $297,477,000 after buying an additional 540,851 shares during the period. Thrive Capital Management LLC boosted its holdings in shares of Oscar Health by 33.4% during the 4th quarter. Thrive Capital Management LLC now owns 6,343,617 shares of the company’s stock worth $85,258,000 after buying an additional 1,588,395 shares during the period. American Century Companies Inc. boosted its holdings in shares of Oscar Health by 89.0% during the 3rd quarter. American Century Companies Inc. now owns 5,298,340 shares of the company’s stock worth $100,298,000 after buying an additional 2,495,691 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Oscar Health by 0.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,718,765 shares of the company’s stock valued at $70,400,000 after purchasing an additional 31,785 shares during the period. Finally, Farallon Capital Management LLC boosted its holdings in Oscar Health by 146.5% in the 3rd quarter. Farallon Capital Management LLC now owns 3,639,000 shares of the company’s stock valued at $68,886,000 after purchasing an additional 2,163,000 shares during the period. Institutional investors and hedge funds own 75.70% of the company’s stock.

Insider Activity

In related news, CEO Mark T. Bertolini acquired 1,000,000 shares of the stock in a transaction on Monday, April 6th. The stock was purchased at an average price of $11.92 per share, for a total transaction of $11,920,000.00. Following the transaction, the chief executive officer owned 10,196,876 shares of the company’s stock, valued at $121,546,761.92. The trade was a 10.87% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard Scott Blackley sold 100,000 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $23.16, for a total transaction of $2,316,000.00. Following the completion of the sale, the chief financial officer owned 1,216,660 shares of the company’s stock, valued at $28,177,845.60. The trade was a 7.59% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 24.39% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on OSCR. Raymond James Financial raised shares of Oscar Health from a “market perform” rating to an “outperform” rating and set a $18.00 price target for the company in a report on Thursday, February 12th. UBS Group increased their price target on shares of Oscar Health from $15.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Wolfe Research began coverage on shares of Oscar Health in a report on Tuesday, May 5th. They issued a “peer perform” rating for the company. Jefferies Financial Group raised shares of Oscar Health from an “underperform” rating to a “hold” rating and increased their price target for the company from $10.00 to $16.00 in a report on Monday, April 20th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Oscar Health in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $18.22.

Oscar Health Price Performance

NYSE:OSCR opened at $22.67 on Monday. The company has a market capitalization of $6.83 billion, a price-to-earnings ratio of -38.42, a PEG ratio of 1.58 and a beta of 2.34. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.11 and a current ratio of 1.11. The company has a 50-day moving average of $16.49 and a 200-day moving average of $15.58. Oscar Health, Inc. has a 52 week low of $10.69 and a 52 week high of $25.58.

Oscar Health (NYSE:OSCR) last announced its 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 business had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.90 billion. Oscar Health had a negative net margin of 0.30% and a negative return on equity of 3.26%. The firm’s revenue for the quarter was up 52.6% on a year-over-year basis. During the same quarter last year, the company posted $0.92 EPS. As a group, equities research analysts anticipate that Oscar Health, Inc. will post 0.47 earnings per share for the current fiscal year.

About Oscar Health

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.