Millennium Management LLC Decreases Holdings in Oscar Health, Inc. (NYSE:OSCR)

Millennium Management LLC cut its stake in Oscar Health, Inc. (NYSE:OSCR) by 44.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,650,544 shares of the company’s stock after selling 1,331,234 shares during the quarter. Millennium Management LLC owned about 0.70% of Oscar Health worth $26,112,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. TD Asset Management Inc increased 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 period. NEOS Investment Management LLC acquired a new stake in Oscar Health during the 4th quarter valued at approximately $205,000. Ratan Capital Management LP increased its holdings in Oscar Health by 45.0% during the 4th quarter. Ratan Capital Management LP now owns 203,114 shares of the company’s stock worth $1,858,000 after purchasing an additional 63,028 shares during the last quarter. Symmetry Peak Management LLC acquired a new stake in shares of Oscar Health during the fourth quarter worth approximately $488,000. Finally, 8 Knots Management LLC bought a new stake in shares of Oscar Health in the fourth quarter worth $2,255,000. Institutional investors and hedge funds own 75.70% of the company’s stock.

Oscar Health Trading Down 5.2 %

Shares of NYSE:OSCR opened at $19.19 on Friday. The company’s 50-day moving average price is $18.86 and its 200 day moving average price is $17.96. The company has a market cap of $4.55 billion, a PE ratio of -47.98, a P/E/G ratio of 41.58 and a beta of 1.62. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.26. Oscar Health, Inc. has a fifty-two week low of $4.72 and a fifty-two week high of $23.79.

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

Wall Street Analyst Weigh In

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 boosted their price objective on shares of Oscar Health from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, June 12th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $24.17.

Insider Buying and Selling at Oscar Health

In related news, insider Mario Schlosser sold 3,198 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $17.99, for a total transaction of $57,532.02. Following the completion of the transaction, the insider now owns 76,982 shares of the company’s stock, valued at $1,384,906.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Mario Schlosser sold 3,198 shares of the 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 completion of the sale, the insider now directly owns 76,982 shares of the company’s stock, valued at $1,384,906.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Alessandrea C. Quane sold 16,793 shares of Oscar Health stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $17.06, for a total transaction of $286,488.58. Following the completion of the transaction, the executive vice president now owns 392,607 shares in the company, valued at approximately $6,697,875.42. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 169,569 shares of company stock valued at $3,007,069. Company insiders own 25.11% of the company’s stock.

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.