The Manufacturers Life Insurance Company Grows Position in Oscar Health, Inc. (NYSE:OSCR)

The Manufacturers Life Insurance Company increased its position in Oscar Health, Inc. (NYSE:OSCR) by 7.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 353,072 shares of the company’s stock after purchasing an additional 23,943 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.15% of Oscar Health worth $7,489,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Oscar Health by 7.5% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 12,028 shares of the company’s stock valued at $255,000 after purchasing an additional 844 shares during the period. Summit Trail Advisors LLC lifted its stake in shares of Oscar Health by 5.4% in the 2nd quarter. Summit Trail Advisors LLC now owns 20,820 shares of the company’s stock valued at $329,000 after purchasing an additional 1,065 shares during the period. KBC Group NV lifted its stake in shares of Oscar Health by 41.2% in the 3rd quarter. KBC Group NV now owns 4,552 shares of the company’s stock valued at $97,000 after purchasing an additional 1,328 shares during the period. Arizona State Retirement System lifted its stake in shares of Oscar Health by 3.7% in the 2nd quarter. Arizona State Retirement System now owns 38,059 shares of the company’s stock valued at $602,000 after purchasing an additional 1,351 shares during the period. Finally, Amalgamated Bank lifted its stake in shares of Oscar Health by 27.7% in the 2nd quarter. Amalgamated Bank now owns 6,727 shares of the company’s stock valued at $106,000 after purchasing an additional 1,458 shares during the period. Hedge funds and other institutional investors own 75.70% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Victoria Baltrus sold 8,078 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $18.08, for a total value of $146,050.24. Following the transaction, the chief accounting officer now owns 146,036 shares in the company, valued at $2,640,330.88. This represents a 5.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Richard Scott Blackley sold 25,279 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $18.08, for a total transaction of $457,044.32. Following the sale, the chief financial officer now directly owns 881,841 shares of the company’s stock, valued at approximately $15,943,685.28. This represents a 2.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders acquired 1,055,478 shares of company stock valued at $14,432,852 and sold 150,360 shares valued at $2,645,074. Corporate insiders own 25.11% of the company’s stock.

Oscar Health Stock Down 5.7 %

Oscar Health stock opened at $16.96 on Thursday. The firm has a market cap of $4.19 billion, a price-to-earnings ratio of -282.95 and a beta of 1.63. The stock has a fifty day simple moving average of $17.18 and a two-hundred day simple moving average of $17.94. Oscar Health, Inc. has a 12 month low of $7.50 and a 12 month high of $23.79. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.26.

Oscar Health (NYSE:OSCR) last posted its earnings results on Thursday, November 7th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.02). The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.33 billion. Oscar Health had a return on equity of 2.79% and a net margin of 0.35%. The firm’s revenue for the quarter was up 68.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.29) EPS. Equities analysts predict that Oscar Health, Inc. will post -0.01 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Piper Sandler restated an “overweight” rating and issued a $28.00 target price on shares of Oscar Health in a research note on Tuesday, September 10th. UBS Group started coverage on Oscar Health in a research report on Monday, October 7th. They set a “neutral” rating and a $23.00 price objective for the company. Finally, Bank of America lowered Oscar Health from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $21.00 to $13.50 in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Oscar Health currently has an average rating of “Moderate Buy” and an average price target of $22.93.

About Oscar Health

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.