JPMorgan Chase & Co. Boosts Stake in Oscar Health, Inc. (NYSE:OSCR)

JPMorgan Chase & Co. lifted its stake in shares of Oscar Health, Inc. (NYSE:OSCR - Free Report) by 68.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,309,150 shares of the company's stock after acquiring an additional 938,742 shares during the quarter. JPMorgan Chase & Co. owned 0.93% of Oscar Health worth $48,977,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OSCR. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Oscar Health by 26.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,210 shares of the company's stock worth $383,000 after purchasing an additional 5,138 shares during the period. Principal Financial Group Inc. raised its holdings in Oscar Health by 40.8% in the second quarter. Principal Financial Group Inc. now owns 26,266 shares of the company's stock valued at $416,000 after acquiring an additional 7,616 shares in the last quarter. Rhumbline Advisers lifted its stake in Oscar Health by 8.7% in the second quarter. Rhumbline Advisers now owns 270,341 shares of the company's stock worth $4,277,000 after acquiring an additional 21,717 shares during the last quarter. TD Asset Management Inc grew its holdings in Oscar Health by 35.9% during the 2nd quarter. TD Asset Management Inc now owns 669,684 shares of the company's stock worth $10,594,000 after acquiring an additional 176,884 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Oscar Health by 114.1% in the 2nd quarter. Victory Capital Management Inc. now owns 40,976 shares of the company's stock valued at $648,000 after purchasing an additional 21,840 shares during the last quarter. 75.70% of the stock is currently owned by hedge funds and other institutional investors.

Oscar Health Stock Performance

Shares of OSCR stock traded up $0.80 during trading hours on Friday, hitting $14.35. The stock had a trading volume of 2,248,679 shares, compared to its average volume of 2,288,690. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a market capitalization of $3.55 billion, a PE ratio of -239.13 and a beta of 1.63. The stock's 50 day moving average is $15.28 and its 200 day moving average is $16.99. Oscar Health, Inc. has a twelve month low of $8.44 and a twelve month high of $23.79.

Oscar Health (NYSE:OSCR - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.02). The business had revenue of $2.42 billion for the quarter, compared to analyst estimates 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 quarter in the prior year, the company earned ($0.29) EPS. As a group, research analysts forecast that Oscar Health, Inc. will post -0.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

OSCR has been the subject of a number of analyst reports. Piper Sandler reiterated an "overweight" rating and set 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. Bank of America lowered Oscar Health from a "neutral" rating to an "underperform" rating and cut their target price for the stock from $21.00 to $13.50 in a research report on Wednesday, November 6th. Finally, Jefferies Financial Group initiated coverage on Oscar Health in a report on Tuesday, December 10th. They issued an "underperform" rating and a $12.00 price target for the company. Two analysts have rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Oscar Health presently has an average rating of "Hold" and a consensus target price of $21.56.

Insider Buying and Selling

In other news, CAO Victoria Baltrus sold 8,078 shares of the firm's stock in a transaction 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 completion of the sale, the chief accounting officer now owns 146,036 shares in the company, valued at approximately $2,640,330.88. This trade represents a 5.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Steven Wolin sold 19,580 shares of Oscar Health stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $18.08, for a total transaction of $354,006.40. Following the completion of the sale, the chief operating officer now directly owns 102,598 shares in the company, valued at approximately $1,854,971.84. The trade was a 16.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 1,055,478 shares of company stock valued at $14,432,852 and have sold 103,610 shares valued at $1,847,519. Corporate insiders own 25.11% of the company's stock.

Oscar Health 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.