Soros Fund Management LLC Makes New Investment in Oscar Health, Inc. (NYSE:OSCR)

Soros Fund Management LLC bought a new stake in Oscar Health, Inc. (NYSE:OSCR - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 600,000 shares of the company's stock, valued at approximately $12,726,000. Soros Fund Management LLC owned approximately 0.25% of Oscar Health as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of OSCR. Westfield Capital Management Co. LP purchased a new stake in Oscar Health in the 3rd quarter valued at about $27,452,000. Renaissance Technologies LLC lifted its holdings in Oscar Health by 31.7% during the second quarter. Renaissance Technologies LLC now owns 3,886,100 shares of the company's stock worth $61,478,000 after acquiring an additional 934,600 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Oscar Health during the 2nd quarter worth $14,716,000. Bank of New York Mellon Corp boosted its holdings in shares of Oscar Health by 161.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,393,048 shares of the company's stock worth $22,038,000 after buying an additional 860,226 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in Oscar Health during the second quarter valued at about $9,329,000. Hedge funds and other institutional investors own 75.70% of the company's stock.

Oscar Health Stock Performance

Shares of NYSE:OSCR traded down $0.92 during trading on Friday, hitting $15.48. 2,617,594 shares of the company were exchanged, compared to its average volume of 3,431,630. The company has a market cap of $3.83 billion, a PE ratio of -253.67 and a beta of 1.63. Oscar Health, Inc. has a 52-week low of $7.50 and a 52-week high of $23.79. 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 stock has a 50 day moving average of $17.00 and a 200 day moving average of $17.92.

Oscar Health (NYSE:OSCR - Get Free Report) last posted its 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). Oscar Health had a net margin of 0.35% and a return on equity of 2.79%. The company had revenue of $2.42 billion for the quarter, compared to analysts' expectations of $2.33 billion. During the same period in the previous year, the firm earned ($0.29) EPS. The firm's quarterly revenue was up 68.3% compared to the same quarter last year. As a group, equities research analysts predict that Oscar Health, Inc. will post -0.01 EPS for the current year.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related news, CAO Victoria Baltrus sold 8,078 shares of the firm'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 value of $146,050.24. Following the sale, the chief accounting officer now directly owns 146,036 shares of the company's stock, valued at $2,640,330.88. This trade represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Vice Chairman Joshua Kushner purchased 276,040 shares of the business's stock in a transaction on Monday, November 11th. The stock was bought at an average cost of $13.58 per share, with a total value of $3,748,623.20. Following the purchase, the insider now owns 5,031,262 shares in the company, valued at approximately $68,324,537.96. This represents a 5.80 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have bought 1,055,478 shares of company stock worth $14,432,852 and have sold 103,610 shares worth $1,847,519. Corporate 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.