1,450,000 Shares in Oscar Health, Inc. $OSCR Purchased by State of Michigan Retirement System

State of Michigan Retirement System bought a new stake in shares of Oscar Health, Inc. (NYSE:OSCR) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,450,000 shares of the company’s stock, valued at approximately $27,448,000.

A number of other large investors also recently made changes to their positions in the business. Farther Finance Advisors LLC boosted its holdings in shares of Oscar Health by 4,420.7% during the third quarter. Farther Finance Advisors LLC now owns 1,311 shares of the company’s stock worth $25,000 after purchasing an additional 1,282 shares during the period. LRI Investments LLC lifted its position in Oscar Health by 377.9% in the 2nd quarter. LRI Investments LLC now owns 1,233 shares of the company’s stock worth $26,000 after buying an additional 975 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Oscar Health by 7,473.3% during the 1st quarter. Jones Financial Companies Lllp now owns 2,272 shares of the company’s stock valued at $30,000 after buying an additional 2,242 shares during the period. Strs Ohio purchased a new position in shares of Oscar Health during the 1st quarter valued at $30,000. Finally, Atlantic Union Bankshares Corp purchased a new position in shares of Oscar Health during the 2nd quarter valued at $33,000. Institutional investors and hedge funds own 75.70% of the company’s stock.

Wall Street Analyst Weigh In

OSCR has been the subject of a number of research reports. Stephens initiated coverage on Oscar Health in a research report on Thursday, December 11th. They set an “equal weight” rating and a $17.00 price objective for the company. Wall Street Zen downgraded Oscar Health from a “hold” rating to a “sell” rating in a research note on Saturday, December 6th. Barclays set a $18.00 price target on Oscar Health and gave the company an “equal weight” rating in a research note on Monday, January 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Oscar Health in a research report on Thursday, January 22nd. Finally, Wells Fargo & Company reduced their target price on shares of Oscar Health from $14.00 to $11.00 and set an “underweight” rating for the company in a research note on Thursday, November 13th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $17.00.

Insider Activity

In related news, insider Adam Mcananey sold 1,852 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $16.59, for a total transaction of $30,724.68. Following the completion of the sale, the insider owned 179,241 shares in the company, valued at $2,973,608.19. This represents a 1.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mario Schlosser sold 286,182 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $15.27, for a total value of $4,369,999.14. Following the completion of the sale, the insider directly owned 501,148 shares in the company, valued at $7,652,529.96. This trade represents a 36.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 483,307 shares of company stock valued at $7,635,300. 24.39% of the stock is owned by corporate insiders.

Oscar Health Stock Down 2.2%

OSCR opened at $12.24 on Friday. The firm has a market cap of $3.24 billion, a P/E ratio of -10.93 and a beta of 1.90. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.92 and a current ratio of 0.92. The business has a 50 day moving average price of $15.60 and a 200 day moving average price of $16.76. Oscar Health, Inc. has a twelve month low of $11.20 and a twelve month high of $23.80.

Oscar Health (NYSE:OSCR) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.53) EPS for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.02. Oscar Health had a negative net margin of 2.16% and a negative return on equity of 21.50%. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same quarter last year, the firm posted ($0.22) earnings per share. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. Research analysts forecast that Oscar Health, Inc. will post 0.69 EPS for the current 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.