Westfield Capital Management Co. LP Makes New Investment in Oscar Health, Inc. (NYSE:OSCR)

Westfield Capital Management Co. LP purchased a new position in shares of Oscar Health, Inc. (NYSE:OSCR) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 1,294,280 shares of the company’s stock, valued at approximately $27,452,000.

A number of other hedge funds have also recently made changes to their positions in the business. Point72 Hong Kong Ltd bought a new position in shares of Oscar Health during the 2nd quarter valued at $78,000. Quest Partners LLC purchased a new position in shares of Oscar Health in the second quarter worth about $93,000. 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 acquiring an additional 1,328 shares during the last quarter. Amalgamated Bank boosted its holdings in Oscar Health by 27.7% during the 2nd quarter. Amalgamated Bank now owns 6,727 shares of the company’s stock valued at $106,000 after acquiring an additional 1,458 shares during the period. Finally, Optimum Investment Advisors purchased a new stake in Oscar Health during the 3rd quarter valued at about $142,000. 75.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Oscar Health Stock Performance

OSCR opened at $15.98 on Monday. Oscar Health, Inc. has a 12-month low of $7.29 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. The stock has a fifty day simple moving average of $17.90 and a two-hundred day simple moving average of $18.18.

Oscar Health (NYSE:OSCR) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share (EPS) 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 business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.33 billion. During the same period last year, the business earned ($0.29) earnings per share. The company’s revenue was up 68.3% on a year-over-year basis. Equities research analysts expect that Oscar Health, Inc. will post -0.01 EPS for the current fiscal year.

Insider Transactions at Oscar Health

In related news, EVP Alessandrea C. Quane sold 16,793 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $17.06, for a total transaction of $286,488.58. Following the transaction, the executive vice president now owns 392,607 shares in the company, valued at $6,697,875.42. This represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Joshua Kushner bought 276,040 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was bought at an average price of $13.58 per share, for a total transaction of $3,748,623.20. Following the acquisition, the insider now directly owns 5,031,262 shares of the company’s stock, valued at $68,324,537.96. The trade was a 5.80 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 1,055,478 shares of company stock worth $14,432,852 and have sold 194,569 shares worth $3,433,319. 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.