IVY Lane Capital Management LLC Takes $574,000 Position in Oscar Health, Inc. $OSCR

IVY Lane Capital Management LLC acquired a new position in shares of Oscar Health, Inc. (NYSE:OSCR) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 50,000 shares of the company’s stock, valued at approximately $574,000. Oscar Health accounts for approximately 0.9% of IVY Lane Capital Management LLC’s portfolio, making the stock its 10th largest holding.

Other institutional investors have also recently modified their holdings of the company. Jones Financial Companies Lllp lifted its stake in Oscar Health by 7,473.3% in 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 in the last quarter. Strs Ohio purchased a new position in Oscar Health during the first quarter worth $30,000. Fifth Third Bancorp increased its position in Oscar Health by 148.7% during the fourth quarter. Fifth Third Bancorp now owns 2,363 shares of the company’s stock worth $34,000 after buying an additional 1,413 shares in the last quarter. Quarry LP increased its position in Oscar Health by 439.8% during the third quarter. Quarry LP now owns 1,803 shares of the company’s stock worth $34,000 after buying an additional 1,469 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Oscar Health in the first quarter worth $49,000. 75.70% of the stock is currently owned by institutional investors and hedge funds.

Oscar Health Trading Up 4.0%

Shares of Oscar Health stock opened at $30.78 on Wednesday. Oscar Health, Inc. has a fifty-two week low of $10.69 and a fifty-two week high of $33.10. The firm has a market cap of $9.28 billion, a PE ratio of -52.17, a P/E/G ratio of 1.66 and a beta of 2.34. The business’s fifty day moving average is $27.21 and its two-hundred day moving average is $19.20. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.26.

Oscar Health (NYSE:OSCR) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.96. The business had revenue of $4.65 billion for the quarter, compared to analysts’ expectations of $4.90 billion. Oscar Health had a negative return on equity of 3.26% and a negative net margin of 0.30%.The business’s revenue was up 52.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.92 earnings per share. Analysts anticipate that Oscar Health, Inc. will post 0.59 earnings per share for the current year.

Insiders Place Their Bets

In other Oscar Health news, Director Mario Schlosser sold 880,000 shares of Oscar Health stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $29.38, for a total value of $25,854,400.00. Following the completion of the sale, the director owned 480,866 shares in the company, valued at $14,127,843.08. The trade was a 64.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Richard Scott Blackley sold 100,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $23.16, for a total transaction of $2,316,000.00. Following the transaction, the chief financial officer directly owned 1,216,660 shares of the company’s stock, valued at approximately $28,177,845.60. This represents a 7.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 3,662,466 shares of company stock valued at $105,145,815. 22.64% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently commented on OSCR. Wolfe Research began coverage on Oscar Health in a research note on Tuesday, May 5th. They set a “peer perform” rating on the stock. Barclays raised shares of Oscar Health from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $30.00 to $35.00 in a research note on Wednesday, June 10th. Robert W. Baird upped their target price on shares of Oscar Health from $15.00 to $19.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. UBS Group raised their price target on shares of Oscar Health from $15.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Finally, Jefferies Financial Group upgraded shares of Oscar Health from an “underperform” rating to a “hold” rating and lifted their price target for the stock from $10.00 to $16.00 in a report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Oscar Health has an average rating of “Hold” and an average target price of $20.78.

Oscar Health Profile

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.