What Happened?
Shares of health insurance company Oscar Health (NYSE: OSCR) fell 2.1% in the morning session after institutional investor Blue Square Asset Management, LLC, disclosed it sold its entire stake in the company.
According to the firm's latest 13F filing with the Securities & Exchange Commission, it exited its position of 17,462 shares. The report also highlighted that several other large investors had recently modified their holdings in the stock. Sales by institutional investors can sometimes worry the market, as these actions may suggest a lack of confidence from informed participants about a company's near-term outlook, prompting others to sell.
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What Is The Market Telling Us
Oscar Health’s shares are extremely volatile and have had 55 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 15 days ago when the stock gained 12.7% on the news that analyst firm Barclays upgraded the stock's rating to Equalweight from Underweight and raised its price target.
Barclays increased its price target on Oscar Health to $18.00 from $13.00. The firm's analyst believed the health insurance company was "priced attractively." The upgrade was also based on the view that the market had been "over-discounting the negative outcomes from expiring subsidies." Other factors cited for the positive outlook included the potential for profit margin expansion within the managed care sector and a trend of investors moving away from AI-related stocks and into health insurers.
Oscar Health is up 8.2% since the beginning of the year, but at $16.20 per share, it is still trading 27.9% below its 52-week high of $22.47 from October 2025. Investors who bought $1,000 worth of Oscar Health’s shares at the IPO in March 2021 would now be looking at an investment worth $465.37.
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