Royal Bank of Canada lifted its position in shares of Oak Street Health, Inc. (NYSE:OSH – Get Rating) by 19.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 504,044 shares of the company’s stock after buying an additional 83,658 shares during the quarter. Royal Bank of Canada owned approximately 0.21% of Oak Street Health worth $12,358,000 at the end of the most recent quarter.
→ Top Innovation Stock (From PressReach)
Other hedge funds and other institutional investors have also modified their holdings of the company. Heritage Wealth Management LLC purchased a new stake in shares of Oak Street Health during the second quarter worth about $58,000. Captrust Financial Advisors boosted its position in shares of Oak Street Health by 114.5% in the first quarter. Captrust Financial Advisors now owns 2,688 shares of the company’s stock worth $72,000 after acquiring an additional 1,435 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Oak Street Health by 1,496.3% in the first quarter. PNC Financial Services Group Inc. now owns 3,480 shares of the company’s stock worth $93,000 after acquiring an additional 3,262 shares during the last quarter. MetLife Investment Management LLC acquired a new stake in shares of Oak Street Health in the first quarter worth approximately $159,000. Finally, Wealthspire Advisors LLC acquired a new stake in shares of Oak Street Health in the second quarter worth approximately $164,000. 92.04% of the stock is currently owned by hedge funds and other institutional investors.
Oak Street Health Trading Down 0.2 %
Shares of NYSE:OSH opened at $35.49 on Thursday. The company has a fifty day simple moving average of $30.39 and a 200 day simple moving average of $25.41. The firm has a market cap of $8.66 billion, a PE ratio of -16.06 and a beta of 2.22. Oak Street Health, Inc. has a 12-month low of $13.29 and a 12-month high of $35.65.
Oak Street Health (NYSE:OSH – Get Rating) last issued its quarterly earnings results on Tuesday, February 28th. The company reported ($0.56) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.02. The business had revenue of $577.70 million during the quarter, compared to analyst estimates of $571.26 million. Oak Street Health had a negative net margin of 23.57% and a negative return on equity of 1,883.59%. The business’s revenue was up 46.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.62) earnings per share. As a group, equities research analysts forecast that Oak Street Health, Inc. will post -1.58 EPS for the current fiscal year.
Insider Buying and Selling
In related news, COO Brian Clem sold 17,569 shares of Oak Street Health stock in a transaction on Tuesday, January 10th. The shares were sold at an average price of $28.88, for a total value of $507,392.72. Following the completion of the sale, the chief operating officer now owns 528,768 shares in the company, valued at $15,270,819.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Oak Street Health news, CFO Timothy M. Cook sold 1,480 shares of the business’s stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $28.49, for a total transaction of $42,165.20. Following the completion of the sale, the chief financial officer now owns 1,357,241 shares in the company, valued at $38,667,796.09. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Brian Clem sold 17,569 shares of the business’s stock in a transaction on Tuesday, January 10th. The shares were sold at an average price of $28.88, for a total transaction of $507,392.72. Following the sale, the chief operating officer now owns 528,768 shares of the company’s stock, valued at approximately $15,270,819.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 624,997 shares of company stock worth $21,058,464. Insiders own 11.40% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on the stock. Piper Sandler cut shares of Oak Street Health from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $47.00 to $39.00 in a research report on Wednesday, February 8th. UBS Group decreased their target price on shares of Oak Street Health from $28.00 to $21.00 and set a “neutral” rating on the stock in a research report on Friday, January 6th. Raymond James cut shares of Oak Street Health from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 9th. Canaccord Genuity Group reduced their price target on shares of Oak Street Health from $32.00 to $27.00 in a research report on Wednesday, November 9th. Finally, William Blair cut shares of Oak Street Health from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 9th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Oak Street Health has an average rating of “Hold” and an average target price of $32.67.
Oak Street Health Company Profile
Oak Street Health, Inc, together with its subsidiaries, offers healthcare services to the patients in the United States. The company operates primary care centers for Medicare beneficiaries. As of December 31, 2021, it operated 129 centers in 19 states, including Illinois, Michigan, Pennsylvania, Ohio, and Texas.
Further Reading
Want to see what other hedge funds are holding OSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Oak Street Health, Inc. (NYSE:OSH – Get Rating).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Oak Street Health, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Oak Street Health wasn’t on the list.
While Oak Street Health currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
Source: marketbeat.com
