Redmile Group LLC Decreases Stake in Oak Street Health, Inc. (NYSE:OSH)

Redmile Group LLC cut its stake in shares of Oak Street Health, Inc. (NYSE:OSH) by 21.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,302,653 shares of the company’s stock after selling 627,758 shares during the period. Oak Street Health makes up 2.0% of Redmile Group LLC’s holdings, making the stock its 15th biggest holding. Redmile Group LLC owned approximately 0.96% of Oak Street Health worth $134,866,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Panagora Asset Management Inc. acquired a new position in shares of Oak Street Health in the first quarter valued at approximately $117,000. Harbor Investment Advisory LLC acquired a new position in Oak Street Health during the 2nd quarter worth approximately $127,000. PNC Financial Services Group Inc. grew its holdings in Oak Street Health by 21,572.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,384 shares of the company’s stock worth $140,000 after acquiring an additional 2,373 shares in the last quarter. Loomis Sayles & Co. L P acquired a new position in Oak Street Health during the 1st quarter worth approximately $142,000. Finally, Picton Mahoney Asset Management acquired a new position in Oak Street Health during the 2nd quarter worth approximately $164,000. Institutional investors and hedge funds own 79.41% of the company’s stock.

NYSE OSH traded down $0.76 during trading hours on Wednesday, reaching $44.29. The company’s stock had a trading volume of 10,558 shares, compared to its average volume of 1,483,290. The stock has a market cap of $10.67 billion and a PE ratio of -35.20. Oak Street Health, Inc. has a fifty-two week low of $35.67 and a fifty-two week high of $66.31. The company’s 50-day moving average is $46.87 and its two-hundred day moving average is $55.19. The company has a debt-to-equity ratio of 4.07, a quick ratio of 3.40 and a current ratio of 3.40.

Oak Street Health (NYSE:OSH) last released its earnings results on Monday, August 9th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.36) by ($0.08). The firm had revenue of $353.10 million during the quarter, compared to analysts’ expectations of $318.09 million. Oak Street Health had a negative net margin of 27.56% and a negative return on equity of 88.34%. The business’s revenue for the quarter was up 64.7% on a year-over-year basis. Equities analysts expect that Oak Street Health, Inc. will post -1.78 earnings per share for the current fiscal year.

In related news, COO Geoffrey M. Price sold 72,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 26th. The shares were sold at an average price of $45.24, for a total value of $3,279,900.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Geoffrey M. Price sold 7,893 shares of the stock in a transaction that occurred on Thursday, August 5th. The shares were sold at an average price of $65.12, for a total transaction of $513,992.16. Following the completion of the sale, the chief operating officer now directly owns 3,796,289 shares of the company’s stock, valued at approximately $247,214,339.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 761,803 shares of company stock worth $36,103,090. 10.10% of the stock is owned by insiders.

OSH has been the subject of several recent analyst reports. Morgan Stanley reduced their price objective on shares of Oak Street Health from $79.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, August 31st. Raymond James reduced their price objective on shares of Oak Street Health from $70.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday, August 12th. Truist reduced their price objective on shares of Oak Street Health from $72.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, October 13th. Barclays initiated coverage on shares of Oak Street Health in a research report on Thursday, August 12th. They set an “overweight” rating and a $71.00 price objective for the company. Finally, SVB Leerink initiated coverage on shares of Oak Street Health in a research report on Monday, September 27th. They issued a “market perform” rating and a $51.00 price target for the company. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $63.41.

About Oak Street Health

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, 2020, it operated 79 centers in Illinois, Indiana, Michigan, Mississippi, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, Tennessee, and Texas.

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Institutional Ownership by Quarter for Oak Street Health (NYSE:OSH)

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