Deerfield Mgmt Holds 11.2M Shares in Oscar Health
Ticker: OSCR · Form: SC 13G/A · Filed: Feb 12, 2024 · CIK: 1568651
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, healthcare
TL;DR
**Deerfield Mgmt still owns 11.2M Oscar Health shares, watch for big moves.**
AI Summary
Deerfield Mgmt, L.P., a Delaware-organized entity, filed an amended SC 13G/A on February 12, 2024, disclosing its beneficial ownership in Oscar Health, Inc. As of December 31, 2023, Deerfield Mgmt, L.P. reported shared voting and dispositive power over 11,246,820 shares of Oscar Health's Class A Common Stock. This filing indicates a significant institutional stake, which can provide stability but also means large share blocks could be sold, potentially impacting the stock price.
Why It Matters
This filing shows a major institutional investor's continued significant stake in Oscar Health, which can influence stock stability and future trading patterns.
Risk Assessment
Risk Level: medium — A large institutional holding can provide stability but also poses a risk if the holder decides to liquidate a significant portion of their shares.
Analyst Insight
Investors should monitor future filings from Deerfield Mgmt, L.P. for any changes in their 11,246,820 share position, as a significant reduction could signal a shift in institutional confidence and impact Oscar Health's stock price.
Key Numbers
- 11,246,820 — Shares Beneficially Owned (Represents the shared voting and dispositive power of Deerfield Mgmt, L.P. in Oscar Health, Inc. as of December 31, 2023.)
- 687793109 — CUSIP Number (Identifies Oscar Health, Inc.'s Class A Common Stock.)
- December 31, 2023 — Date of Event (The date as of which the beneficial ownership information is reported.)
Key Players & Entities
- Deerfield Mgmt, L.P. (company) — reporting person and beneficial owner
- Oscar Health, Inc. (company) — the issuer of the securities
- Flynn James E (person) — filer of the SC 13G/A
- Delaware (company) — place of organization for Deerfield Mgmt, L.P.
Forward-Looking Statements
- Deerfield Mgmt, L.P. will maintain a significant stake in Oscar Health, Inc. for the foreseeable future. (Deerfield Mgmt, L.P.) — medium confidence, target: 2025-12-31
FAQ
Who is the primary reporting person in this SC 13G/A filing?
The primary reporting person is Deerfield Mgmt, L.P., as stated on page 2 of the filing under 'NAME OF REPORTING PERSONS'.
What is the total number of shares of Oscar Health, Inc. Class A Common Stock beneficially owned by Deerfield Mgmt, L.P.?
Deerfield Mgmt, L.P. beneficially owns 11,246,820 shares of Oscar Health, Inc. Class A Common Stock, as detailed on page 2, item 6, 'SHARED VOTING POWER'.
What is the CUSIP number for the securities discussed in this filing?
The CUSIP number for Oscar Health, Inc.'s Class A Common Stock is 687793109, as listed on page 1 and page 2 of the filing.
What was the 'Date of Event Which Requires Filing of this Statement'?
The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023, as specified on page 1 of the filing.
Under which rule was this Schedule 13G filed?
This Schedule 13G was filed under Rule 13d-1(c), indicated by the checked box on page 1 of the filing.
Filing Stats: 2,020 words · 8 min read · ~7 pages · Grade level 6.8 · Accepted 2024-02-12 17:28:40
Filing Documents
- e619247_sc13ga-oscar.htm (SC 13G/A) — 99KB
- 0001193805-24-000185.txt ( ) — 100KB
(a)
Item 1(a). Name of Issuer: Oscar Health, Inc.
(b)
Item 1(b). Address of Issuer's Principal Executive Offices: 75 Varick Street, 5th Floor New York, NY 10013
(a)
Item 2(a). Name of Person Filing: James E. Flynn, Deerfield Mgmt, L.P., Deerfield Management Company, L.P. and Deerfield Partners, L.P.
(b)
Item 2(b). Address of Principal Business Office, or if None, Residence: James E. Flynn, Deerfield Mgmt, L.P., Deerfield Management Company, L.P. and Deerfield Partners, L.P., 345 Park Avenue South, 12th Floor, New York, NY 10010
(c)
Item 2(c). Citizenship: Deerfield Mgmt, L.P., Deerfield Management Company, L.P. and Deerfield Partners, L.P. - Delaware limited partnerships; James E. Flynn – United States citizen
(d)
Item 2(d). Title of Class of Securities: Class A Common Stock
(e)
Item 2(e). CUSIP Number: 687793109 Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a: (a) Broker or dealer registered under Section 15 of the Exchange Act. (b) Bank as defined in Section 3(a)(6) of the Exchange Act. (c) Insurance company as defined in Section 3(a)(19) of the Exchange Act. (d) Investment company registered under Section 8 of the Investment Company Act. (e) An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E); (f) An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F); (g) A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G); (h) A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act; (i) A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act; CUSIP No. 687793109 13G Page 7 of 9 (j) A non-U.S. institution in accordance with Rule 13d-1(b)(1)(ii)(J); (k) Group, in accordance with Rule 13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with Rule 13d-1(b)(1)(ii)(J), please specify the type of institution: ___________________________________________ Item 4. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned**: Deerfield Mgmt, L.P. - 11,246,820 shares Deerfield Management Company, L.P. - 11,246,820 shares Deerfield Partners, L.P. - 11,246,820 shares James E. Flynn – 11,246,820 shares (b) Percent of class**: Deerfield Mgmt, L.P. – 5.89% Deerfield Management Company, L.P. – 5.89% Deerfield Partners, L.P. - 5.89% James E. Flynn – 5.89% (c) Number of shares as to which such person has**: (i) Sole power to vote or to direct the vote: All Reporting Persons 0 (ii) Sh