The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Oak Street Health Inc. shares valued at $20,727,621 were sold by Newlight Partners LP on Sep 16. At $24.72 per share, Newlight Partners LP sold 838,496 shares. The insider’s holdings dropped to 32,671,144 shares worth approximately $856.64 million following the completion of this transaction.
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Also, MYERS GRIFFIN sold 50,000 shares, netting a total of over 1,369,481 in proceeds. Following the sale of shares at $27.39 each, the insider now holds 4,904,159 shares.
Before that, PRICE GEOFFREY M had sold 40,000 shares from its account. In a trade valued at $996,187, the Chief Innovation Officer traded Oak Street Health Inc. shares for $24.90 each. Upon closing the transaction, the insider’s holdings decreased to 40,000 shares, worth approximately $28.14 million.
As published in a research note from Goldman on September 12, 2022, Oak Street Health Inc. [OSH] has been rated down from a Buy to a Neutral and the price target has been revised to $29 from $32. This represents a 9.59% premium over Thursday’s closing price. Analysts at Argus started covering the stock with ‘”a Hold”‘ outlook in a report released in late July. As of June 15, 2022, BofA Securities has decreased its “Buy” rating to a “an Underperform” for OSH. Earlier on May 27, 2022, Stifel initiated its rating. Their recommendation was “a Buy” for OSH stock.
Analyzing OSH’s Price Performance
On Thursday, Oak Street Health Inc. [NYSE: OSH] rose 0.81% to $26.22. The stock’s lowest price that day was $23.81, but it reached a high of $27.5481 in the same session. During the last five days, there has been a drop of approximately -9.12%. Over the course of the year, Oak Street Health Inc. shares have dropped approximately -20.88%. Shares of the company reached a 52-week high of $34.63 on 01/03/22 and a 52-week low of $13.29 on 05/12/22. A 50-day SMA is recorded $27.29, while a 200-day SMA reached $23.25. Nevertheless, trading volume fell to 5.45 million shares from 1.66 million shares the previous day.
Support And Resistance Levels for Oak Street Health Inc. (OSH)
According to the 24-hour chart, there is a support level at 24.17, which, if violated, would cause prices to drop to 22.12. In the upper region, resistance lies at 27.91. The next price resistance is at 29.60. RSI (Relative Strength Index) is 45.94 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.88, which suggests the price will decrease in the coming days. Percent R is at 53.29%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Oak Street Health Inc. subject to short interest?
Stocks of Oak Street Health Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by 80000.0 shares to 22.15 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 22.23 million shares. A decline of -0.36% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 13.93 of the overall float, the days-to-cover ratio (short ratio) decline to 13.93.
Which companies own the most shares of Oak Street Health Inc. (OSH)?
According to Fidelity Management & Research Co filings, the company currently owns 25,171,069 shares, which is about 10.43% of the total OSH shares outstanding. The investor’s shares have appreciated by 619,951 from its previous 13-F filing of 24551118.0 shares. With the completion of the buy transaction, Capital Research & Management Co’s stake is now worth $363,493,246. The Vanguard Group, Inc. acquire a 0.71% interest valued at $265.88 million while Route One Investment Co. LP purchased a 1,192,250 stake. A total of 794,629 shares of Oak Street Health Inc. were bought by Maverick Capital Ltd. during the quarter, and 1,136,154 were bought by Holocene Advisors, LP. In its current portfolio, BlackRock Fund Advisors holds 4,746,824 shares valued at $124.37 million.
In spite of this, 21 analysts ranked Oak Street Health Inc. stock as an Overweight at the end of 2022. On May 27, 2022, Bernstein assigned a price target of “an Outperform” to the stock and initiated coverage with a $26.