Long Position on OSH @ $52.00 on 11/12/2020 (Momentum)

Oak Street Health, Inc (OSH) engages in designing and building the Oak Street platform to address the unmet needs of the chronically ill Medicare population in the United States.

It operates primary care centers serving Medicare beneficiaries.

The company contracts with health plans to generate medical costs savings and realize a return on its investment in primary care.

As of March 31, 2020, it operated 54 centers in Illinois, Indiana, Michigan, Ohio, Pennsylvania, Rhode Island, North Carolina, and Tennessee.

On Monday, Oak Street Health (OSH) reported a 3rd Quarter September 2020 loss of $0.15 per share on revenue of $217.9 million. The consensus estimate was a loss of $0.15 per share on revenue of $211.7 million.

The company said it expects 2020 revenue of $854.0 million to $858.0 million. The current consensus revenue estimate is $848.37 million for the year ending December 31, 2020.

Shares of this recent IPO are sitting at a trendline support having rebounded from their 50-day moving average. Higher share prices are expected.

Entry Point: $52.00

Trading Range: $34.98 - $56.28

Stop Loss: $49.40

Target Price: $57.20

Updates

12/10/2020 11:28:14 AM

OSH closed at $56.60.

Position closed on 12/10/2020 at price of $56.60 with a 8.85% gain in 28 days.

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