Oscar Health (NYSE:OSCR) Shares Up 11.6% – What’s Next?

Oscar Health, Inc. (NYSE:OSCR)’s stock price was up 11.6% during trading on Tuesday . The company traded as high as $17.90 and last traded at $17.83. Approximately 1,145,058 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 3,378,965 shares. The stock had previously closed at $15.98.

Wall Street Analyst Weigh In

OSCR has been the topic of several recent analyst reports. Bank of America lowered Oscar Health from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $21.00 to $13.50 in a research note on Wednesday, November 6th. Piper Sandler reaffirmed an “overweight” rating and set a $28.00 target price on shares of Oscar Health in a research note on Tuesday, September 10th. Finally, UBS Group initiated coverage on shares of Oscar Health in a research report on Monday, October 7th. They set a “neutral” rating and a $23.00 price target for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.93.

Oscar Health Stock Performance

The stock has a market capitalization of $4.40 billion, a PE ratio of -297.78 and a beta of 1.67. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.73 and a current ratio of 0.73. The firm’s 50 day moving average is $18.17 and its two-hundred day moving average is $18.26.

Oscar Health (NYSE:OSCR) last released its earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.02). Oscar Health had a net margin of 0.35% and a return on equity of 2.79%. The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.33 billion. During the same quarter last year, the business posted ($0.29) earnings per share. The company’s revenue for the quarter was up 68.3% on a year-over-year basis. As a group, research analysts predict that Oscar Health, Inc. will post -0.01 earnings per share for the current year.

Insider Activity

In related news, insider Mario Schlosser sold 3,198 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $17.99, for a total value of $57,532.02. Following the transaction, the insider now directly owns 76,982 shares of the company’s stock, valued at $1,384,906.18. This trade represents a 3.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Thrive Partners Vii Growth Gp, bought 420,819 shares of Oscar Health stock in a transaction dated Tuesday, November 12th. The stock was purchased at an average cost of $13.68 per share, with a total value of $5,756,803.92. Following the completion of the acquisition, the director now directly owns 5,452,081 shares in the company, valued at approximately $74,584,468.08. The trade was a 8.36 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have bought 1,055,478 shares of company stock worth $14,432,852 and have sold 169,569 shares worth $3,007,069. Company insiders own 25.11% of the company’s stock.

Hedge Funds Weigh In On Oscar Health

Several institutional investors have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC grew its stake in shares of Oscar Health by 7.5% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 12,028 shares of the company’s stock valued at $255,000 after purchasing an additional 844 shares during the last quarter. American International Group Inc. raised its position in Oscar Health by 1.3% during the 1st quarter. American International Group Inc. now owns 79,411 shares of the company’s stock worth $1,181,000 after buying an additional 1,009 shares during the last quarter. Summit Trail Advisors LLC raised its position in Oscar Health by 5.4% during the 2nd quarter. Summit Trail Advisors LLC now owns 20,820 shares of the company’s stock worth $329,000 after buying an additional 1,065 shares during the last quarter. KBC Group NV boosted its holdings in shares of Oscar Health by 41.2% in the third quarter. KBC Group NV now owns 4,552 shares of the company’s stock valued at $97,000 after acquiring an additional 1,328 shares in the last quarter. Finally, Arizona State Retirement System boosted its holdings in shares of Oscar Health by 3.7% in the second quarter. Arizona State Retirement System now owns 38,059 shares of the company’s stock valued at $602,000 after acquiring an additional 1,351 shares in the last quarter. Institutional investors and hedge funds own 75.70% of the company’s stock.

About Oscar Health

Oscar Health, Inc operates as a health insurance in the United States. The company offers health plans in individual and small group markets, as well as +Oscar, a technology driven platform that help providers and payors directly enable their shift to value-based care. It also provides reinsurance products.