Oscar Health (NYSE:OSCR) Trading Up 6.2% – Here’s What Happened

Oscar Health, Inc. (NYSE:OSCR)’s stock price rose 6.2% during mid-day trading on Monday . The company traded as high as $18.46 and last traded at $18.41. Approximately 1,394,012 shares traded hands during trading, a decline of 59% from the average daily volume of 3,397,499 shares. The stock had previously closed at $17.33.

Analysts Set New Price Targets

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

Oscar Health Trading Up 3.9 %

The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $4.45 billion, a PE ratio of -306.83 and a beta of 1.67. The stock has a 50 day moving average price of $17.33 and a 200-day moving average price of $17.99.

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

Insider Activity

In related news, Director Thrive Partners Vii Growth Gp, bought 420,819 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was bought at an average cost of $13.68 per share, with a total value of $5,756,803.92. Following the completion of the purchase, the director now owns 5,452,081 shares of the company’s stock, valued at approximately $74,584,468.08. The trade was a 8.36 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Vice Chairman Joshua Kushner bought 276,040 shares of the stock in a transaction dated Monday, November 11th. The shares were purchased at an average price of $13.58 per share, with a total value of $3,748,623.20. Following the completion of the transaction, the insider now directly owns 5,031,262 shares in the company, valued at approximately $68,324,537.96. The trade was a 5.80 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 1,055,478 shares of company stock valued at $14,432,852 and have sold 194,569 shares valued at $3,433,319. Insiders own 25.11% of the company’s stock.

Hedge Funds Weigh In On Oscar Health

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Simplicity Wealth LLC purchased a new stake in Oscar Health in the 2nd quarter worth about $179,000. SG Americas Securities LLC lifted its holdings in Oscar Health by 900.6% during the second quarter. SG Americas Securities LLC now owns 190,039 shares of the company’s stock worth $3,006,000 after buying an additional 171,047 shares during the period. Assenagon Asset Management S.A. boosted its position in Oscar Health by 32.9% during the second quarter. Assenagon Asset Management S.A. now owns 2,046,046 shares of the company’s stock valued at $32,368,000 after purchasing an additional 507,009 shares in the last quarter. Raymond James & Associates bought a new position in shares of Oscar Health during the 2nd quarter worth approximately $3,168,000. Finally, Hennessy Advisors Inc. bought a new position in shares of Oscar Health during the 2nd quarter worth approximately $9,047,000. 75.70% of the stock is owned by hedge funds and other institutional investors.

Oscar Health Company Profile

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.