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

Oscar Health, Inc. (NYSE:OSCR) gapped up before the market opened on Monday . The stock had previously closed at $15.98, but opened at $16.85. Oscar Health shares last traded at $16.06, with a volume of 372,316 shares traded.

Wall Street Analysts Forecast Growth

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

Oscar Health Stock Down 3.4 %

The firm has a market capitalization of $4.03 billion, a P/E ratio of -271.29 and a beta of 1.67. The firm’s 50 day moving average is $17.68 and its two-hundred day moving average is $18.11. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.73 and a quick ratio of 0.73.

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

Insider Transactions at Oscar Health

In other news, Vice Chairman Joshua Kushner bought 276,040 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were bought 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 owns 5,031,262 shares of the company’s stock, valued at $68,324,537.96. This trade represents a 5.80 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Richard Scott Blackley sold 68,978 shares of Oscar Health stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $17.99, for a total value of $1,240,914.22. Following the sale, the chief financial officer now directly owns 884,213 shares of the company’s stock, valued at approximately $15,906,991.87. The trade was a 7.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders acquired 1,055,478 shares of company stock worth $14,432,852 and sold 194,569 shares worth $3,433,319. 25.11% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Oscar Health

A number of hedge funds have recently bought and sold shares of the business. Janney Montgomery Scott LLC bought a new stake in Oscar Health in the 3rd quarter valued at about $988,000. Versor Investments LP bought a new stake in shares of Oscar Health in the third quarter valued at approximately $787,000. Algert Global LLC grew its position in Oscar Health by 63.3% during the third quarter. Algert Global LLC now owns 369,685 shares of the company’s stock worth $7,841,000 after buying an additional 143,346 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Oscar Health by 32.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,046,046 shares of the company’s stock worth $32,368,000 after acquiring an additional 507,009 shares during the period. Finally, FCG Investment Co acquired a new position in Oscar Health in the 3rd quarter valued at $986,000. 75.70% of the stock is owned by institutional investors.

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.