Oscar Health (NYSE:OSCR) Shares Up 4.1% – Here’s What Happened

Oscar Health, Inc. (NYSE:OSCR)’s stock price traded up 4.1% on Wednesday . The stock traded as high as $15.18 and last traded at $14.98. 739,484 shares were traded during mid-day trading, a decline of 67% from the average session volume of 2,250,402 shares. The stock had previously closed at $14.39.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on OSCR shares. UBS Group initiated coverage on Oscar Health in a research report on Monday, October 7th. They set a “neutral” rating and a $23.00 target price for the company. Piper Sandler restated an “overweight” rating and set a $28.00 price objective on shares of Oscar Health in a report on Tuesday, September 10th. Jefferies Financial Group began coverage on shares of Oscar Health in a report on Tuesday, December 10th. They issued an “underperform” rating and a $12.00 target price on the stock. Finally, Bank of America lowered shares of 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 report on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Oscar Health has an average rating of “Hold” and a consensus target price of $21.56.

Oscar Health Stock Performance

The stock’s 50 day moving average is $15.24 and its two-hundred day moving average is $16.94. The stock has a market capitalization of $3.72 billion, a price-to-earnings ratio of -250.46 and a beta of 1.70. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.26.

Oscar Health (NYSE:OSCR) last posted 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 period in the prior year, the company earned ($0.29) earnings per share. The firm’s quarterly revenue was up 68.3% on a year-over-year basis. Analysts expect that Oscar Health, Inc. will post -0.01 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Victoria Baltrus sold 8,078 shares of Oscar Health stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $18.08, for a total value of $146,050.24. Following the completion of the transaction, the chief accounting officer now owns 146,036 shares of the company’s stock, valued at $2,640,330.88. This trade represents a 5.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Thrive Partners Vii Growth Gp, bought 420,819 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was purchased at an average cost of $13.68 per share, for a total transaction of $5,756,803.92. Following the completion of the acquisition, the director now owns 5,452,081 shares in the company, valued at $74,584,468.08. This trade represents a 8.36 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 1,055,478 shares of company stock worth $14,432,852 and have sold 103,610 shares worth $1,847,519. 25.11% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Oscar Health

Institutional investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC lifted its holdings in Oscar Health by 7.5% during 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. Summit Trail Advisors LLC raised its position in shares of Oscar Health by 5.4% in the second quarter. Summit Trail Advisors LLC now owns 20,820 shares of the company’s stock valued at $329,000 after purchasing an additional 1,065 shares during the period. KBC Group NV lifted its stake in shares of Oscar Health by 41.2% during the 3rd quarter. KBC Group NV now owns 4,552 shares of the company’s stock worth $97,000 after buying an additional 1,328 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Oscar Health by 3.7% during the 2nd quarter. Arizona State Retirement System now owns 38,059 shares of the company’s stock worth $602,000 after buying an additional 1,351 shares during the period. Finally, Amalgamated Bank boosted its holdings in shares of Oscar Health by 27.7% during the 2nd quarter. Amalgamated Bank now owns 6,727 shares of the company’s stock worth $106,000 after buying an additional 1,458 shares during the period. Institutional investors and hedge funds own 75.70% of the company’s stock.

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.