Oscar Health (NYSE:OSCR) Shares Up 9.4% – Time to Buy?
by Renee Jackson · The Cerbat GemShares of Oscar Health, Inc. (NYSE:OSCR – Get Free Report) traded up 9.4% during mid-day trading on Monday . The company traded as high as $16.21 and last traded at $16.3830. 2,621,389 shares changed hands during trading, a decline of 29% from the average session volume of 3,718,096 shares. The stock had previously closed at $14.97.
Analyst Ratings Changes
Several research firms recently weighed in on OSCR. Wells Fargo & Company decreased their price target on Oscar Health from $14.00 to $11.00 and set an “underweight” rating on the stock in a report on Thursday, November 13th. Zacks Research upgraded Oscar Health from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Stephens initiated coverage on shares of Oscar Health in a research report on Thursday, December 11th. They set an “equal weight” rating and a $17.00 price target on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Oscar Health in a research report on Wednesday, October 8th. Finally, Barclays set a $18.00 price objective on Oscar Health and gave the company an “equal weight” rating in a research note on Monday. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $16.29.
Get Our Latest Analysis on OSCR
Oscar Health Stock Performance
The firm has a market cap of $4.47 billion, a price-to-earnings ratio of -15.05 and a beta of 1.90. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.67. The firm’s fifty day moving average price is $16.00 and its 200-day moving average price is $17.03.
Oscar Health (NYSE:OSCR – Get Free Report) last announced its earnings results on Thursday, November 6th. The company reported ($0.53) earnings per share for the quarter, beating the consensus estimate of ($0.55) by $0.02. The company had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $3.09 billion. Oscar Health had a negative return on equity of 21.50% and a negative net margin of 2.16%.The company’s revenue was up 23.2% on a year-over-year basis. During the same period last year, the business posted ($0.22) EPS. Analysts expect that Oscar Health, Inc. will post 0.69 earnings per share for the current year.
Insider Buying and Selling
In other news, CFO Richard Scott Blackley sold 25,135 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $16.59, for a total transaction of $416,989.65. Following the completion of the transaction, the chief financial officer directly owned 1,351,034 shares of the company’s stock, valued at approximately $22,413,654.06. This represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Janet Liang sold 7,338 shares of the stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $16.59, for a total value of $121,737.42. Following the completion of the sale, the insider directly owned 172,527 shares in the company, valued at $2,862,222.93. This represents a 4.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 383,307 shares of company stock valued at $5,919,555. 25.11% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Oscar Health
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. lifted its position in shares of Oscar Health by 200.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 30,210 shares of the company’s stock valued at $648,000 after acquiring an additional 20,171 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Oscar Health by 89.7% in the first quarter. NewEdge Advisors LLC now owns 188,058 shares of the company’s stock valued at $2,465,000 after purchasing an additional 88,946 shares in the last quarter. Matauro LLC acquired a new stake in shares of Oscar Health in the second quarter worth $1,508,000. Kingswood Wealth Advisors LLC acquired a new position in Oscar Health during the second quarter valued at $576,000. Finally, Lane Generational LLC acquired a new position in shares of Oscar Health in the 2nd quarter valued at about $4,800,000. 75.70% of the stock is owned by institutional investors.
Oscar Health Company Profile
Oscar Health, trading on the New York Stock Exchange under the ticker OSCR, is a technology-driven health insurance company headquartered in New York, New York. Founded in 2012 by Mario Schlosser, Joshua Kushner and Kevin Nazemi, the company was built with the goal of simplifying healthcare coverage and enhancing member experience. Oscar leverages a proprietary digital platform to streamline plan enrollment, claims administration and member support, distinguishing itself in the individual, family and small group insurance markets.
The company’s primary products include on-exchange individual and family medical plans under the Affordable Care Act, off-exchange plans, as well as Medicare Advantage offerings.