Oscar Health (NYSE:OSCR) Posts Quarterly Earnings Results, Misses Estimates By $0.40 EPS

by · The Markets Daily

Oscar Health (NYSE:OSCR – Get Free Report) issued its earnings results on Tuesday. The company reported ($1.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.40), FiscalAI reports. Oscar Health had a negative return on equity of 21.50% and a negative net margin of 2.16%.The business had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $3.12 billion.

Oscar Health Price Performance

Shares of Oscar Health stock opened at $12.69 on Tuesday. The business has a 50 day moving average of $15.52 and a 200 day moving average of $16.75. Oscar Health has a 52 week low of $11.20 and a 52 week high of $23.80. The company has a market cap of $3.36 billion, a PE ratio of -11.33 and a beta of 1.90. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.67.

Insider Activity at Oscar Health

In other Oscar Health news, insider Adam Mcananey sold 1,852 shares of Oscar Health 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 $30,724.68. Following the sale, the insider directly owned 179,241 shares of the company’s stock, valued at approximately $2,973,608.19. The trade was a 1.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Richard Scott Blackley sold 25,135 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $16.59, for a total value 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 $22,413,654.06. This represents a 1.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 197,125 shares of company stock valued at $3,265,300 in the last 90 days. 25.11% of the stock is owned by company insiders.

Institutional Investors Weigh In On Oscar Health

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OSCR. Quarry LP lifted its position in Oscar Health by 439.8% during the third quarter. Quarry LP now owns 1,803 shares of the company’s stock valued at $34,000 after buying an additional 1,469 shares during the period. Jones Financial Companies Lllp grew its position in shares of Oscar Health by 7,473.3% in the 1st quarter. Jones Financial Companies Lllp now owns 2,272 shares of the company’s stock worth $30,000 after buying an additional 2,242 shares during the period. Strs Ohio bought a new position in shares of Oscar Health in the 1st quarter worth about $30,000. Binnacle Investments Inc purchased a new position in Oscar Health during the 2nd quarter valued at about $75,000. Finally, National Bank of Canada FI purchased a new position in Oscar Health during the 3rd quarter valued at about $81,000. 75.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

OSCR has been the topic of several analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Oscar Health in a report on Thursday, January 22nd. 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 research note on Thursday, November 13th. Barclays set a $18.00 price objective on Oscar Health and gave the company an “equal weight” rating in a research report on Monday, January 5th. Piper Sandler upgraded shares of Oscar Health from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $13.00 to $25.00 in a report on Tuesday, November 25th. Finally, UBS Group raised shares of Oscar Health from a “sell” rating to a “neutral” rating and increased their price target for the company from $12.00 to $17.00 in a research report on Friday, January 9th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $17.00.

Check Out Our Latest Stock Analysis on OSCR

Oscar Health Company Profile

(Get Free Report)

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.

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