Oscar Health (NYSE:OSCR) Posts Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Oscar Health (NYSE:OSCR) issued its quarterly earnings data on Thursday. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.02), Briefing.com reports. The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.33 billion. Oscar Health had a return on equity of 1.86% and a net margin of 0.25%. The company’s quarterly revenue was up 68.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.29) EPS. Oscar Health updated its FY 2024 guidance to EPS.

Oscar Health Trading Down 0.7 %

Oscar Health stock traded down $0.10 during mid-day trading on Friday, hitting $13.54. The company’s stock had a trading volume of 4,241,736 shares, compared to its average volume of 3,318,074. The business has a 50 day moving average price of $18.63 and a 200-day moving average price of $18.39. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.91 and a quick ratio of 0.91. Oscar Health has a 12 month low of $6.61 and a 12 month high of $23.79. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of -104.15, a price-to-earnings-growth ratio of 35.84 and a beta of 1.67.

Insider Activity

In related news, CAO Victoria Baltrus sold 4,226 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $17.99, for a total transaction of $76,025.74. Following the completion of the sale, the chief accounting officer now directly owns 140,648 shares in the company, valued at $2,530,257.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CAO Victoria Baltrus sold 4,226 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $17.99, for a total transaction of $76,025.74. Following the completion of the sale, the chief accounting officer now directly owns 140,648 shares in the company, valued at $2,530,257.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Steven Wolin sold 10,242 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $17.99, for a total transaction of $184,253.58. Following the completion of the sale, the chief operating officer now directly owns 93,051 shares in the company, valued at approximately $1,673,987.49. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 169,569 shares of company stock valued at $3,007,069. 25.11% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

OSCR has been the topic of several research analyst reports. UBS Group initiated coverage on shares of Oscar Health in a research report on Monday, October 7th. They issued a “neutral” rating and a $23.00 price objective on the stock. Piper Sandler restated an “overweight” rating and set a $28.00 price objective on shares of Oscar Health in a research report on Tuesday, September 10th. Finally, Bank of America lowered shares of Oscar Health from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $21.00 to $13.50 in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.93.

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.