Oscar Health (NYSE:OSCR) Shares Up 6.2% – What’s Next?

Oscar Health, Inc. (NYSE:OSCR) rose 6.2% on Monday . The company traded as high as $18.46 and last traded at $18.41. Approximately 1,394,012 shares traded hands during trading, a decline of 59% from the average daily volume of 3,397,499 shares. The stock had previously closed at $17.33.

Wall Street Analyst Weigh In

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

Oscar Health Stock Performance

The firm’s 50-day simple moving average is $17.25 and its two-hundred day simple moving average is $17.97. The company has a market cap of $4.45 billion, a PE ratio of -299.78 and a beta of 1.63. 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 earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.02). The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.33 billion. Oscar Health had a net margin of 0.35% and a return on equity of 2.79%. The company’s revenue for the quarter was up 68.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.29) earnings per share. As a group, research analysts anticipate that Oscar Health, Inc. will post -0.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Victoria Baltrus sold 8,078 shares of Oscar Health stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $18.08, for a total value of $146,050.24. Following the sale, the chief accounting officer now directly owns 146,036 shares in the company, valued at approximately $2,640,330.88. The trade was a 5.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Thrive Partners Vii Growth Gp, purchased 420,819 shares of the 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 purchase, the director now directly owns 5,452,081 shares of the company’s stock, valued at approximately $74,584,468.08. The trade was a 8.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 1,055,478 shares of company stock worth $14,432,852 and sold 150,360 shares worth $2,645,074. Insiders own 25.11% of the company’s stock.

Institutional Investors Weigh In On Oscar Health

Several hedge funds and other institutional investors have recently made changes to their positions in OSCR. State Street Corp grew its holdings in Oscar Health by 6.0% in the 3rd quarter. State Street Corp now owns 5,132,802 shares of the company’s stock valued at $108,867,000 after buying an additional 291,335 shares in the last quarter. Geode Capital Management LLC raised its stake in Oscar Health by 11.7% during the third quarter. Geode Capital Management LLC now owns 4,339,640 shares of the company’s stock worth $92,062,000 after purchasing an additional 455,205 shares during the period. Renaissance Technologies LLC grew its stake in shares of Oscar Health by 31.7% in the 2nd quarter. Renaissance Technologies LLC now owns 3,886,100 shares of the company’s stock valued at $61,478,000 after buying an additional 934,600 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of 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 buying an additional 507,009 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Oscar Health by 20.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,600,166 shares of the company’s stock valued at $33,940,000 after acquiring an additional 270,223 shares during the last quarter. Institutional investors and hedge funds own 75.70% of the company’s stock.

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.