Oscar Health (NYSE:OSCR) Shares Down 4.5% – Here’s Why

Oscar Health, Inc. (NYSE:OSCR) traded down 4.5% during mid-day trading on Monday . The company traded as low as $13.16 and last traded at $13.46. Approximately 733,851 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 3,486,025 shares. The stock had previously closed at $14.09.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. UBS Group began coverage on shares of Oscar Health in a report on Monday, October 7th. They set a “neutral” rating and a $23.00 price objective on the stock. Jefferies Financial Group assumed coverage on Oscar Health in a report on Tuesday, December 10th. They issued an “underperform” rating and a $12.00 price objective on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $28.00 target price on shares of Oscar Health in a report on Tuesday, September 10th. Finally, Bank of America lowered shares of Oscar Health from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $21.00 to $13.50 in a research report on Wednesday, November 6th. Two equities research 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 data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $21.56.

Oscar Health Stock Performance

The business’s 50-day simple moving average is $15.89 and its two-hundred day simple moving average is $17.39. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.26. The firm has a market cap of $3.35 billion, a price-to-earnings ratio of -225.96 and a beta of 1.63.

Oscar Health (NYSE:OSCR) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.02). Oscar Health had a return on equity of 2.79% and a net margin of 0.35%. The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.33 billion. During the same period in the previous year, the company posted ($0.29) EPS. The business’s revenue for the quarter was up 68.3% compared to the same quarter last year. As a group, sell-side analysts expect that Oscar Health, Inc. will post -0.01 earnings per share for the current fiscal year.

Insider Activity

In other Oscar Health news, CAO Victoria Baltrus sold 8,078 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $18.08, for a total value of $146,050.24. Following the transaction, the chief accounting officer now owns 146,036 shares in the company, valued at approximately $2,640,330.88. This trade represents a 5.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Vice Chairman Joshua Kushner bought 276,040 shares of the stock in a transaction on Monday, November 11th. The shares were acquired at an average cost of $13.58 per share, for a total transaction of $3,748,623.20. Following the purchase, the insider now owns 5,031,262 shares in the company, valued at $68,324,537.96. The trade was a 5.80 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 1,055,478 shares of company stock worth $14,432,852 and have sold 103,610 shares worth $1,847,519. Insiders own 25.11% of the company’s stock.

Hedge Funds Weigh In On Oscar Health

Several hedge funds and other institutional investors have recently modified their holdings of the business. Neo Ivy Capital Management acquired a new stake in shares of Oscar Health in the third quarter valued at approximately $600,000. Geode Capital Management LLC increased its stake in shares of Oscar Health by 11.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,339,640 shares of the company’s stock worth $92,062,000 after acquiring an additional 455,205 shares during the last quarter. Barclays PLC raised its holdings in shares of Oscar Health by 217.5% during the 3rd quarter. Barclays PLC now owns 325,818 shares of the company’s stock worth $6,911,000 after acquiring an additional 223,189 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of Oscar Health during the 3rd quarter valued at about $2,764,000. Finally, Soros Fund Management LLC purchased a new stake in shares of Oscar Health in the third quarter valued at about $12,726,000. 75.70% of the stock is owned by hedge funds and other institutional investors.

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.