Oscar Health (NYSE:OSCR) Shares Gap Down – What’s Next?

Oscar Health, Inc. (NYSE:OSCR)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $16.55, but opened at $15.69. Oscar Health shares last traded at $15.69, with a volume of 692,031 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on OSCR. UBS Group began coverage on shares of Oscar Health in a research report on Monday, October 7th. They set a “neutral” rating and a $23.00 target price on the stock. Jefferies Financial Group initiated coverage on shares of Oscar Health in a research report on Tuesday. They set an “underperform” rating and a $12.00 price objective for the company. Bank of America downgraded shares of Oscar Health from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $21.00 to $13.50 in a report on Wednesday, November 6th. Finally, Piper Sandler reissued an “overweight” rating and set a $28.00 price target on shares of Oscar Health in a report on Tuesday, September 10th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Oscar Health currently has a consensus rating of “Hold” and an average target price of $21.56.

Oscar Health Stock Performance

The stock’s 50-day moving average price is $16.80 and its 200-day moving average price is $17.77. The company has a market capitalization of $3.92 billion, a price-to-earnings ratio of -259.17 and a beta of 1.64. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.73 and a current ratio of 0.73.

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

Insider Buying and Selling

In related news, Director Thrive Partners Vii Growth Gp, purchased 420,819 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was bought at an average price of $13.68 per share, with a total value of $5,756,803.92. Following the completion of the transaction, the director now owns 5,452,081 shares of the company’s stock, valued at approximately $74,584,468.08. This represents a 8.36 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Joshua Kushner purchased 276,040 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was bought at an average cost of $13.58 per share, with a total value of $3,748,623.20. Following the completion of the acquisition, the insider now owns 5,031,262 shares of the company’s stock, valued at approximately $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 three months, 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.

Institutional Investors Weigh In On Oscar Health

Several hedge funds have recently modified their holdings of OSCR. Westfield Capital Management Co. LP acquired a new stake in shares of Oscar Health during the third quarter worth $27,452,000. Renaissance Technologies LLC lifted its position in Oscar Health by 31.7% during the second quarter. Renaissance Technologies LLC now owns 3,886,100 shares of the company’s stock worth $61,478,000 after buying an additional 934,600 shares during the period. Point72 Asset Management L.P. acquired a new stake in Oscar Health in the 2nd quarter worth about $14,716,000. Bank of New York Mellon Corp grew its holdings in Oscar Health by 161.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,393,048 shares of the company’s stock valued at $22,038,000 after buying an additional 860,226 shares during the period. Finally, Soros Fund Management LLC acquired a new position in shares of Oscar Health during the 3rd quarter valued at about $12,726,000. 75.70% of the stock is owned by institutional investors and hedge funds.

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.