Oscar Health (NYSE:OSCR) Trading Up 6.7% – Here’s What Happened

Oscar Health, Inc. (NYSE:OSCR) shot up 6.7% during mid-day trading on Thursday . The stock traded as high as $17.04 and last traded at $17.01. 1,786,954 shares changed hands during mid-day trading, a decline of 44% from the average session volume of 3,194,686 shares. The stock had previously closed at $15.94.

Wall Street Analyst Weigh In

Several research firms recently issued reports on OSCR. UBS Group began coverage on Oscar Health in a research note on Monday, October 7th. They issued a “neutral” rating and a $23.00 target price on the stock. Piper Sandler reissued an “overweight” rating and issued a $28.00 target price on shares of Oscar Health in a research note on Tuesday, September 10th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $24.00.

Oscar Health Stock Down 5.9 %

The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.26. The company’s fifty day simple moving average is $18.80 and its 200 day simple moving average is $18.32. The firm has a market capitalization of $3.84 billion, a PE ratio of -40.48, a price-to-earnings-growth ratio of 31.76 and a beta of 1.62.

Oscar Health (NYSE:OSCR) last released its earnings results on Wednesday, August 7th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.04. Oscar Health had a net margin of 0.25% and a return on equity of 1.86%. The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period last year, the business earned ($0.07) earnings per share. The business’s revenue was up 44.6% on a year-over-year basis. Analysts anticipate that Oscar Health, Inc. will post 0.01 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Mario Schlosser sold 3,198 shares of Oscar Health stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $17.99, for a total transaction of $57,532.02. Following the completion of the transaction, the insider now directly owns 76,982 shares in the company, valued at approximately $1,384,906.18. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Alessandrea C. Quane sold 16,793 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $17.06, for a total value of $286,488.58. Following the completion of the transaction, the executive vice president now directly owns 392,607 shares in the company, valued at $6,697,875.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mario Schlosser sold 3,198 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $17.99, for a total transaction of $57,532.02. Following the completion of the transaction, the insider now owns 76,982 shares of the company’s stock, valued at approximately $1,384,906.18. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 169,569 shares of company stock worth $3,007,069. Insiders own 25.11% of the company’s stock.

Hedge Funds Weigh In On Oscar Health

Hedge funds have recently added to or reduced their stakes in the company. Avalon Trust Co purchased a new position in Oscar Health in the 1st quarter worth approximately $69,000. Point72 Hong Kong Ltd bought a new stake in Oscar Health in the 2nd quarter worth approximately $78,000. Quest Partners LLC bought a new stake in Oscar Health in the 2nd quarter worth approximately $93,000. Optimum Investment Advisors bought a new stake in Oscar Health in the 3rd quarter worth approximately $142,000. Finally, Amalgamated Bank grew its position in Oscar Health by 27.7% in the 2nd quarter. Amalgamated Bank now owns 6,727 shares of the company’s stock worth $106,000 after purchasing an additional 1,458 shares during the period. 75.70% of the stock is currently owned by hedge funds and other institutional investors.

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.