Oscar Health (NYSE:OSCR) Posts Earnings Results

Oscar Health (NYSE:OSCR) announced its earnings results on Thursday. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.02), Briefing.com reports. Oscar Health had a net margin of 0.25% and a return on equity of 1.86%. The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same period in the previous year, the company earned ($0.29) EPS. Oscar Health’s revenue was up 68.3% compared to the same quarter last year. Oscar Health updated its FY 2024 guidance to EPS.

Oscar Health Stock Performance

Shares of OSCR traded down $0.10 during mid-day trading on Friday, reaching $13.54. 4,238,641 shares of the company’s stock traded hands, compared to its average volume of 3,318,060. Oscar Health has a 12 month low of $6.61 and a 12 month high of $23.79. The stock has a market capitalization of $3.28 billion, a P/E ratio of -104.15, a price-to-earnings-growth ratio of 35.84 and a beta of 1.67. The business’s 50-day moving average price is $18.63 and its 200-day moving average price is $18.39. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.91 and a current ratio of 0.91.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Piper Sandler reissued an “overweight” rating and set a $28.00 target price on shares of Oscar Health in a research note on Tuesday, September 10th. 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. Finally, Bank of America downgraded Oscar Health from a “neutral” rating to an “underperform” rating and cut their price target for the company from $21.00 to $13.50 in a report on Wednesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.93.

Insider Buying and Selling

In other news, CFO Richard Scott Blackley sold 68,978 shares of the business’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 $1,240,914.22. Following the transaction, the chief financial officer now directly owns 884,213 shares in the company, valued at $15,906,991.87. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Alessandrea C. Quane sold 16,793 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $17.06, for a total transaction of $286,488.58. Following the completion of the transaction, the executive vice president now owns 392,607 shares of the company’s stock, valued at approximately $6,697,875.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Richard Scott Blackley sold 68,978 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $17.99, for a total transaction of $1,240,914.22. Following the completion of the sale, the chief financial officer now directly owns 884,213 shares in the company, valued at approximately $15,906,991.87. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 169,569 shares of company stock valued at $3,007,069 over the last quarter. Corporate insiders own 25.11% 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.