Oscar Health (NYSE:OSCR) Shares Gap Down – Time to Sell?

Oscar Health, Inc. (NYSE:OSCR)’s share price gapped down before the market opened 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 trading hands.

Wall Street Analysts Forecast Growth

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

Oscar Health Stock Performance

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 $3.92 billion, a PE ratio of -259.17 and a beta of 1.64. The firm has a 50-day moving average price of $16.80 and a two-hundred day moving average price of $17.77.

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

Insider Buying and Selling at Oscar Health

In other Oscar Health news, CAO Victoria Baltrus sold 8,078 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $18.08, for a total transaction of $146,050.24. Following the transaction, the chief accounting officer now directly owns 146,036 shares in the company, valued at $2,640,330.88. This represents a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Steven Wolin sold 19,580 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $18.08, for a total value of $354,006.40. Following the transaction, the chief operating officer now owns 102,598 shares of the company’s stock, valued at $1,854,971.84. This trade represents a 16.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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. Company insiders own 25.11% of the company’s stock.

Institutional Trading of Oscar Health

A number of large investors have recently made changes to their positions in OSCR. Versor Investments LP purchased a new stake in Oscar Health during the 3rd quarter worth about $787,000. Janney Montgomery Scott LLC acquired a new stake in shares of Oscar Health during the 3rd quarter worth about $988,000. Algert Global LLC lifted its stake in Oscar Health by 63.3% during the third quarter. Algert Global LLC now owns 369,685 shares of the company’s stock worth $7,841,000 after purchasing an additional 143,346 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in Oscar Health by 30.3% during the third quarter. Point72 Asset Management L.P. now owns 1,212,096 shares of the company’s stock worth $25,709,000 after purchasing an additional 281,858 shares during the last quarter. Finally, Parkman Healthcare Partners LLC acquired a new position in Oscar Health in the third quarter valued at approximately $5,302,000. 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.