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

Oscar Health, Inc. (NYSE:OSCR) shares traded up 6.7% on Thursday . The company traded as high as $14.32 and last traded at $14.30. 1,163,513 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 3,475,479 shares. The stock had previously closed at $13.40.

Wall Street Analyst Weigh In

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

Oscar Health Trading Down 2.7 %

The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.26. The stock has a market cap of $3.41 billion, a price-to-earnings ratio of -229.96 and a beta of 1.63. The company has a fifty day simple moving average of $15.54 and a 200-day simple moving average of $17.21.

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

Insider Transactions at Oscar Health

In related news, Vice Chairman Joshua Kushner purchased 276,040 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was acquired at an average cost of $13.58 per share, for a total transaction of $3,748,623.20. Following the completion of the acquisition, the insider now owns 5,031,262 shares in the company, valued at $68,324,537.96. This trade represents a 5.80 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thrive Partners Vii Growth Gp, acquired 420,819 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were bought at an average cost of $13.68 per share, for a total transaction of $5,756,803.92. Following the completion of the transaction, the director now directly owns 5,452,081 shares of the company’s stock, valued at $74,584,468.08. This represents a 8.36 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 1,055,478 shares of company stock valued at $14,432,852 and sold 103,610 shares valued at $1,847,519. 25.11% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Oscar Health

A number of hedge funds have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC grew its stake in Oscar Health by 7.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 12,028 shares of the company’s stock valued at $255,000 after purchasing an additional 844 shares in the last quarter. Summit Trail Advisors LLC grew its stake in shares of Oscar Health by 5.4% in the 2nd quarter. Summit Trail Advisors LLC now owns 20,820 shares of the company’s stock valued at $329,000 after buying an additional 1,065 shares in the last quarter. KBC Group NV increased its holdings in Oscar Health by 41.2% in the third quarter. KBC Group NV now owns 4,552 shares of the company’s stock worth $97,000 after buying an additional 1,328 shares during the last quarter. Arizona State Retirement System increased its holdings in Oscar Health by 3.7% in the second quarter. Arizona State Retirement System now owns 38,059 shares of the company’s stock worth $602,000 after buying an additional 1,351 shares during the last quarter. Finally, Amalgamated Bank raised its position in Oscar Health by 27.7% during the second quarter. Amalgamated Bank now owns 6,727 shares of the company’s stock valued at $106,000 after acquiring an additional 1,458 shares in the last quarter. 75.70% of the stock is owned by institutional investors and hedge funds.

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.