Oscar Health (NYSE:OSCR) Trading Up 8.3% – Here’s What Happened

Oscar Health, Inc. (NYSE:OSCR) shares shot up 8.3% during mid-day trading on Thursday . The company traded as high as $17.99 and last traded at $18.0790. 7,062,102 shares traded hands during trading, a decline of 19% from the average session volume of 8,713,277 shares. The stock had previously closed at $16.69.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on OSCR. Wall Street Zen cut shares of Oscar Health from a “hold” rating to a “sell” rating in a research note on Saturday, December 6th. Barclays set a $18.00 price objective on Oscar Health and gave the company an “equal weight” rating in a research note on Monday, January 5th. Zacks Research raised Oscar Health from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. UBS Group upgraded Oscar Health from a “sell” rating to a “neutral” rating and upped their price target for the stock from $12.00 to $17.00 in a research note on Friday, January 9th. Finally, Piper Sandler upgraded shares of Oscar Health from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $13.00 to $25.00 in a research report on Tuesday, November 25th. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $17.00.

Oscar Health Trading Up 5.2%

The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.67. The company has a market cap of $4.65 billion, a price-to-earnings ratio of -15.65 and a beta of 1.90. The business has a fifty day simple moving average of $15.80 and a 200 day simple moving average of $16.88.

Oscar Health (NYSE:OSCR) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.53) EPS for the quarter, beating the consensus estimate of ($0.55) by $0.02. The firm had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $3.09 billion. Oscar Health had a negative net margin of 2.16% and a negative return on equity of 21.50%. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter last year, the business earned ($0.22) earnings per share. On average, equities analysts anticipate that Oscar Health, Inc. will post 0.69 EPS for the current fiscal year.

Insider Transactions at Oscar Health

In related news, insider Janet Liang sold 7,338 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $16.59, for a total value of $121,737.42. Following the completion of the transaction, the insider directly owned 172,527 shares of the company’s stock, valued at $2,862,222.93. This trade represents a 4.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Richard Scott Blackley sold 25,135 shares of Oscar Health stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $16.59, for a total value of $416,989.65. Following the transaction, the chief financial officer directly owned 1,351,034 shares of the company’s stock, valued at approximately $22,413,654.06. This represents a 1.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 483,307 shares of company stock worth $7,635,300 over the last quarter. Insiders own 24.39% of the company’s stock.

Institutional Investors Weigh In On Oscar Health

Large investors have recently added to or reduced their stakes in the business. LRI Investments LLC raised its position in Oscar Health by 377.9% during the second quarter. LRI Investments LLC now owns 1,233 shares of the company’s stock worth $26,000 after acquiring an additional 975 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Oscar Health by 4,420.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,311 shares of the company’s stock worth $25,000 after purchasing an additional 1,282 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new stake in Oscar Health in the 2nd quarter valued at approximately $33,000. Quarry LP grew its holdings in Oscar Health by 439.8% during the 3rd quarter. Quarry LP now owns 1,803 shares of the company’s stock valued at $34,000 after buying an additional 1,469 shares during the last quarter. Finally, Tsfg LLC purchased a new position in Oscar Health during the third quarter worth $38,000. 75.70% of the stock is owned by institutional investors and hedge funds.

Oscar Health Company Profile

Oscar Health, trading on the New York Stock Exchange under the ticker OSCR, is a technology-driven health insurance company headquartered in New York, New York. Founded in 2012 by Mario Schlosser, Joshua Kushner and Kevin Nazemi, the company was built with the goal of simplifying healthcare coverage and enhancing member experience. Oscar leverages a proprietary digital platform to streamline plan enrollment, claims administration and member support, distinguishing itself in the individual, family and small group insurance markets.

The company’s primary products include on-exchange individual and family medical plans under the Affordable Care Act, off-exchange plans, as well as Medicare Advantage offerings.