Oscar Health (NYSE:OSCR) Shares Down 5.1% – Here’s Why

Oscar Health, Inc. (NYSE:OSCR) was down 5.1% on Wednesday . The company traded as low as $14.97 and last traded at $15.1060. Approximately 4,386,682 shares were traded during trading, a decline of 50% from the average daily volume of 8,734,308 shares. The stock had previously closed at $15.92.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on OSCR. Wall Street Zen cut Oscar Health from a “hold” rating to a “sell” rating in a research report on Saturday, December 6th. The Goldman Sachs Group initiated coverage on Oscar Health in a research note on Tuesday, October 14th. They set a “neutral” rating and a $17.00 price objective for the company. Wells Fargo & Company lowered their price objective on Oscar Health from $14.00 to $11.00 and set an “underweight” rating for the company in a research note on Thursday, November 13th. Zacks Research raised Oscar Health from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Finally, UBS Group upgraded Oscar Health from a “sell” rating to a “neutral” rating and raised their price target for the company from $12.00 to $17.00 in a report on Friday, January 9th. One research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $17.00.

Oscar Health Stock Performance

The company has a market capitalization of $4.05 billion, a PE ratio of -13.72 and a beta of 1.90. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.67. The business’s fifty day moving average is $15.85 and its two-hundred day moving average is $16.83.

Oscar Health (NYSE:OSCR) last posted its earnings results on Thursday, November 6th. The company reported ($0.53) EPS for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.02. Oscar Health had a negative return on equity of 21.50% and a negative net margin of 2.16%.The business had revenue of $2.93 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same quarter last year, the company earned ($0.22) EPS. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. Equities research analysts predict that Oscar Health, Inc. will post 0.69 earnings per share for the current year.

Insiders Place Their Bets

In other Oscar Health news, insider Mario Schlosser sold 23,038 shares of the business’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $17.65, for a total value of $406,620.70. Following the completion of the transaction, the insider owned 350,180 shares of the company’s stock, valued at approximately $6,180,677. The trade was a 6.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Janet Liang sold 7,338 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $16.59, for a total transaction of $121,737.42. Following the sale, the insider directly owned 172,527 shares in the company, valued at approximately $2,862,222.93. The trade was a 4.08% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 483,307 shares of company stock valued at $7,635,300 over the last quarter. Corporate insiders own 25.11% of the company’s stock.

Institutional Investors Weigh In On Oscar Health

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Straightline Group LLC lifted its holdings in shares of Oscar Health by 3.7% during the 2nd quarter. Straightline Group LLC now owns 18,082 shares of the company’s stock valued at $388,000 after buying an additional 640 shares during the period. Wealthspire Advisors LLC increased its position in Oscar Health by 6.7% during the second quarter. Wealthspire Advisors LLC now owns 11,117 shares of the company’s stock valued at $238,000 after acquiring an additional 700 shares during the last quarter. OneDigital Investment Advisors LLC increased its position in Oscar Health by 0.6% during the third quarter. OneDigital Investment Advisors LLC now owns 138,271 shares of the company’s stock valued at $2,617,000 after acquiring an additional 779 shares during the last quarter. Focus Partners Wealth lifted its holdings in Oscar Health by 1.4% in the third quarter. Focus Partners Wealth now owns 57,787 shares of the company’s stock valued at $1,094,000 after acquiring an additional 824 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in Oscar Health by 14.4% in the second quarter. PNC Financial Services Group Inc. now owns 7,140 shares of the company’s stock worth $153,000 after purchasing an additional 900 shares during the last quarter. Hedge funds and other institutional investors own 75.70% of the company’s stock.

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.