Oscar Health (NYSE:OSCR) Reaches New 52-Week High – What’s Next?

Oscar Health, Inc. (NYSE:OSCR)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $24.28 and last traded at $23.71, with a volume of 2677908 shares traded. The stock had previously closed at $23.73.

Wall Street Analysts Forecast Growth

OSCR has been the topic of a number of analyst reports. Raymond James Financial raised Oscar Health from a “market perform” rating to an “outperform” rating and set a $18.00 price target on the stock in a research note on Thursday, February 12th. Zacks Research raised shares of Oscar Health from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Barclays raised their price target on shares of Oscar Health from $18.00 to $21.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. UBS Group raised their price target on shares of Oscar Health from $15.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Finally, Wall Street Zen raised shares of Oscar Health from a “hold” rating to a “strong-buy” rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $18.22.

Oscar Health Trading Up 0.9%

The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.26. The firm has a fifty day simple moving average of $14.96 and a two-hundred day simple moving average of $15.32. The firm has a market cap of $7.13 billion, a PE ratio of -40.65, a PEG ratio of 1.54 and a beta of 2.34.

Oscar Health (NYSE:OSCR) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $2.07 EPS for the quarter, topping the consensus estimate of $1.11 by $0.96. Oscar Health had a negative net margin of 0.30% and a negative return on equity of 3.26%. The business had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.90 billion. During the same period in the prior year, the business earned $0.92 EPS. The company’s revenue for the quarter was up 52.6% on a year-over-year basis. Equities analysts forecast that Oscar Health, Inc. will post 0.47 EPS for the current year.

Insider Buying and Selling

In related news, CEO Mark T. Bertolini acquired 1,000,000 shares of the firm’s stock in a transaction on Monday, April 6th. The stock was acquired at an average cost of $11.92 per share, for a total transaction of $11,920,000.00. Following the acquisition, the chief executive officer owned 10,196,876 shares of the company’s stock, valued at $121,546,761.92. This trade represents a 10.87% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 25.11% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Udine Wealth Management Inc. boosted its position in shares of Oscar Health by 138.4% during the third quarter. Udine Wealth Management Inc. now owns 146,555 shares of the company’s stock valued at $2,774,000 after purchasing an additional 85,083 shares in the last quarter. Q Fund Management Hong Kong Ltd bought a new stake in shares of Oscar Health during the 3rd quarter valued at $5,940,000. State of Michigan Retirement System bought a new stake in shares of Oscar Health during the 3rd quarter valued at $27,448,000. Vanguard Group Inc. boosted its holdings in shares of Oscar Health by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 20,701,250 shares of the company’s stock valued at $297,477,000 after buying an additional 540,851 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in shares of Oscar Health by 1,097.8% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 237,882 shares of the company’s stock valued at $3,418,000 after buying an additional 218,022 shares in the last quarter. Hedge funds and other institutional investors own 75.70% of the company’s stock.

About Oscar Health

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.