Oscar Health (NYSE:OSCR) Reaches New 52-Week High – Should You Buy?

Oscar Health, Inc. (NYSE:OSCR)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $29.81 and last traded at $29.20, with a volume of 710935 shares traded. The stock had previously closed at $29.14.

Analysts Set New Price Targets

Several research firms have weighed in on OSCR. Barclays upgraded Oscar Health from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $30.00 to $35.00 in a report on Wednesday, June 10th. Jefferies Financial Group raised Oscar Health from an “underperform” rating to a “hold” rating and increased their price objective for the company from $10.00 to $16.00 in a report on Monday, April 20th. Wall Street Zen upgraded Oscar Health from a “buy” rating to a “strong-buy” rating in a report on Sunday. Weiss Ratings raised Oscar Health from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, June 9th. Finally, Zacks Research downgraded Oscar Health from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. Three equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $20.78.

Oscar Health Price Performance

The company has a market capitalization of $8.81 billion, a P/E ratio of -49.54, a PEG ratio of 1.98 and a beta of 2.37. The stock’s fifty day simple moving average is $20.39 and its 200-day simple moving average is $16.63. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.11 and a quick ratio of 1.11.

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

Insider Buying and Selling at Oscar Health

In related news, CEO Mark T. Bertolini bought 1,000,000 shares of the business’s stock in a transaction that occurred on Monday, April 6th. The stock was purchased at an average cost of $11.92 per share, for a total transaction of $11,920,000.00. Following the purchase, the chief executive officer directly owned 10,196,876 shares in the company, 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mario Schlosser sold 34,120 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $21.94, for a total transaction of $748,592.80. Following the completion of the sale, the director directly owned 480,866 shares of the company’s stock, valued at approximately $10,550,200.04. This trade represents a 6.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 189,660 shares of company stock valued at $4,283,140 in the last three months. 25.11% of the stock is owned by insiders.

Institutional Trading of Oscar Health

A number of institutional investors and hedge funds have recently modified their holdings of OSCR. Quarry LP raised its stake in shares of Oscar Health by 439.8% in the third quarter. Quarry LP now owns 1,803 shares of the company’s stock valued at $34,000 after purchasing an additional 1,469 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in Oscar Health by 7,473.3% during the first quarter. Jones Financial Companies Lllp now owns 2,272 shares of the company’s stock worth $30,000 after buying an additional 2,242 shares in the last quarter. Strs Ohio bought a new stake in Oscar Health in the 1st quarter valued at $30,000. Fifth Third Bancorp raised its stake in shares of Oscar Health by 148.7% in the 4th quarter. Fifth Third Bancorp now owns 2,363 shares of the company’s stock valued at $34,000 after buying an additional 1,413 shares in the last quarter. Finally, Binnacle Investments Inc bought a new position in shares of Oscar Health during the 2nd quarter worth about $75,000. 75.70% of the stock is currently owned by institutional investors.

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.