Oscar Health (NYSE:OSCR) Reaches New 52-Week High – Here’s Why

Oscar Health, Inc. (NYSE:OSCR)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $30.66 and last traded at $29.53, with a volume of 1130498 shares changing hands. The stock had previously closed at $29.79.

Analysts Set New Price Targets

A number of research firms have recently weighed in on OSCR. Barclays raised shares of Oscar Health from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $30.00 to $35.00 in a research report on Wednesday, June 10th. Wall Street Zen raised shares of Oscar Health from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 14th. Robert W. Baird upped their price objective on shares of Oscar Health from $15.00 to $19.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Wells Fargo & Company set a $20.00 target price on shares of Oscar Health and gave the company an “equal weight” rating in a research note on Thursday, June 4th. Finally, Jefferies Financial Group upgraded shares of Oscar Health from an “underperform” rating to a “hold” rating and lifted their target price for the company from $10.00 to $16.00 in a report on Monday, April 20th. Three research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $20.78.

Oscar Health Stock Down 2.1%

The company has a market capitalization of $8.79 billion, a PE ratio of -49.42, a P/E/G ratio of 2.08 and a beta of 2.37. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.11 and a current ratio of 1.11. The company’s 50-day moving average is $23.03 and its 200 day moving average is $17.37.

Oscar Health (NYSE:OSCR) last issued its earnings results on Wednesday, May 6th. The company reported $2.07 earnings per share (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 analysts’ expectations of $4.90 billion. During the same period in the previous year, the company earned $0.92 earnings per share. The business’s revenue for the quarter was up 52.6% compared to the same quarter last year. As a group, analysts anticipate that Oscar Health, Inc. will post 0.47 EPS for the current year.

Insider Buying and Selling

In other Oscar Health news, insider Adam Mcananey sold 9,859 shares of Oscar Health stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $21.94, for a total value of $216,306.46. Following the completion of the sale, the insider owned 218,096 shares of the company’s stock, valued at approximately $4,785,026.24. This trade represents a 4.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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. Also, CEO Mark T. Bertolini purchased 1,000,000 shares of the firm’s stock in a transaction dated Monday, April 6th. The stock was acquired at an average price of $11.92 per share, with a total value of $11,920,000.00. Following the purchase, the chief executive officer directly owned 10,196,876 shares of the company’s stock, valued at approximately $121,546,761.92. The trade was a 10.87% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold 1,217,160 shares of company stock worth $34,471,090 over the last 90 days. 25.11% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Oscar Health

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Oscar Health by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 20,701,250 shares of the company’s stock worth $297,477,000 after acquiring an additional 540,851 shares during the period. Geode Capital Management LLC boosted its holdings in Oscar Health by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 4,798,313 shares of the company’s stock worth $68,964,000 after purchasing an additional 116,430 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in Oscar Health by 1,097.8% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 237,882 shares of the company’s stock worth $3,418,000 after purchasing an additional 218,022 shares during the last quarter. BIT Capital GmbH grew its position in Oscar Health by 545.0% in the 4th quarter. BIT Capital GmbH now owns 6,186,267 shares of the company’s stock worth $88,897,000 after purchasing an additional 5,227,152 shares during the period. Finally, Farallon Capital Management LLC raised its stake in Oscar Health by 146.5% during the 3rd quarter. Farallon Capital Management LLC now owns 3,639,000 shares of the company’s stock valued at $68,886,000 after buying an additional 2,163,000 shares during the last quarter. 75.70% of the stock is owned by hedge funds and other 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.