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

Oscar Health, Inc. (NYSE:OSCR)’s stock price hit a new 52-week high on Saturday . The company traded as high as $33.27 and last traded at $32.6790, with a volume of 6589261 shares traded. The stock had previously closed at $30.78.

Wall Street Analysts Forecast Growth

OSCR has been the topic of several research reports. Jefferies Financial Group raised shares of Oscar Health from an “underperform” rating to a “hold” rating and boosted their price target for the company from $10.00 to $16.00 in a research report on Monday, April 20th. Barclays raised their price objective on shares of Oscar Health from $35.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Weiss Ratings raised shares of Oscar Health from a “sell (d+)” rating to a “hold (c+)” rating in a report on Tuesday. Wolfe Research assumed coverage on Oscar Health in a research report on Tuesday, May 5th. They set a “peer perform” rating on the stock. Finally, Wells Fargo & Company increased their target price on Oscar Health from $20.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $26.22.

Oscar Health Stock Up 6.2%

The stock’s fifty day moving average is $29.65 and its two-hundred day moving average is $20.85. The company has a current ratio of 1.09, a quick ratio of 1.11 and a debt-to-equity ratio of 0.21. The firm has a market cap of $10.09 billion, a P/E ratio of 23.34, a price-to-earnings-growth ratio of 0.63 and a beta of 2.36.

Oscar Health (NYSE:OSCR) last announced its quarterly earnings results on Thursday, August 6th. The company reported $1.10 EPS for the quarter, beating the consensus estimate of $0.40 by $0.70. The firm had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $4.73 billion. Oscar Health had a net margin of 3.60% and a return on equity of 38.45%. The business’s quarterly revenue was up 70.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.89) EPS. As a group, research analysts anticipate that Oscar Health, Inc. will post 1.54 earnings per share for the current year.

Insider Activity at Oscar Health

In related news, insider Janet Liang sold 12,475 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $21.94, for a total transaction of $273,701.50. Following the completion of the transaction, the insider directly owned 259,057 shares in the company, valued at $5,683,710.58. The trade was a 4.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 sold 624,244 shares of the company’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $28.48, for a total value of $17,778,469.12. Following the completion of the transaction, the chief executive officer owned 7,751,570 shares in the company, valued at $220,764,713.60. This represents a 7.45% 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 3,562,466 shares of company stock valued at $102,829,815 in the last ninety days. 22.64% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Oscar Health

Several hedge funds have recently bought and sold shares of the stock. Jones Financial Companies Lllp increased its holdings in shares of Oscar Health by 7,473.3% in the 1st 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 during the last quarter. Strs Ohio purchased a new stake in shares of Oscar Health during the 1st quarter valued at $30,000. Fifth Third Bancorp lifted its holdings in shares of Oscar Health by 148.7% during the 4th quarter. Fifth Third Bancorp now owns 2,363 shares of the company’s stock worth $34,000 after acquiring an additional 1,413 shares during the last quarter. CoreCap Advisors LLC lifted its holdings in shares of Oscar Health by 526.3% during the 2nd quarter. CoreCap Advisors LLC now owns 1,190 shares of the company’s stock worth $34,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Quarry LP grew its position in Oscar Health by 439.8% in the third quarter. Quarry LP now owns 1,803 shares of the company’s stock worth $34,000 after acquiring an additional 1,469 shares in the last quarter. 75.70% of the stock is currently owned by institutional investors.

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.