Oscar Health (NYSE:OSCR) Shares Gap Up – Here’s What Happened

Shares of Oscar Health, Inc. (NYSE:OSCR) gapped up before the market opened on Thursday . The stock had previously closed at $16.48, but opened at $17.65. Oscar Health shares last traded at $17.56, with a volume of 2,821,881 shares changing hands.

Analysts Set New Price Targets

OSCR has been the topic of several research analyst reports. Barclays set a $18.00 price objective on Oscar Health and gave the company an “equal weight” rating in a report on Monday. UBS Group raised shares of Oscar Health from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $12.00 to $17.00 in a report on Friday. Zacks Research upgraded shares of Oscar Health from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Wall Street Zen downgraded shares of Oscar Health from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Oscar Health in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $17.00.

Oscar Health Price Performance

The stock’s fifty day moving average price is $15.80 and its 200-day moving average price is $16.96. The firm has a market cap of $4.68 billion, a PE ratio of -15.78 and a beta of 1.90. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.92 and a quick ratio of 0.92.

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

Insider Buying and Selling

In other Oscar Health news, insider Janet Liang sold 7,338 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $16.59, for a total value of $121,737.42. Following the completion of the sale, the insider directly owned 172,527 shares of the company’s stock, valued at $2,862,222.93. This trade represents a 4.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Richard Scott Blackley sold 25,135 shares of the business’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 $416,989.65. Following the transaction, the chief financial officer directly owned 1,351,034 shares in the company, valued at approximately $22,413,654.06. The trade was a 1.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 460,269 shares of company stock valued at $7,228,679 over the last ninety days. 24.39% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Oscar Health

A number of institutional investors have recently made changes to their positions in the stock. LRI Investments LLC lifted its holdings in shares of Oscar Health by 377.9% in the 2nd quarter. LRI Investments LLC now owns 1,233 shares of the company’s stock worth $26,000 after acquiring an additional 975 shares during the last quarter. Farther Finance Advisors LLC raised its position in Oscar Health by 4,420.7% in the third quarter. Farther Finance Advisors LLC now owns 1,311 shares of the company’s stock valued at $25,000 after purchasing an additional 1,282 shares during the period. Atlantic Union Bankshares Corp acquired a new position in Oscar Health during the second quarter worth $33,000. Quarry LP boosted its position in shares of Oscar Health by 439.8% during the third quarter. Quarry LP now owns 1,803 shares of the company’s stock worth $34,000 after buying an additional 1,469 shares during the period. Finally, Tsfg LLC purchased a new position in shares of Oscar Health during the third quarter worth $38,000. 75.70% of the stock is currently owned by institutional investors and hedge funds.

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.