Oscar Health (NYSE:OSCR) Shares Up 6.2% – Here’s What Happened

Oscar Health, Inc. (NYSE:OSCR) shot up 6.2% on Monday . The company traded as high as $25.20 and last traded at $24.7680. 5,717,625 shares traded hands during mid-day trading, a decline of 27% from the average session volume of 7,876,867 shares. The stock had previously closed at $23.32.

Wall Street Analysts Forecast Growth

OSCR has been the subject of a number of research reports. Zacks Research upgraded shares of Oscar Health from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Jefferies Financial Group upgraded shares of Oscar Health from an “underperform” rating to a “hold” rating and lifted their price objective for the company from $10.00 to $16.00 in a report on Monday, April 20th. Weiss Ratings reissued a “sell (d)” rating on shares of Oscar Health in a research note on Tuesday, April 21st. Wall Street Zen raised Oscar Health from a “hold” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Finally, Wolfe Research initiated coverage on Oscar Health in a research note on Tuesday, May 5th. They set a “peer perform” rating for the company. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $18.22.

Oscar Health Trading Up 8.2%

The company has a 50-day moving average price of $15.51 and a 200-day moving average price of $15.40. The firm has a market capitalization of $7.60 billion, a price-to-earnings ratio of -42.69, a PEG ratio of 1.63 and a beta of 2.34. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.11 and a current ratio of 1.11.

Oscar Health (NYSE:OSCR) last released its quarterly earnings data 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. The business had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.90 billion. Oscar Health had a negative return on equity of 3.26% and a negative net margin of 0.30%.The business’s quarterly revenue was up 52.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.92 EPS. As a group, research analysts forecast that Oscar Health, Inc. will post 0.47 EPS for the current fiscal year.

Insider Activity

In related news, CEO Mark T. Bertolini bought 1,000,000 shares of the stock in a transaction dated Monday, April 6th. The stock was acquired at an average price 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 in the company, valued at approximately $121,546,761.92. This represents a 10.87% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 24.39% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of OSCR. Q Fund Management Hong Kong Ltd acquired a new stake in shares of Oscar Health in the 3rd quarter valued at about $5,940,000. State of Michigan Retirement System acquired a new stake in Oscar Health during the 3rd quarter worth $27,448,000. Vanguard Group Inc. boosted its stake in Oscar Health by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 20,701,250 shares of the company’s stock worth $297,477,000 after purchasing an additional 540,851 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in 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 worth $3,418,000 after purchasing an additional 218,022 shares during the period. Finally, Farallon Capital Management LLC boosted 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 worth $68,886,000 after purchasing an additional 2,163,000 shares during the period. Institutional investors and hedge funds own 75.70% of the company’s stock.

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.