Oscar Health (NYSE:OSCR) Trading 8.3% Higher – Time to Buy?

Oscar Health, Inc. (NYSE:OSCR)’s share price rose 8.3% during mid-day trading on Thursday . The company traded as high as $17.99 and last traded at $18.0790. Approximately 7,062,102 shares changed hands during trading, a decline of 19% from the average daily volume of 8,713,277 shares. The stock had previously closed at $16.69.

Analyst Ratings Changes

A number of equities analysts recently weighed in on OSCR shares. Piper Sandler upgraded shares of Oscar Health from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $13.00 to $25.00 in a report on Tuesday, November 25th. The Goldman Sachs Group assumed coverage on shares of Oscar Health in a research note on Tuesday, October 14th. They set a “neutral” rating and a $17.00 price objective on the stock. Zacks Research raised shares of Oscar Health from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Wells Fargo & Company reduced their price target on Oscar Health from $14.00 to $11.00 and set an “underweight” rating for the company in a report on Thursday, November 13th. Finally, Stephens initiated coverage on Oscar Health in a research report on Thursday, December 11th. They set an “equal weight” rating and a $17.00 price target on the stock. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $17.00.

Oscar Health Stock Performance

The firm has a market cap of $4.39 billion, a price-to-earnings ratio of -14.80 and a beta of 1.90. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.67. The stock’s 50 day moving average is $15.79 and its 200 day moving average is $16.85.

Oscar Health (NYSE:OSCR) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.55) by $0.02. Oscar Health had a negative net margin of 2.16% and a negative return on equity of 21.50%. The firm had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same period last year, the business posted ($0.22) earnings per share. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. Analysts anticipate that Oscar Health, Inc. will post 0.69 earnings per share for the current year.

Insider Transactions at Oscar Health

In other Oscar Health news, insider Adam Mcananey sold 1,852 shares of the company’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 $30,724.68. Following the transaction, the insider directly owned 179,241 shares of the company’s stock, valued at $2,973,608.19. This represents a 1.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Richard Scott Blackley sold 25,135 shares of Oscar Health stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $16.59, for a total value of $416,989.65. Following the sale, the chief financial officer directly owned 1,351,034 shares of the company’s stock, valued at $22,413,654.06. This represents a 1.83% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 483,307 shares of company stock valued at $7,635,300. Corporate insiders own 24.39% of the company’s stock.

Institutional Trading of Oscar Health

Institutional investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. lifted its holdings in shares of Oscar Health by 200.9% in the second quarter. Envestnet Asset Management Inc. now owns 30,210 shares of the company’s stock worth $648,000 after acquiring an additional 20,171 shares during the last quarter. Udine Wealth Management Inc. increased its position in Oscar Health by 138.4% during the 3rd quarter. Udine Wealth Management Inc. now owns 146,555 shares of the company’s stock worth $2,774,000 after purchasing an additional 85,083 shares in the last quarter. Matauro LLC acquired a new position in Oscar Health during the 2nd quarter worth approximately $1,508,000. Kingswood Wealth Advisors LLC bought a new position in Oscar Health in the 2nd quarter valued at approximately $576,000. Finally, Lane Generational LLC acquired a new stake in Oscar Health in the second quarter valued at approximately $4,800,000. Institutional investors own 75.70% of the company’s stock.

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.