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

Oscar Health, Inc. (NYSE:OSCR) gapped up prior to trading on Tuesday . The stock had previously closed at $12.66, but opened at $13.50. Oscar Health shares last traded at $13.7120, with a volume of 10,341,798 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on OSCR. Weiss Ratings restated a “sell (d)” rating on shares of Oscar Health in a research report on Thursday, January 22nd. Barclays set a $18.00 target price on shares of Oscar Health and gave the stock an “equal weight” rating in a report on Monday, January 5th. Stephens assumed coverage on shares of Oscar Health in a research report on Thursday, December 11th. They set an “equal weight” rating and a $17.00 price target for the company. Wells Fargo & Company decreased their price objective on shares of Oscar Health from $14.00 to $11.00 and set an “underweight” rating on the stock in a research report on Thursday, November 13th. Finally, The Goldman Sachs Group assumed coverage on shares of Oscar Health in a report on Tuesday, October 14th. They set a “neutral” rating and a $17.00 target price for the company. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $17.00.

Oscar Health Stock Up 4.4%

The stock has a market capitalization of $3.50 billion, a PE ratio of -11.83 and a beta of 1.90. The stock’s 50-day moving average price is $15.52 and its two-hundred day moving average price is $16.75. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.92 and a current ratio of 0.92.

Oscar Health (NYSE:OSCR) last announced its quarterly earnings data on Tuesday, February 10th. The company reported ($1.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.40). Oscar Health had a negative return on equity of 21.50% and a negative net margin of 2.16%.The business had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same quarter last year, the company posted ($0.62) EPS. Oscar Health’s revenue for the quarter was up 17.3% compared to the same quarter last year. As a group, analysts expect that Oscar Health, Inc. will post 0.69 EPS for the current fiscal year.

Insider Activity

In other Oscar Health news, insider Mario Schlosser sold 23,038 shares of the firm’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $17.65, for a total transaction of $406,620.70. Following the completion of the sale, the insider directly owned 350,180 shares in the company, valued at approximately $6,180,677. This trade represents a 6.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Janet Liang sold 7,338 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $16.59, for a total transaction of $121,737.42. Following the completion of the transaction, the insider owned 172,527 shares in the company, valued at approximately $2,862,222.93. This represents a 4.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 197,125 shares of company stock valued at $3,265,300. Company insiders own 25.11% of the company’s stock.

Institutional Investors Weigh In On Oscar Health

Hedge funds and other institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC increased its holdings in Oscar Health by 4,420.7% during the third quarter. Farther Finance Advisors LLC now owns 1,311 shares of the company’s stock valued at $25,000 after buying an additional 1,282 shares during the last quarter. LRI Investments LLC increased its stake 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 purchasing an additional 975 shares in the last quarter. Jones Financial Companies Lllp increased its stake 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 purchasing an additional 2,242 shares in the last quarter. Strs Ohio bought a new position in Oscar Health in the 1st quarter worth $30,000. Finally, Atlantic Union Bankshares Corp purchased a new position in Oscar Health during the second quarter valued at $33,000. Hedge funds and other institutional investors 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.