Oscar Health (NYSE:OSCR) Stock Price Down 5.7% – Here’s Why

Oscar Health, Inc. (NYSE:OSCR) traded down 5.7% on Thursday . The stock traded as low as $22.20 and last traded at $22.0910. 4,364,356 shares changed hands during trading, a decline of 45% from the average session volume of 7,907,845 shares. The stock had previously closed at $23.42.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Wolfe Research assumed coverage on Oscar Health in a research report on Tuesday, May 5th. They set a “peer perform” rating on the stock. Barclays boosted their target price on Oscar Health from $18.00 to $21.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. Raymond James Financial raised Oscar Health from a “market perform” rating to an “outperform” rating and set a $18.00 target price on the stock in a research report on Thursday, February 12th. Zacks Research raised Oscar Health from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Finally, Robert W. Baird boosted their target price on Oscar Health from $15.00 to $19.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $18.22.

Oscar Health Trading Up 2.4%

The stock has a fifty day moving average of $16.49 and a 200-day moving average of $15.60. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market cap of $6.83 billion, a PE ratio of -38.42, a PEG ratio of 1.55 and a beta of 2.34.

Oscar Health (NYSE:OSCR) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.96. Oscar Health had a negative return on equity of 3.26% and a negative net margin of 0.30%.The company had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter in the previous year, the business earned $0.92 EPS. Oscar Health’s revenue was up 52.6% compared to the same quarter last year. Sell-side analysts anticipate that Oscar Health, Inc. will post 0.47 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Richard Scott Blackley sold 100,000 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $23.16, for a total transaction of $2,316,000.00. Following the completion of the transaction, the chief financial officer owned 1,216,660 shares in the company, valued at $28,177,845.60. The trade was a 7.59% decrease in their position. The transaction was disclosed in a legal 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. Also, CEO Mark T. Bertolini acquired 1,000,000 shares of the company’s stock in a transaction that occurred on Monday, April 6th. The shares were acquired at an average price of $11.92 per share, with a total value of $11,920,000.00. Following the acquisition, the chief executive officer owned 10,196,876 shares in the company, valued at $121,546,761.92. This trade represents a 10.87% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 24.39% of the stock is owned by insiders.

Hedge Funds Weigh In On Oscar Health

A number of large investors have recently bought and sold shares of OSCR. Thrive Capital Management LLC boosted its holdings in Oscar Health by 33.4% during the 4th quarter. Thrive Capital Management LLC now owns 6,343,617 shares of the company’s stock valued at $85,258,000 after acquiring an additional 1,588,395 shares during the period. Baird Financial Group Inc. bought a new stake in Oscar Health during the 1st quarter valued at $159,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Oscar Health by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 215,650 shares of the company’s stock valued at $2,827,000 after purchasing an additional 8,879 shares in the last quarter. Jones Financial Companies Lllp raised its position in Oscar Health by 7,473.3% during the 1st quarter. Jones Financial Companies Lllp now owns 2,272 shares of the company’s stock valued at $30,000 after purchasing an additional 2,242 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Oscar Health by 39.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 470,590 shares of the company’s stock valued at $6,169,000 after purchasing an additional 132,149 shares in the last quarter. Hedge funds and other 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.