Oscar Health (NYSE:OSCR) Stock Price Down 9.7% – Here’s Why

Shares of Oscar Health, Inc. (NYSE:OSCR) fell 9.7% during trading on Thursday . The company traded as low as $26.26 and last traded at $27.1790. Approximately 3,839,218 shares changed hands during trading, a decline of 47% from the average session volume of 7,237,161 shares. The stock had previously closed at $30.11.

Wall Street Analysts Forecast Growth

OSCR has been the topic of several analyst reports. Wolfe Research began coverage on shares of Oscar Health in a research report on Tuesday, May 5th. They issued a “peer perform” rating on the stock. Wall Street Zen upgraded shares of Oscar Health from a “buy” rating to a “strong-buy” rating in a research report on Sunday, June 14th. Weiss Ratings raised shares of Oscar Health from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, July 10th. Piper Sandler restated an “overweight” rating and issued a $36.00 target price on shares of Oscar Health in a report on Tuesday, July 28th. Finally, Barclays raised Oscar Health from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $30.00 to $35.00 in a research report on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Oscar Health presently has a consensus rating of “Hold” and a consensus price target of $22.00.

Oscar Health Price Performance

The stock’s 50-day moving average is $28.74 and its 200 day moving average is $20.25. The stock has a market capitalization of $8.13 billion, a PE ratio of -45.57, a P/E/G ratio of 0.89 and a beta of 2.36. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.26.

Oscar Health (NYSE:OSCR) last issued its earnings results on Thursday, August 6th. The company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.70. Oscar Health had a negative net margin of 0.30% and a negative return on equity of 3.26%. The company had revenue of $4.88 billion during the quarter, compared to analyst estimates of $4.73 billion. During the same quarter last year, the business posted ($0.89) EPS. The company’s revenue for the quarter was up 70.4% on a year-over-year basis. As a group, equities analysts predict that Oscar Health, Inc. will post 1.12 earnings per share for the current year.

Insider Activity at Oscar Health

In other Oscar Health news, insider Adam Mcananey sold 9,859 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $21.94, for a total value of $216,306.46. Following the completion of the sale, the insider directly owned 218,096 shares of the company’s stock, valued at $4,785,026.24. The trade was a 4.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Janet Liang sold 12,475 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $21.94, for a total transaction of $273,701.50. Following the transaction, the insider owned 259,057 shares in the company, valued at $5,683,710.58. This represents a 4.59% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 3,662,466 shares of company stock worth $105,145,815. 22.64% of the stock is currently owned by corporate insiders.

Institutional Trading of Oscar Health

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Oscar Health by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 20,701,250 shares of the company’s stock worth $297,477,000 after buying an additional 540,851 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Oscar Health by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 4,798,313 shares of the company’s stock valued at $68,964,000 after buying an additional 116,430 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of 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 acquiring an additional 218,022 shares during the period. BIT Capital GmbH lifted its holdings in shares of Oscar Health by 545.0% during the 4th quarter. BIT Capital GmbH now owns 6,186,267 shares of the company’s stock worth $88,897,000 after acquiring an additional 5,227,152 shares during the period. Finally, Simplify Asset Management Inc. acquired a new stake in shares of Oscar Health during the 4th quarter valued at about $2,948,000. 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.