Oscar Health (NYSE:OSCR) Trading 4.4% Higher – Here’s What Happened

Oscar Health, Inc. (NYSE:OSCR)’s share price was up 4.4% on Friday . The stock traded as high as $31.51 and last traded at $31.38. 2,907,342 shares were traded during trading, a decline of 59% from the average session volume of 7,141,643 shares. The stock had previously closed at $30.05.

Analysts Set New Price Targets

OSCR has been the subject of several recent analyst reports. Wells Fargo & Company increased their price target on Oscar Health from $20.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 13th. Robert W. Baird set a $27.00 price objective on shares of Oscar Health in a research note on Friday, August 7th. Wolfe Research started coverage on shares of Oscar Health in a report on Tuesday, May 5th. They issued a “peer perform” rating for the company. Zacks Research upgraded shares of Oscar Health from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. Finally, UBS Group raised their target price on shares of Oscar Health from $20.00 to $26.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $26.22.

Oscar Health Stock Performance

The stock has a market cap of $9.65 billion, a P/E ratio of 22.34, a PEG ratio of 0.64 and a beta of 2.36. The company has a fifty day moving average of $30.22 and a 200 day moving average of $22.00. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 1.09.

Oscar Health (NYSE:OSCR) last released its earnings results on Thursday, August 6th. The company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.70. The firm had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $4.73 billion. Oscar Health had a return on equity of 38.45% and a net margin of 3.60%.The firm’s revenue for the quarter was up 70.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.89) earnings per share. On average, equities analysts predict that Oscar Health, Inc. will post 1.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Adam Mcananey sold 9,859 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $21.94, for a total transaction of $216,306.46. Following the completion of the transaction, the insider owned 218,096 shares of the company’s stock, valued at $4,785,026.24. This trade represents a 4.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 Oscar Health stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $21.94, for a total value of $273,701.50. Following the transaction, the insider directly owned 259,057 shares in the company, valued at approximately $5,683,710.58. The trade was a 4.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. In the last ninety days, insiders have sold 3,581,216 shares of company stock worth $103,424,940. 22.64% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Oscar Health

A number of institutional investors and hedge funds have recently bought and sold shares of the business. California State Teachers Retirement System boosted its position in shares of Oscar Health by 3,214.2% during the 2nd quarter. California State Teachers Retirement System now owns 7,803,043 shares of the company’s stock valued at $222,543,000 after purchasing an additional 7,567,600 shares in the last quarter. Comprehensive Financial Planning Inc. PA bought a new stake in shares of Oscar Health in the 2nd quarter worth approximately $309,000. AXQ Capital LP bought a new stake in shares of Oscar Health in the 2nd quarter worth approximately $1,059,000. Nykredit A S acquired a new stake in Oscar Health during the second quarter valued at approximately $130,000. Finally, Wellington Management Group LLP lifted its stake in Oscar Health by 65.6% during the second quarter. Wellington Management Group LLP now owns 603,675 shares of the company’s stock valued at $17,217,000 after purchasing an additional 239,109 shares during the last quarter. 75.70% of the stock is owned by institutional investors and hedge funds.

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.