Oscar Health (NYSE:OSCR) Stock Price Up 6.9% – Here’s What Happened

Oscar Health, Inc. (NYSE:OSCR) traded up 6.9% during mid-day trading on Friday . The company traded as high as $15.99 and last traded at $15.98. 1,522,454 shares changed hands during trading, a decline of 49% from the average session volume of 2,993,832 shares. The stock had previously closed at $14.95.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Bank of America downgraded shares of Oscar Health from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $21.00 to $13.50 in a research note on Wednesday, November 6th. UBS Group initiated coverage on Oscar Health in a research report on Monday, October 7th. They issued a “neutral” rating and a $23.00 price target for the company. Finally, Jefferies Financial Group assumed coverage on Oscar Health in a research note on Tuesday, December 10th. They set an “underperform” rating and a $12.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $21.56.

Oscar Health Stock Performance

The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $3.94 billion, a PE ratio of -265.29, a PEG ratio of 0.57 and a beta of 1.70. The business has a 50 day simple moving average of $14.98 and a 200 day simple moving average of $16.83.

Oscar Health (NYSE:OSCR) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.02). The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.33 billion. Oscar Health had a net margin of 0.35% and a return on equity of 2.79%. The business’s revenue for the quarter was up 68.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.29) earnings per share. Equities research analysts predict that Oscar Health, Inc. will post -0.01 EPS for the current fiscal year.

Insider Transactions at Oscar Health

In other news, Director Thrive Partners Vii Growth Gp, bought 420,819 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was purchased at an average price of $13.68 per share, with a total value of $5,756,803.92. Following the completion of the acquisition, the director now directly owns 5,452,081 shares of the company’s stock, valued at $74,584,468.08. This trade represents a 8.36 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Joshua Kushner bought 276,040 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was purchased at an average price of $13.58 per share, for a total transaction of $3,748,623.20. Following the transaction, the insider now owns 5,031,262 shares of the company’s stock, valued at $68,324,537.96. The trade was a 5.80 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 1,055,478 shares of company stock worth $14,432,852 and sold 103,610 shares worth $1,847,519. Insiders own 25.11% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC boosted its holdings in Oscar Health by 7.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 12,028 shares of the company’s stock valued at $255,000 after purchasing an additional 844 shares during the last quarter. Summit Trail Advisors LLC lifted its holdings in Oscar Health by 5.4% in the second quarter. Summit Trail Advisors LLC now owns 20,820 shares of the company’s stock valued at $329,000 after acquiring an additional 1,065 shares during the period. KBC Group NV boosted its position in Oscar Health by 41.2% in the 3rd quarter. KBC Group NV now owns 4,552 shares of the company’s stock worth $97,000 after purchasing an additional 1,328 shares in the last quarter. Amalgamated Bank grew its stake in shares of Oscar Health by 27.7% during the 2nd quarter. Amalgamated Bank now owns 6,727 shares of the company’s stock worth $106,000 after purchasing an additional 1,458 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Oscar Health by 1.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 109,074 shares of the company’s stock valued at $2,313,000 after purchasing an additional 1,866 shares in the last quarter. Hedge funds and other institutional investors own 75.70% of the company’s stock.

About Oscar Health

Oscar Health, Inc operates as a health insurance in the United States. The company offers health plans in individual and small group markets, as well as +Oscar, a technology driven platform that help providers and payors directly enable their shift to value-based care. It also provides reinsurance products.