Oscar Health (NYSE:OSCR) Announces Quarterly Earnings Results

Oscar Health (NYSE:OSCR) issued its earnings results on Tuesday. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.07), Zacks reports. Oscar Health had a net margin of 0.35% and a return on equity of 2.79%.

Oscar Health Price Performance

Shares of NYSE:OSCR traded down $1.49 during trading on Tuesday, reaching $15.27. 9,931,713 shares of the company’s stock traded hands, compared to its average volume of 3,324,902. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.26. Oscar Health has a fifty-two week low of $12.84 and a fifty-two week high of $23.79. The company has a 50-day simple moving average of $15.22 and a 200-day simple moving average of $16.85. The firm has a market cap of $3.77 billion, a PE ratio of -254.37, a P/E/G ratio of 0.67 and a beta of 1.73.

Insiders Place Their Bets

In related news, COO Steven Wolin sold 19,580 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $18.08, for a total transaction of $354,006.40. Following the completion of the transaction, the chief operating officer now owns 102,598 shares in the company, valued at $1,854,971.84. This represents a 16.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Joshua Kushner purchased 276,040 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was bought at an average cost of $13.58 per share, for a total transaction of $3,748,623.20. Following the completion of the purchase, the insider now directly owns 5,031,262 shares in the company, valued at $68,324,537.96. This represents a 5.80 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 1,055,478 shares of company stock worth $14,432,852 and have sold 103,610 shares worth $1,847,519. 25.11% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

OSCR has been the topic of a number of analyst reports. Jefferies Financial Group began coverage on Oscar Health in a report on Tuesday, December 10th. They issued an “underperform” rating and a $12.00 price target on the stock. Bank of America lowered Oscar Health from a “neutral” rating to an “underperform” rating and cut their target price for the company from $21.00 to $13.50 in a research note on Wednesday, November 6th. Finally, UBS Group assumed coverage on shares of Oscar Health in a research report on Monday, October 7th. They set a “neutral” rating and a $23.00 price target for the company. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Oscar Health currently has a consensus rating of “Hold” and an average target price of $21.56.

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.