Oscar Health (NYSE:OSCR) Trading Up 8.3% – Here’s Why

Oscar Health, Inc. (NYSE:OSCR)’s stock price traded up 8.3% on Friday . The stock traded as high as $21.08 and last traded at $20.88. 6,459,620 shares traded hands during trading, a decline of 54% from the average session volume of 14,009,510 shares. The stock had previously closed at $19.28.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Wells Fargo & Company downgraded shares of Oscar Health from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $16.00 to $10.00 in a research report on Friday, July 11th. Weiss Ratings reissued a “sell (d)” rating on shares of Oscar Health in a research report on Saturday, September 27th. Barclays dropped their target price on shares of Oscar Health from $17.00 to $11.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 23rd. Baird R W downgraded shares of Oscar Health from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 25th. Finally, UBS Group reissued a “sell” rating and set a $11.00 target price (down previously from $15.00) on shares of Oscar Health in a research report on Tuesday, July 15th. Four research analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Strong Sell” and a consensus target price of $12.07.

Oscar Health Price Performance

The firm’s fifty day moving average price is $17.05 and its 200 day moving average price is $15.60. The firm has a market capitalization of $5.60 billion, a PE ratio of -26.75 and a beta of 1.89. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26.

Oscar Health (NYSE:OSCR) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.89) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.01. The business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.88 billion. Oscar Health had a negative net margin of 1.50% and a negative return on equity of 13.78%. The business’s revenue for the quarter was up 29.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.20 EPS. As a group, equities analysts forecast that Oscar Health, Inc. will post 0.69 earnings per share for the current year.

Insider Activity

In related news, insider Mario Schlosser sold 395,000 shares of the business’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $18.43, for a total value of $7,279,850.00. Following the completion of the transaction, the insider directly owned 501,148 shares in the company, valued at $9,236,157.64. The trade was a 44.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 24.39% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Oscar Health

Large investors have recently made changes to their positions in the company. Victory Capital Management Inc. lifted its stake in shares of Oscar Health by 23.8% in the 1st quarter. Victory Capital Management Inc. now owns 285,997 shares of the company’s stock valued at $3,749,000 after purchasing an additional 54,938 shares during the period. Concurrent Investment Advisors LLC acquired a new position in shares of Oscar Health in the 1st quarter valued at $677,000. Nuveen LLC acquired a new position in shares of Oscar Health in the 1st quarter valued at $29,684,000. NewEdge Advisors LLC lifted its stake in shares of Oscar Health by 89.7% in the 1st quarter. NewEdge Advisors LLC now owns 188,058 shares of the company’s stock valued at $2,465,000 after purchasing an additional 88,946 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Oscar Health by 19.0% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 501,972 shares of the company’s stock valued at $6,581,000 after purchasing an additional 79,979 shares during the period. 75.70% of the stock is currently owned by institutional investors and hedge funds.

Oscar Health Company Profile

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.