Oscar Health (NYSE:OSCR) Trading 6.2% Higher – Here’s Why

Oscar Health, Inc. (NYSE:OSCR)’s share price rose 6.2% during trading on Monday . The company traded as high as $25.20 and last traded at $24.7680. Approximately 5,717,625 shares traded hands during mid-day trading, a decline of 27% from the average daily volume of 7,876,867 shares. The stock had previously closed at $23.32.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Oscar Health in a research report on Tuesday, April 21st. Raymond James Financial upgraded shares of Oscar Health from a “market perform” rating to an “outperform” rating and set a $18.00 price target on the stock in a research note on Thursday, February 12th. UBS Group raised their price target on shares of Oscar Health from $15.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Zacks Research raised shares of Oscar Health from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Finally, Barclays upped their target price on Oscar Health from $18.00 to $21.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $18.22.

Oscar Health Price Performance

The stock has a fifty day moving average of $15.94 and a 200 day moving average of $15.48. The stock has a market cap of $7.01 billion, a price-to-earnings ratio of -39.35, a P/E/G ratio of 1.77 and a beta of 2.34. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.11 and a quick ratio of 1.11.

Oscar Health (NYSE:OSCR) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.96. Oscar Health had a negative net margin of 0.30% and a negative return on equity of 3.26%. The company had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.90 billion. During the same period last year, the firm posted $0.92 EPS. Oscar Health’s revenue for the quarter was up 52.6% compared to the same quarter last year. On average, analysts expect that Oscar Health, Inc. will post 0.47 EPS for the current fiscal year.

Insiders Place Their Bets

In other Oscar Health news, CEO Mark T. Bertolini purchased 1,000,000 shares of the stock in a transaction on Monday, April 6th. The shares were bought at an average cost of $11.92 per share, with a total value of $11,920,000.00. Following the completion of the acquisition, the chief executive officer owned 10,196,876 shares in the company, valued at $121,546,761.92. This trade represents a 10.87% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Richard Scott Blackley sold 100,000 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $23.16, for a total value of $2,316,000.00. Following the sale, the chief financial officer directly owned 1,216,660 shares in the company, valued at $28,177,845.60. This represents a 7.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 25.11% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. OneDigital Investment Advisors LLC boosted its position in Oscar Health by 0.6% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 138,271 shares of the company’s stock worth $2,617,000 after purchasing an additional 779 shares in the last quarter. Focus Partners Wealth increased its holdings in shares of Oscar Health by 1.4% during the 3rd quarter. Focus Partners Wealth now owns 57,787 shares of the company’s stock valued at $1,094,000 after purchasing an additional 824 shares in the last quarter. Equitable Holdings Inc. lifted its stake in shares of Oscar Health by 7.0% in the 4th quarter. Equitable Holdings Inc. now owns 12,975 shares of the company’s stock valued at $186,000 after purchasing an additional 850 shares during the period. Captrust Financial Advisors lifted its stake in shares of Oscar Health by 2.0% in the 4th quarter. Captrust Financial Advisors now owns 45,754 shares of the company’s stock valued at $657,000 after purchasing an additional 895 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its holdings in Oscar Health by 5.6% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 17,774 shares of the company’s stock worth $255,000 after buying an additional 938 shares in the last quarter. 75.70% of the stock is currently owned by hedge funds and other institutional investors.

About Oscar Health

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.