Oscar Health (NYSE:OSCR) Reaches New 12-Month High – Here’s Why

Oscar Health, Inc. (NYSE:OSCR) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $29.89 and last traded at $29.86, with a volume of 5109147 shares traded. The stock had previously closed at $28.54.

Analyst Ratings Changes

Several brokerages have weighed in on OSCR. UBS Group increased their target price on Oscar Health from $15.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Barclays raised shares of Oscar Health from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $30.00 to $35.00 in a report on Wednesday, June 10th. Robert W. Baird upped their price target on shares of Oscar Health from $15.00 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Wall Street Zen raised shares of Oscar Health from a “buy” rating to a “strong-buy” rating in a report on Sunday, June 14th. Finally, Jefferies Financial Group upgraded shares of Oscar Health from an “underperform” rating to a “hold” rating and lifted their price objective for the company from $10.00 to $16.00 in a research report on Monday, April 20th. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $20.78.

Oscar Health Stock Up 5.0%

The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a 50 day simple moving average of $21.89 and a two-hundred day simple moving average of $17.02. The stock has a market cap of $9.04 billion, a P/E ratio of -50.81, a P/E/G ratio of 1.99 and a beta of 2.37.

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

Insider Activity at Oscar Health

In other Oscar Health news, CAO Victoria Baltrus sold 1,523 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $21.94, for a total transaction of $33,414.62. Following the completion of the transaction, the chief accounting officer directly owned 214,589 shares of the company’s stock, valued at approximately $4,708,082.66. This trade represents a 0.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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, CFO Richard Scott Blackley sold 31,683 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $21.94, for a total value of $695,125.02. Following the transaction, the chief financial officer directly owned 1,074,977 shares of the company’s stock, valued at approximately $23,584,995.38. The trade was a 2.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Insiders sold 189,660 shares of company stock worth $4,283,140 in the last three months. Insiders own 25.11% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of OSCR. Vanguard Group Inc. boosted its position in shares of Oscar Health by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 20,701,250 shares of the company’s stock valued at $297,477,000 after purchasing an additional 540,851 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of Oscar Health by 11.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 9,217,816 shares of the company’s stock worth $132,461,000 after purchasing an additional 910,320 shares in the last quarter. Morgan Stanley raised its holdings in shares of Oscar Health by 42.8% in the 4th quarter. Morgan Stanley now owns 6,814,046 shares of the company’s stock worth $97,918,000 after purchasing an additional 2,043,758 shares in the last quarter. Thrive Capital Management LLC lifted its stake in Oscar Health by 33.4% during the fourth quarter. Thrive Capital Management LLC now owns 6,343,617 shares of the company’s stock valued at $85,258,000 after purchasing an additional 1,588,395 shares during the last quarter. Finally, BIT Capital GmbH lifted its stake in Oscar Health by 545.0% during the fourth quarter. BIT Capital GmbH now owns 6,186,267 shares of the company’s stock valued at $88,897,000 after purchasing an additional 5,227,152 shares during the last quarter. 75.70% of the stock is owned by institutional investors and hedge funds.

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.