Oscar Health (NYSE:OSCR) Hits New 52-Week High – What’s Next?

Oscar Health, Inc. (NYSE:OSCR)’s share price hit a new 52-week high on Monday . The stock traded as high as $33.10 and last traded at $32.1050, with a volume of 22014 shares. The stock had previously closed at $32.18.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Zacks Research cut Oscar Health from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. Weiss Ratings cut Oscar Health from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, June 24th. Wall Street Zen raised Oscar Health from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 14th. Robert W. Baird lifted their price target on Oscar Health from $15.00 to $19.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Finally, Jefferies Financial Group raised shares of Oscar Health from an “underperform” rating to a “hold” rating and boosted their price target for the company from $10.00 to $16.00 in a research report on Monday, April 20th. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $20.78.

Oscar Health Stock Performance

The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.26. The firm has a 50-day moving average price of $25.08 and a 200 day moving average price of $18.10. The firm has a market capitalization of $9.37 billion, a PE ratio of -52.67, a price-to-earnings-growth ratio of 2.20 and a beta of 2.34.

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

Insider Buying and Selling at Oscar Health

In related news, CEO Mark T. Bertolini sold 624,244 shares of Oscar Health stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $28.48, for a total value of $17,778,469.12. Following the completion of the transaction, the chief executive officer owned 7,751,570 shares in the company, valued at approximately $220,764,713.60. The trade was a 7.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible 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, insider Janet Liang sold 12,475 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $21.94, for a total transaction of $273,701.50. Following the completion of the transaction, the insider directly owned 259,057 shares of the company’s stock, valued at $5,683,710.58. This represents a 4.59% decrease in their position. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 3,662,466 shares of company stock valued at $105,145,815. Corporate insiders own 25.11% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp increased its position in shares of Oscar Health by 7,473.3% in the 1st quarter. Jones Financial Companies Lllp now owns 2,272 shares of the company’s stock valued at $30,000 after purchasing an additional 2,242 shares during the last quarter. Strs Ohio acquired a new stake in Oscar Health in the first quarter valued at $30,000. Fifth Third Bancorp raised its stake in Oscar Health by 148.7% in the fourth quarter. Fifth Third Bancorp now owns 2,363 shares of the company’s stock valued at $34,000 after buying an additional 1,413 shares in the last quarter. CoreCap Advisors LLC lifted its holdings in Oscar Health by 526.3% during the 2nd quarter. CoreCap Advisors LLC now owns 1,190 shares of the company’s stock worth $34,000 after buying an additional 1,000 shares during the last quarter. Finally, Quarry LP lifted its holdings in Oscar Health by 439.8% during the 3rd quarter. Quarry LP now owns 1,803 shares of the company’s stock worth $34,000 after buying an additional 1,469 shares during the last quarter. Hedge funds and other institutional investors own 75.70% of the company’s stock.

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.