Oscar Health (NYSE:OSCR) Trading Up 7.6% – Here’s What Happened

Oscar Health, Inc. (NYSE:OSCR) shares were up 7.6% during mid-day trading on Tuesday . The stock traded as high as $30.43 and last traded at $30.4860. 2,466,718 shares were traded during trading, a decline of 66% from the average daily volume of 7,354,688 shares. The stock had previously closed at $28.34.

Analyst Ratings Changes

Several equities research analysts recently weighed in on OSCR shares. UBS Group upped their price objective on shares of Oscar Health from $15.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Zacks Research upgraded shares of Oscar Health from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. Weiss Ratings raised shares of Oscar Health from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, July 10th. Robert W. Baird increased 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. Finally, Wolfe Research started coverage on shares of Oscar Health in a research note on Tuesday, May 5th. They issued a “peer perform” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $22.00.

Oscar Health Stock Up 3.1%

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 of $27.89 and a two-hundred day moving average of $19.77. The firm has a market capitalization of $9.50 billion, a price-to-earnings ratio of -53.39, a price-to-earnings-growth ratio of 1.65 and a beta of 2.34.

Oscar Health (NYSE:OSCR) last issued its earnings results on Wednesday, May 6th. The company reported $2.07 EPS for the quarter, topping the consensus estimate of $1.11 by $0.96. The firm had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.90 billion. Oscar Health had a negative return on equity of 3.26% and a negative net margin of 0.30%.The business’s quarterly revenue was up 52.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.92 earnings per share. As a group, sell-side analysts anticipate that Oscar Health, Inc. will post 0.63 EPS for the current fiscal year.

Insider Activity at Oscar Health

In other news, CFO Richard Scott Blackley sold 100,000 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $23.16, for a total transaction of $2,316,000.00. Following the completion of the transaction, the chief financial officer directly owned 1,216,660 shares in the company, valued at approximately $28,177,845.60. This represents a 7.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mark T. Bertolini sold 624,244 shares of the business’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $28.48, for a total value of $17,778,469.12. Following the sale, the chief executive officer owned 7,751,570 shares in the company, valued at $220,764,713.60. This represents a 7.45% 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. Insiders sold 3,662,466 shares of company stock worth $105,145,815 in the last 90 days. 22.64% of the stock is currently owned by company insiders.

Institutional Trading of Oscar Health

Hedge funds and other institutional investors have recently made changes to their positions in the company. Jones Financial Companies Lllp raised its holdings in 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 buying an additional 2,242 shares during the last quarter. Strs Ohio acquired a new position in Oscar Health in the 1st quarter valued at approximately $30,000. Fifth Third Bancorp lifted its holdings in shares of Oscar Health by 148.7% during the fourth quarter. Fifth Third Bancorp now owns 2,363 shares of the company’s stock worth $34,000 after purchasing an additional 1,413 shares during the period. CoreCap Advisors LLC grew its stake in shares of Oscar Health by 526.3% in the second quarter. CoreCap Advisors LLC now owns 1,190 shares of the company’s stock worth $34,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Quarry LP grew its stake in shares of Oscar Health by 439.8% in the third quarter. Quarry LP now owns 1,803 shares of the company’s stock worth $34,000 after purchasing an additional 1,469 shares during the last quarter. 75.70% of the stock is currently owned by 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.