Traders Buy Large Volume of Call Options on Oscar Health (NYSE:OSCR)

Oscar Health, Inc. (NYSE:OSCR - Get Free Report) was the recipient of unusually large options trading activity on Wednesday. Stock traders bought 90,711 call options on the company. This is an increase of 517% compared to the typical volume of 14,701 call options.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Wells Fargo & Company downgraded Oscar Health from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $20.00 to $16.00 in a research note on Thursday, March 13th. Wall Street Zen downgraded Oscar Health from a "buy" rating to a "hold" rating in a report on Sunday, June 8th. Finally, Piper Sandler decreased their price target on shares of Oscar Health from $25.00 to $18.00 and set an "overweight" rating on the stock in a research note on Monday, June 9th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $16.50.

Oscar Health Price Performance

NYSE:OSCR traded up $2.70 during trading hours on Thursday, reaching $18.81. 49,227,686 shares of the company were exchanged, compared to its average volume of 5,110,472. The business has a 50 day moving average of $14.29 and a 200 day moving average of $14.48. Oscar Health has a 1-year low of $11.20 and a 1-year high of $23.79. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market capitalization of $4.79 billion, a P/E ratio of 67.17 and a beta of 1.73.

Oscar Health (NYSE:OSCR - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.09. The company had revenue of $3 billion for the quarter, compared to analyst estimates of $2.87 billion. Oscar Health had a return on equity of 10.59% and a net margin of 1.22%. Oscar Health's quarterly revenue was up 42.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.62 EPS. Research analysts forecast that Oscar Health will post 0.69 EPS for the current year.

Insiders Place Their Bets

In other Oscar Health news, Director Elbert O. Jr. Robinson sold 25,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $16.43, for a total transaction of $410,750.00. Following the completion of the sale, the director now directly owns 64,512 shares in the company, valued at $1,059,932.16. This trade represents a 27.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 24.39% of the company's stock.

Hedge Funds Weigh In On Oscar Health

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Rhumbline Advisers raised its holdings in shares of Oscar Health by 6.0% during the 1st quarter. Rhumbline Advisers now owns 287,458 shares of the company's stock worth $3,769,000 after buying an additional 16,231 shares in the last quarter. Strs Ohio bought a new position in Oscar Health in the first quarter valued at about $30,000. Intech Investment Management LLC raised its stake in Oscar Health by 50.3% during the first quarter. Intech Investment Management LLC now owns 139,600 shares of the company's stock worth $1,830,000 after acquiring an additional 46,748 shares in the last quarter. Focus Partners Wealth lifted its holdings in shares of Oscar Health by 1.8% in the first quarter. Focus Partners Wealth now owns 55,158 shares of the company's stock worth $723,000 after acquiring an additional 949 shares during the last quarter. Finally, SCS Capital Management LLC acquired a new stake in shares of Oscar Health in the 1st quarter valued at approximately $131,000. 75.70% of the stock is currently owned by institutional investors and hedge funds.

About Oscar Health

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.