Oscar Health (NYSE:OSCR) Hits New 1-Year High - Still a Buy?

Key Points

• Oscar Health hit a new 52-week high, trading as high as $29.89 and closing near $29.86, extending a strong recent run.
• Recent analyst sentiment remains mixed: several firms have raised or adjusted targets, but the overall consensus is still Hold with an average price target of $20.78.
• The company beat earnings expectations in its latest quarter, reporting $2.07 EPS versus $1.11 expected, though revenue of $4.65 billion came in below estimates and the business remains unprofitable on a net basis.

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

Wall Street Analyst Weigh In

A number of research analysts have commented on OSCR shares. Jefferies Financial Group upgraded Oscar Health from an "underperform" rating to a "hold" rating and boosted their price objective for the stock from $10.00 to $16.00 in a research note on Monday, April 20th. Wells Fargo & Company set a $20.00 target price on Oscar Health and gave the company an "equal weight" rating in a research note on Thursday, June 4th. Zacks Research lowered Oscar Health from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 5th. Robert W. Baird boosted their price target on Oscar Health from $15.00 to $19.00 and gave the stock a "neutral" rating in a research report on Thursday, May 7th. Finally, Wall Street Zen raised shares of Oscar Health from a "buy" rating to a "strong-buy" rating in a research report on Sunday, June 14th. 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 company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $20.78.

Oscar Health Stock Up 5.0%

The firm has a fifty day simple moving average of $21.89 and a 200-day simple moving average of $17.02. The company has a market capitalization of $9.04 billion, a PE ratio of -50.81, a P/E/G ratio of 1.99 and a beta of 2.37. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.11 and a current ratio of 1.11.

Oscar Health (NYSE:OSCR - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $2.07 earnings per share 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 business had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter last year, the company earned $0.92 earnings per share. The business's quarterly revenue was up 52.6% compared to the same quarter last year. Equities research analysts anticipate that Oscar Health, Inc. will post 0.47 EPS for the current fiscal year.

Insider Activity

In other Oscar Health news, insider Adam Mcananey sold 9,859 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $21.94, for a total transaction of $216,306.46. Following the transaction, the insider owned 218,096 shares of the company's stock, valued at $4,785,026.24. This trade represents a 4.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 Oscar Health stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $21.94, for a total value of $695,125.02. Following the completion of the transaction, the chief financial officer 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 position. 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 have sold a total of 189,660 shares of company stock valued at $4,283,140 over the last three months. Company insiders own 25.11% of the company's stock.

Institutional Trading of Oscar Health

Institutional investors and hedge funds have recently modified their holdings of the business. Empowered Funds LLC acquired a new position in shares of Oscar Health in the 1st quarter valued at about $6,234,000. Bank of America Corp DE raised its stake in Oscar Health by 205.1% during the first quarter. Bank of America Corp DE now owns 2,860,310 shares of the company's stock worth $32,808,000 after acquiring an additional 1,922,732 shares during the period. Arkadios Wealth Advisors raised its stake in Oscar Health by 9.4% during the first quarter. Arkadios Wealth Advisors now owns 14,275 shares of the company's stock worth $164,000 after acquiring an additional 1,228 shares during the period. Amundi bought a new position in Oscar Health in the first quarter worth about $362,000. Finally, California State Teachers Retirement System lifted its holdings in Oscar Health by 23.3% in the first quarter. California State Teachers Retirement System now owns 235,443 shares of the company's stock worth $2,701,000 after acquiring an additional 44,443 shares during the last quarter. 75.70% of the stock is owned by institutional investors and hedge funds.

Oscar Health Company Profile

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.

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