Oscar Health (NYSE:OSCR) Reaches New 1-Year High - Time to Buy?

Key Points

• Oscar Health shares hit a new 52-week high, trading as high as $33.10 before settling near $32.11, reflecting strong recent momentum in the stock.
• Analyst sentiment has improved, with several firms raising price targets and Barclays upgrading the stock to overweight; the consensus rating is currently Hold with an average target of $20.78.
• The company posted strong first-quarter results, with EPS of $2.07 beating estimates, while revenue rose 52.6% year over year; however, insiders have also been selling shares, including a large sale by CEO Mark T. Bertolini.

Shares of Oscar Health, Inc. (NYSE:OSCR - Get Free Report) reached a new 52-week high during trading on Monday . The company traded as high as $33.10 and last traded at $32.1050, with a volume of 22014 shares traded. The stock had previously closed at $32.18.

Wall Street Analysts Forecast Growth

OSCR has been the topic of several research analyst reports. Jefferies Financial Group raised shares of Oscar Health from an "underperform" rating to a "hold" rating and increased their price objective for the company from $10.00 to $16.00 in a research report on Monday, April 20th. Wells Fargo & Company set a $20.00 target price on shares of Oscar Health and gave the stock an "equal weight" rating in a report on Thursday, June 4th. Barclays upgraded shares of Oscar Health from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $30.00 to $35.00 in a research note on Wednesday, June 10th. UBS Group raised 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. Finally, Robert W. Baird increased their target price on Oscar Health from $15.00 to $19.00 and gave the stock a "neutral" rating in a research note on Thursday, May 7th. Three investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $20.78.

Oscar Health Trading Down 0.5%

The company has a debt-to-equity ratio of 0.26, a current ratio of 1.11 and a quick ratio of 1.11. The business's 50-day moving average price is $24.49 and its two-hundred day moving average price is $17.88. The company has a market capitalization of $9.65 billion, a price-to-earnings ratio of -54.09, a P/E/G ratio of 2.25 and a beta of 2.34.

Oscar Health (NYSE:OSCR - Get Free Report) last issued its quarterly earnings results 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. The business 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 firm's revenue for the quarter was up 52.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.92 earnings per share. Research analysts predict that Oscar Health, Inc. will post 0.47 earnings per share for the current year.

Insider Activity at Oscar Health

In related news, insider Adam Mcananey sold 9,859 shares of the company's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $21.94, for a total transaction of $216,306.46. Following the completion of the sale, the insider owned 218,096 shares of the company's stock, valued at $4,785,026.24. This represents a 4.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through 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, CEO Mark T. Bertolini sold 624,244 shares of the stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $28.48, for a total transaction 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. The trade was a 7.45% decrease in their ownership of the stock. 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 a total of 3,662,466 shares of company stock worth $105,145,815 in the last quarter. 25.11% of the stock is currently owned by corporate insiders.

Institutional Trading of Oscar Health

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

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