Oscar Health (NYSE:OSCR) Reaches New 12-Month High - Here's Why

Key Points

• Oscar Health shares reached a new 52-week high of $33.48 before trading at $31.31, despite a 3.1% decline during the session. The stock’s 50-day and 200-day moving averages were $29.95 and $21.37, respectively.
• The company reported quarterly EPS of $1.10, beating the $0.40 consensus estimate, while revenue rose 70.4% year over year to $4.88 billion. Analysts expect full-year EPS of $1.54.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and average price target of $26.22, below the current trading level. Insiders have sold 3.58 million shares worth roughly $103.4 million over the past three months.

Oscar Health, Inc. (NYSE:OSCR - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $33.48 and last traded at $31.31, with a volume of 6863353 shares traded. The stock had previously closed at $32.30.

Wall Street Analysts Forecast Growth

OSCR has been the subject of a number of analyst reports. Robert W. Baird set a $27.00 price target on shares of Oscar Health in a research report on Friday, August 7th. Barclays raised their price objective on Oscar Health from $35.00 to $39.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Wells Fargo & Company lifted their price objective on Oscar Health from $20.00 to $27.00 and gave the company an "equal weight" rating in a report on Thursday, August 13th. Wolfe Research assumed coverage on Oscar Health in a report on Tuesday, May 5th. They set a "peer perform" rating on the stock. Finally, Zacks Research raised Oscar Health from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $26.22.

Oscar Health Trading Down 3.1%

The firm's 50-day simple moving average is $29.95 and its 200 day simple moving average is $21.37. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market capitalization of $9.66 billion, a price-to-earnings ratio of 22.36, a P/E/G ratio of 0.67 and a beta of 2.36.

Oscar Health (NYSE:OSCR - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $1.10 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.70. Oscar Health had a return on equity of 38.45% and a net margin of 3.60%.The firm had revenue of $4.88 billion for the quarter, compared to the consensus estimate of $4.73 billion. During the same quarter last year, the business posted ($0.89) EPS. The company's revenue was up 70.4% compared to the same quarter last year. Equities analysts expect that Oscar Health, Inc. will post 1.54 earnings per share for the current year.

Insiders Place Their Bets

In other Oscar Health news, Director Mario Schlosser sold 880,000 shares of the business's stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $29.38, for a total transaction of $25,854,400.00. Following the completion of the transaction, the director owned 480,866 shares of the company's stock, valued at approximately $14,127,843.08. The trade was a 64.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Janet Liang sold 12,475 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was 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 trade represents a 4.59% 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. In the last three months, insiders have sold 3,581,216 shares of company stock worth $103,424,940. Insiders own 22.64% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of OSCR. GAMMA Investing LLC raised its holdings in Oscar Health by 32.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,441 shares of the company's stock valued at $41,000 after buying an additional 357 shares during the last quarter. Focus Partners Wealth increased its position in shares of Oscar Health by 1.4% in the third quarter. Focus Partners Wealth now owns 57,787 shares of the company's stock valued at $1,094,000 after acquiring an additional 824 shares during the period. Equitable Holdings Inc. increased its position in shares of Oscar Health by 7.0% in the fourth quarter. Equitable Holdings Inc. now owns 12,975 shares of the company's stock valued at $186,000 after acquiring an additional 850 shares during the period. Captrust Financial Advisors raised its stake in shares of Oscar Health by 2.0% during the fourth quarter. Captrust Financial Advisors now owns 45,754 shares of the company's stock valued at $657,000 after acquiring an additional 895 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its holdings in shares of Oscar Health by 5.6% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 17,774 shares of the company's stock worth $255,000 after purchasing an additional 938 shares during the period. 75.70% of the stock is currently owned by institutional investors and hedge funds.

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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