Oscar Health (NYSE:OSCR) Reaches New 52-Week High - Time to Buy?

Key Points

• Oscar Health shares reached a new 52-week high of $33.27, significantly above the prior close of $30.78. The stock has a consensus “Hold” rating and an average analyst price target of $26.22, below its recent trading level.
• The company delivered strong quarterly results, reporting adjusted earnings of $1.10 per share versus estimates of $0.40 and revenue of $4.88 billion, up 70.4% year over year and above expectations.
• Institutional investors own 75.7% of Oscar Health, while insiders have sold 3.56 million shares worth approximately $102.8 million over the past 90 days, including sales by the CEO under pre-arranged plans to cover tax obligations.

Oscar Health, Inc. (NYSE:OSCR - Get Free Report) shares hit a new 52-week high during trading on Saturday . The company traded as high as $33.27 and last traded at $32.6790, with a volume of 6589261 shares. The stock had previously closed at $30.78.

Analysts Set New Price Targets

A number of research firms have recently weighed in on OSCR. Wells Fargo & Company raised their target price on Oscar Health from $20.00 to $27.00 and gave the company an "equal weight" rating in a report on Thursday. Piper Sandler reiterated an "overweight" rating and set a $36.00 price target on shares of Oscar Health in a report on Tuesday, July 28th. Robert W. Baird set a $27.00 price objective on Oscar Health in a research note on Friday, August 7th. Wall Street Zen raised shares of Oscar Health from a "buy" rating to a "strong-buy" rating in a report on Sunday, June 14th. Finally, Weiss Ratings upgraded shares of Oscar Health from a "sell (d+)" rating to a "hold (c+)" rating in a research note on Tuesday. One investment 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $26.22.

Oscar Health Price Performance

The stock has a market cap of $10.09 billion, a PE ratio of 23.34, a P/E/G ratio of 0.63 and a beta of 2.36. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.11 and a current ratio of 1.09. The business has a 50 day moving average price of $29.65 and a two-hundred day moving average price of $20.85.

Oscar Health (NYSE:OSCR - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $1.10 EPS 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 company had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $4.73 billion. During the same period last year, the business posted ($0.89) earnings per share. Oscar Health's revenue was up 70.4% on a year-over-year basis. Research analysts expect that Oscar Health, Inc. will post 1.54 earnings per share for the current fiscal year.

Insider Activity at Oscar Health

In other news, insider Adam Mcananey sold 9,859 shares of Oscar Health stock in a transaction 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 sale, the insider directly owned 218,096 shares in the company, valued at $4,785,026.24. The trade was a 4.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 business's 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 completion of the transaction, the chief executive officer directly owned 7,751,570 shares in the company, valued at $220,764,713.60. This trade represents a 7.45% decrease in their ownership of the stock. 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. Over the last ninety days, insiders sold 3,562,466 shares of company stock worth $102,829,815. 22.64% of the stock is owned by company insiders.

Institutional Investors Weigh In On Oscar Health

Large investors have recently modified their holdings of the stock. BIT Capital GmbH lifted its stake in Oscar Health by 545.0% in the fourth quarter. BIT Capital GmbH now owns 6,186,267 shares of the company's stock valued at $88,897,000 after purchasing an additional 5,227,152 shares during the last quarter. Morgan Stanley increased its position in Oscar Health by 42.8% in the fourth quarter. Morgan Stanley now owns 6,814,046 shares of the company's stock worth $97,918,000 after buying an additional 2,043,758 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Oscar Health by 205.1% in 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 buying an additional 1,922,732 shares during the period. Thrive Capital Management LLC lifted its position in shares of Oscar Health by 33.4% during the 4th quarter. Thrive Capital Management LLC now owns 6,343,617 shares of the company's stock valued at $85,258,000 after buying an additional 1,588,395 shares during the last quarter. Finally, Wedge Capital Management L L P NC purchased a new position in shares of Oscar Health during the 2nd quarter valued at $32,855,000. Hedge funds and other institutional investors own 75.70% of the company's stock.

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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