Oscar Health (NYSE:OSCR) Sees Large Volume Increase - Here's Why

Oscar Health, Inc. (NYSE:OSCR - Get Free Report) saw an uptick in trading volume on Tuesday . 9,507,229 shares changed hands during trading, an increase of 73% from the previous session's volume of 5,510,126 shares.The stock last traded at $19.36 and had previously closed at $20.42.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company lowered Oscar Health from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $20.00 to $16.00 in a research note on Thursday, March 13th. Raymond James Financial lowered Oscar Health from an "outperform" rating to a "market perform" rating in a research note on Tuesday. Wall Street Zen cut Oscar Health from a "buy" rating to a "hold" rating in a research report on Sunday, June 8th. Finally, Piper Sandler reduced their target price on shares of Oscar Health from $25.00 to $18.00 and set an "overweight" rating on the stock in a report on Monday, June 9th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $16.50.

Oscar Health Trading Down 2.4%

The business has a 50 day simple moving average of $14.75 and a 200-day simple moving average of $14.51. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of 71.20 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. Oscar Health had a net margin of 1.22% and a return on equity of 10.59%. The business had revenue of $3 billion for the quarter, compared to analysts' expectations of $2.87 billion. During the same period last year, the company earned $0.62 earnings per share. The company's quarterly revenue was up 42.2% on a year-over-year basis. On average, equities analysts predict that Oscar Health, Inc. will post 0.69 earnings per share for the current year.

Insider Activity

In related news, Director Elbert O. Jr. Robinson sold 25,000 shares of the 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 owns 64,512 shares of the company's stock, valued at approximately $1,059,932.16. This represents a 27.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 25.11% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in OSCR. Jones Financial Companies Lllp raised its holdings in shares of Oscar Health by 7,473.3% during the 1st quarter. Jones Financial Companies Lllp now owns 2,272 shares of the company's stock valued at $30,000 after buying an additional 2,242 shares during the period. Strs Ohio acquired a new position in shares of Oscar Health during the first quarter worth $30,000. Larson Financial Group LLC boosted its stake in shares of Oscar Health by 83,733.3% in the first quarter. Larson Financial Group LLC now owns 2,515 shares of the company's stock valued at $33,000 after purchasing an additional 2,512 shares during the period. CWM LLC boosted its stake in shares of Oscar Health by 50.7% in the first quarter. CWM LLC now owns 3,204 shares of the company's stock valued at $42,000 after purchasing an additional 1,078 shares during the period. Finally, Caitong International Asset Management Co. Ltd grew its holdings in Oscar Health by 484.6% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 3,443 shares of the company's stock valued at $45,000 after purchasing an additional 2,854 shares in the last quarter. 75.70% of the stock is owned by hedge funds and other institutional investors.

Oscar Health Company Profile

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.