Oscar Health (NYSE:OSCR) Sees Strong Trading Volume - Time to Buy?

Shares of Oscar Health, Inc. (NYSE:OSCR - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 9,507,229 shares were traded during mid-day 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.

Analyst Upgrades and Downgrades

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

Oscar Health Stock Performance

The company has a fifty day moving average of $15.21 and a two-hundred day moving average of $14.60. The firm has a market capitalization of $5.19 billion, a price-to-earnings ratio of 72.74 and a beta of 1.73. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.88 and a current ratio of 0.88.

Oscar Health (NYSE:OSCR - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.09. The firm had revenue of $3 billion for the quarter, compared to analysts' expectations of $2.87 billion. Oscar Health had a return on equity of 10.59% and a net margin of 1.22%. The company's quarterly revenue was up 42.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.62 EPS. As a group, equities research analysts predict that Oscar Health, Inc. will post 0.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

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 stock was sold at an average price of $16.43, for a total transaction of $410,750.00. Following the sale, the director now owns 64,512 shares of the company's stock, valued at $1,059,932.16. This represents a 27.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 24.39% of the company's stock.

Hedge Funds Weigh In On Oscar Health

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its holdings in shares of Oscar Health by 348.7% during the 4th quarter. JPMorgan Chase & Co. now owns 10,360,529 shares of the company's stock worth $139,246,000 after purchasing an additional 8,051,379 shares in the last quarter. BIT Capital GmbH lifted its position in Oscar Health by 5,711.6% during the fourth quarter. BIT Capital GmbH now owns 4,473,853 shares of the company's stock worth $60,129,000 after purchasing an additional 4,396,872 shares during the period. Deerfield Management Company L.P. Series C grew its stake in Oscar Health by 50.7% during the fourth quarter. Deerfield Management Company L.P. Series C now owns 11,835,000 shares of the company's stock worth $159,062,000 after buying an additional 3,983,325 shares in the last quarter. Nuveen LLC bought a new position in Oscar Health in the 1st quarter valued at about $29,684,000. Finally, Gilder Gagnon Howe & Co. LLC increased its holdings in Oscar Health by 51.4% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 6,335,862 shares of the company's stock valued at $85,154,000 after buying an additional 2,151,256 shares during the period. 75.70% of the stock is owned by institutional investors and hedge funds.

About Oscar Health

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.