Oscar Health (NYSE:OSCR) Sees Large Volume Increase - Time to Buy?

Shares of Oscar Health, Inc. (NYSE:OSCR - Get Free Report) saw unusually-high trading volume on Monday . Approximately 18,066,473 shares traded hands during trading, an increase of 186% from the previous session's volume of 6,326,420 shares.The stock last traded at $16.60 and had previously closed at $16.47.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Wells Fargo & Company cut shares of Oscar Health from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $20.00 to $16.00 in a report on Thursday, March 13th. Barclays began coverage on Oscar Health in a research note on Wednesday, July 2nd. They issued an "underweight" rating and a $17.00 price target for the company. Raymond James Financial downgraded Oscar Health from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 24th. Piper Sandler lowered their price objective on Oscar Health from $25.00 to $18.00 and set an "overweight" rating for the company in a research report on Monday, June 9th. Finally, Wall Street Zen lowered Oscar Health from a "buy" rating to a "hold" rating in a research report on Sunday, June 8th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Oscar Health currently has an average rating of "Hold" and an average target price of $16.58.

Oscar Health Trading Up 0.9%

The firm has a 50-day moving average price of $16.02 and a 200-day moving average price of $14.82. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market cap of $4.23 billion, a PE ratio of 59.38 and a beta of 1.90.

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

Insider Activity

In related news, Director Elbert O. Jr. Robinson sold 25,000 shares of the business's 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 completion of the transaction, the director directly owned 64,512 shares in the company, valued at approximately $1,059,932.16. The trade was a 27.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 25.11% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Jones Financial Companies Lllp grew its stake 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 acquiring an additional 2,242 shares during the period. Strs Ohio purchased a new position in Oscar Health in the 1st quarter worth approximately $30,000. Larson Financial Group LLC lifted its holdings in Oscar Health by 83,733.3% in the 1st quarter. Larson Financial Group LLC now owns 2,515 shares of the company's stock worth $33,000 after purchasing an additional 2,512 shares in the last quarter. CWM LLC lifted its holdings in Oscar Health by 50.7% in the 1st quarter. CWM LLC now owns 3,204 shares of the company's stock worth $42,000 after purchasing an additional 1,078 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in Oscar Health by 484.6% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 3,443 shares of the company's stock worth $45,000 after purchasing an additional 2,854 shares in the last quarter. 75.70% of the stock is currently owned by institutional investors.

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.

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