Oscar Health (NYSE:OSCR) Sees Strong Trading Volume - Should You Buy?

Oscar Health, Inc. (NYSE:OSCR - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 18,066,473 shares changed 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.

Analysts Set New Price Targets

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

Oscar Health Stock Performance

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 firm has a market capitalization of $4.28 billion, a price-to-earnings ratio of 59.96 and a beta of 1.90. The company has a 50-day moving average of $16.10 and a 200-day moving average of $14.83.

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

Insider Activity

In related news, Director Elbert O. Jr. Robinson sold 25,000 shares of the company'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 sale, the director directly owned 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 legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 25.11% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp grew its stake in Oscar Health by 7,473.3% during the 1st quarter. Jones Financial Companies Lllp now owns 2,272 shares of the company's stock worth $30,000 after buying an additional 2,242 shares during the last quarter. Strs Ohio bought a new position in Oscar Health during the 1st quarter worth $30,000. Larson Financial Group LLC grew its stake in Oscar Health by 83,733.3% during the 1st quarter. Larson Financial Group LLC now owns 2,515 shares of the company's stock worth $33,000 after buying an additional 2,512 shares during the last quarter. CWM LLC grew its stake in Oscar Health by 50.7% during the 1st quarter. CWM LLC now owns 3,204 shares of the company's stock worth $42,000 after buying an additional 1,078 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its stake 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 worth $45,000 after buying an additional 2,854 shares during 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.