Oscar Health (NYSE:OSCR) Sees Large Volume Increase - Still a Buy?

Oscar Health, Inc. (NYSE:OSCR - Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 6,412,073 shares were traded during trading, an increase of 30% from the previous session's volume of 4,935,406 shares.The stock last traded at $17.10 and had previously closed at $16.11.

Analyst Upgrades and Downgrades

Several analysts recently commented on OSCR shares. Wall Street Zen downgraded shares of Oscar Health from a "buy" rating to a "hold" rating in a research report on Sunday, June 8th. Piper Sandler cut their price objective on shares of Oscar Health from $25.00 to $18.00 and set an "overweight" rating on the stock in a research report on Monday, June 9th. Finally, Wells Fargo & Company downgraded shares of Oscar Health from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $20.00 to $16.00 in a research report on Thursday, March 13th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, Oscar Health has a consensus rating of "Hold" and a consensus target price of $16.50.

Oscar Health Stock Performance

The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.22. The company has a market cap of $5.42 billion, a PE ratio of 75.98 and a beta of 1.73. The business's fifty day moving average is $14.59 and its 200-day moving average is $14.50.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.83 by $0.09. The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.87 billion. Oscar Health had a net margin of 1.22% and a return on equity of 10.59%. The firm's revenue was up 42.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.62 earnings per share. As a group, research analysts predict that Oscar Health, Inc. will post 0.69 EPS for the current fiscal year.

Insider Buying and Selling at Oscar Health

In other news, Director Elbert O. Jr. Robinson sold 25,000 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $16.43, for a total value of $410,750.00. Following the transaction, the director now owns 64,512 shares of the company's stock, valued at approximately $1,059,932.16. The trade was a 27.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 24.39% of the company's stock.

Hedge Funds Weigh In On Oscar Health

Hedge funds have recently modified their holdings of the stock. Southeastern Asset Management Inc. TN lifted its holdings in shares of Oscar Health by 52.2% in the fourth quarter. Southeastern Asset Management Inc. TN now owns 3,131,084 shares of the company's stock worth $42,082,000 after buying an additional 1,073,359 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Oscar Health by 37.8% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,741,306 shares of the company's stock worth $23,403,000 after buying an additional 477,634 shares in the last quarter. Man Group plc lifted its holdings in shares of Oscar Health by 344.8% in the fourth quarter. Man Group plc now owns 1,813,216 shares of the company's stock worth $24,370,000 after buying an additional 1,405,554 shares in the last quarter. Toronto Dominion Bank purchased a new stake in Oscar Health during the fourth quarter valued at $1,008,000. Finally, Lingotto Investment Management LLP purchased a new stake in Oscar Health during the fourth quarter valued at $2,543,000. Hedge funds and other institutional investors own 75.70% of the company's stock.

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.