Oscar Health (NYSE:OSCR) Sees Strong Trading Volume - Here's What Happened

Oscar Health, Inc. (NYSE:OSCR - Get Free Report) shares saw unusually-strong trading volume on Wednesday . Approximately 6,412,073 shares traded hands during mid-day 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

A number of brokerages recently issued reports on OSCR. Wall Street Zen cut Oscar Health from a "buy" rating to a "hold" rating in a report on Sunday, June 8th. Wells Fargo & Company downgraded shares of Oscar Health from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $20.00 to $16.00 in a research report on Thursday, March 13th. Finally, Piper Sandler lowered 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. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $16.50.

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 stock has a 50 day moving average price of $14.16 and a two-hundred day moving average price of $14.45. The company has a market cap of $4.80 billion, a price-to-earnings ratio of 66.81 and a beta of 1.73.

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

Insider Buying and Selling

In other news, Director Elbert O. Jr. Robinson sold 25,000 shares of Oscar Health stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $16.43, for a total value of $410,750.00. Following the completion of the transaction, the director now owns 64,512 shares of the company's stock, valued at $1,059,932.16. This trade represents a 27.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 25.11% of the stock is currently owned by corporate insiders.

Institutional Trading of Oscar Health

Several hedge funds and other institutional investors have recently bought and sold shares of OSCR. Rhumbline Advisers lifted its stake in Oscar Health by 6.0% in the 1st quarter. Rhumbline Advisers now owns 287,458 shares of the company's stock valued at $3,769,000 after purchasing an additional 16,231 shares during the last quarter. Strs Ohio acquired a new position in shares of Oscar Health during the first quarter worth $30,000. Intech Investment Management LLC lifted its stake in shares of Oscar Health by 50.3% in the 1st quarter. Intech Investment Management LLC now owns 139,600 shares of the company's stock valued at $1,830,000 after acquiring an additional 46,748 shares during the last quarter. Focus Partners Wealth boosted its holdings in shares of Oscar Health by 1.8% during the 1st quarter. Focus Partners Wealth now owns 55,158 shares of the company's stock valued at $723,000 after acquiring an additional 949 shares in the last quarter. Finally, SCS Capital Management LLC bought a new stake in Oscar Health during the 1st quarter worth $131,000. Institutional investors and hedge funds own 75.70% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.