Oscar Health (NYSE:OSCR) Sees Large Volume Increase - Here's Why

Oscar Health, Inc. (NYSE:OSCR - Get Free Report) saw an uptick in trading volume on Monday . 8,918,452 shares changed hands during trading, an increase of 27% from the previous session's volume of 7,035,828 shares.The stock last traded at $15.03 and had previously closed at $14.38.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company lowered shares of Oscar Health from an "equal weight" rating to an "underweight" rating and reduced their target price for the stock from $16.00 to $10.00 in a report on Friday. Barclays assumed coverage on shares of Oscar Health in a report on Wednesday, July 2nd. They issued an "underweight" rating and a $17.00 target price for the company. Raymond James Financial lowered shares of Oscar Health from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 24th. Wall Street Zen lowered shares of Oscar Health from a "buy" rating to a "hold" rating in a report on Sunday, June 8th. Finally, Piper Sandler reissued a "neutral" rating and issued a $14.00 target price on shares of Oscar Health in a report on Monday. Four research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $14.92.

Oscar Health Stock Up 5.5%

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 $3.86 billion, a P/E ratio of 54.17 and a beta of 1.90. The company has a 50 day simple moving average of $16.35 and a two-hundred day simple moving average of $14.90.

Oscar Health (NYSE:OSCR - Get Free Report) last issued its quarterly earnings results 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. Oscar Health had a return on equity of 10.59% and a net margin of 1.22%. The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.87 billion. During the same period last year, the company earned $0.62 earnings per share. Oscar Health's revenue was up 42.2% on a year-over-year basis. On average, equities analysts predict that Oscar Health, Inc. will post 0.69 EPS for the current fiscal year.

Insider Transactions at Oscar Health

In other Oscar Health news, Director Elbert O. Jr. Robinson sold 25,000 shares of Oscar Health stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $16.43, for a total value of $410,750.00. Following the transaction, the director owned 64,512 shares in the company, valued at $1,059,932.16. The trade was a 27.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 25.11% of the stock is owned by company insiders.

Institutional Investors Weigh In On Oscar Health

Institutional investors and hedge funds have recently modified their holdings of the company. Jones Financial Companies Lllp raised 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 worth $30,000 after buying an additional 2,242 shares during the period. Strs Ohio acquired a new position in shares of Oscar Health during the 1st quarter worth approximately $30,000. Larson Financial Group LLC raised its stake in shares of 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 period. CWM LLC raised its stake in shares of 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 period. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of 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 period. 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.