Oscar Health (NYSE:OSCR) Sets New 1-Year High - Here's Why

Key Points

• Oscar Health shares hit a new 52-week high, reaching $29.81 intraday before closing at $29.20. The move came on volume of about 710,935 shares.
• Recent earnings were stronger than expected, with Oscar Health reporting $2.07 EPS versus analyst estimates of $1.11. Revenue rose 52.6% year over year to $4.65 billion, though it still missed Wall Street’s revenue forecast.
• Analysts remain mostly cautious despite the rally, with the stock carrying an average “Hold” rating and an average target price of $20.78. Recent rating changes included higher target prices from Jefferies and UBS, but most analysts still rate the stock neutral or hold.

Oscar Health, Inc. (NYSE:OSCR - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $29.81 and last traded at $29.20, with a volume of 710935 shares changing hands. The stock had previously closed at $29.14.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on OSCR. Weiss Ratings raised shares of Oscar Health from a "sell (d)" rating to a "sell (d+)" rating in a report on Tuesday, June 9th. Wolfe Research began coverage on shares of Oscar Health in a research report on Tuesday, May 5th. They issued a "peer perform" rating on the stock. Jefferies Financial Group raised Oscar Health from an "underperform" rating to a "hold" rating and upped their price target for the company from $10.00 to $16.00 in a report on Monday, April 20th. UBS Group increased their price objective on Oscar Health from $15.00 to $20.00 and gave the company a "neutral" rating in a research report on Thursday, May 7th. Finally, Wall Street Zen raised Oscar Health from a "buy" rating to a "strong-buy" rating in a research note on Sunday. Three analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $20.78.

Oscar Health Stock Performance

The firm's fifty day simple moving average is $20.39 and its 200 day simple moving average is $16.63. The company has a market capitalization of $8.81 billion, a price-to-earnings ratio of -49.54, a PEG ratio of 1.98 and a beta of 2.37. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.11 and a quick ratio of 1.11.

Oscar Health (NYSE:OSCR - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $2.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.11 by $0.96. Oscar Health had a negative net margin of 0.30% and a negative return on equity of 3.26%. The business had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same quarter in the previous year, the business earned $0.92 earnings per share. The firm's revenue was up 52.6% compared to the same quarter last year. On average, sell-side analysts forecast that Oscar Health, Inc. will post 0.47 EPS for the current year.

Insider Activity

In related news, insider Janet Liang sold 12,475 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $21.94, for a total value of $273,701.50. Following the completion of the sale, the insider directly owned 259,057 shares of the company's stock, valued at approximately $5,683,710.58. This represents a 4.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Mark T. Bertolini bought 1,000,000 shares of the company's stock in a transaction dated Monday, April 6th. The stock was acquired at an average price of $11.92 per share, for a total transaction of $11,920,000.00. Following the acquisition, the chief executive officer directly owned 10,196,876 shares in the company, valued at $121,546,761.92. This trade represents a 10.87% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 189,660 shares of company stock valued at $4,283,140 in the last ninety days. Corporate insiders own 25.11% of the company's stock.

Institutional Investors Weigh In On Oscar Health

A number of hedge funds and other institutional investors have recently made changes to their positions in OSCR. BIT Capital GmbH lifted its holdings in shares of Oscar Health by 545.0% during the 4th quarter. BIT Capital GmbH now owns 6,186,267 shares of the company's stock valued at $88,897,000 after buying an additional 5,227,152 shares during the last quarter. American Century Companies Inc. raised its position in Oscar Health by 89.0% during the third quarter. American Century Companies Inc. now owns 5,298,340 shares of the company's stock valued at $100,298,000 after acquiring an additional 2,495,691 shares in the last quarter. Farallon Capital Management LLC lifted its stake in Oscar Health by 146.5% in the third quarter. Farallon Capital Management LLC now owns 3,639,000 shares of the company's stock valued at $68,886,000 after acquiring an additional 2,163,000 shares during the last quarter. Morgan Stanley lifted its stake in Oscar Health by 42.8% in the fourth quarter. Morgan Stanley now owns 6,814,046 shares of the company's stock valued at $97,918,000 after acquiring an additional 2,043,758 shares during the last quarter. Finally, Bank of America Corp DE grew its position in Oscar Health by 205.1% in the first quarter. Bank of America Corp DE now owns 2,860,310 shares of the company's stock worth $32,808,000 after acquiring an additional 1,922,732 shares in the last quarter. 75.70% of the stock is owned by hedge funds and other institutional investors.

Oscar Health Company Profile

Oscar Health, trading on the New York Stock Exchange under the ticker OSCR, is a technology-driven health insurance company headquartered in New York, New York. Founded in 2012 by Mario Schlosser, Joshua Kushner and Kevin Nazemi, the company was built with the goal of simplifying healthcare coverage and enhancing member experience. Oscar leverages a proprietary digital platform to streamline plan enrollment, claims administration and member support, distinguishing itself in the individual, family and small group insurance markets.

The company's primary products include on-exchange individual and family medical plans under the Affordable Care Act, off-exchange plans, as well as Medicare Advantage offerings.

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