Oscar Health (NYSE:OSCR) Sets New 52-Week High - Here's Why

Key Points

• Oscar Health hit a new 52-week high, briefly trading as high as $26.06 after closing at $24.51 the prior day, signaling strong recent momentum in the stock.
• Recent analyst commentary has been mixed but generally cautious: several firms raised price targets or upgraded the stock, yet the consensus rating remains Hold with an average price target of $20.22.
• The company posted a big earnings beat in its latest quarter, reporting $2.07 EPS versus $1.11 expected and 52.6% year-over-year revenue growth, while insiders recently sold shares under pre-arranged trading plans.

Oscar Health, Inc. (NYSE:OSCR - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $26.06 and last traded at $26.5660, with a volume of 1727899 shares changing hands. The stock had previously closed at $24.51.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on OSCR shares. Jefferies Financial Group upgraded Oscar Health from an "underperform" rating to a "hold" rating and lifted their price target for the company from $10.00 to $16.00 in a report on Monday, April 20th. Wall Street Zen downgraded Oscar Health from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Raymond James Financial upgraded Oscar Health from a "market perform" rating to an "outperform" rating and set a $18.00 target price on the stock in a research note on Thursday, February 12th. Wells Fargo & Company set a $20.00 target price on shares of Oscar Health and gave the stock an "equal weight" rating in a report on Thursday. Finally, Barclays raised their price target on shares of Oscar Health from $21.00 to $30.00 and gave the company an "equal weight" rating in a report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $20.22.

Oscar Health Price Performance

The stock has a 50-day moving average price of $18.39 and a two-hundred day moving average price of $16.07. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.26. The stock has a market cap of $7.92 billion, a price-to-earnings ratio of -44.70, a PEG ratio of 1.71 and a beta of 2.37.

Oscar Health (NYSE:OSCR - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $2.07 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.96. Oscar Health had a negative return on equity of 3.26% and a negative net margin of 0.30%.The business had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter last year, the company earned $0.92 earnings per share. The company's quarterly revenue was up 52.6% on a year-over-year basis. As a group, equities research analysts forecast that Oscar Health, Inc. will post 0.47 EPS for the current year.

Insider Activity

In other Oscar Health news, insider Janet Liang sold 12,475 shares of the firm's stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $21.94, for a total transaction of $273,701.50. Following the completion of the transaction, the insider directly owned 259,057 shares of the company's stock, valued at approximately $5,683,710.58. This trade represents a 4.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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, CAO Victoria Baltrus sold 1,523 shares of Oscar Health stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $21.94, for a total transaction of $33,414.62. Following the sale, the chief accounting officer owned 214,589 shares of the company's stock, valued at approximately $4,708,082.66. The trade was a 0.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Over the last ninety days, insiders sold 189,660 shares of company stock valued at $4,283,140. 25.11% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Thrive Capital Management LLC boosted its stake in shares of Oscar Health by 33.4% in the fourth quarter. Thrive Capital Management LLC now owns 6,343,617 shares of the company's stock worth $85,258,000 after buying an additional 1,588,395 shares during the last quarter. Baird Financial Group Inc. purchased a new position in Oscar Health during the first quarter valued at approximately $159,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Oscar Health by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 215,650 shares of the company's stock valued at $2,827,000 after acquiring an additional 8,879 shares during the period. Jones Financial Companies Lllp boosted its position in Oscar Health by 7,473.3% in the 1st quarter. Jones Financial Companies Lllp now owns 2,272 shares of the company's stock worth $30,000 after purchasing an additional 2,242 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Oscar Health by 39.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 470,590 shares of the company's stock worth $6,169,000 after purchasing an additional 132,149 shares in the last quarter. 75.70% of the stock is currently owned by institutional investors and hedge funds.

About Oscar Health

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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