Oscar Health (NYSE:OSCR) Shares Down 4.3% - Here's Why

Key Points

• Oscar Health's stock price fell4.3% to $21.50, significantly below its previous close of $22.47, with trading volume declining by 80% from the average.
• Recent analyst ratings show a predominantly negative outlook, with four analysts rating the stock as Hold and six giving it a Sell rating, resulting in a consensus rating of "Strong Sell".
• Insider activity revealed that CEO Mario Schlosser sold 395,000 shares, reducing his ownership by 44.08% and highlighting concerns about the company's share value.

Oscar Health, Inc. (NYSE:OSCR - Get Free Report)'s stock price dropped 4.3% on Wednesday . The stock traded as low as $21.77 and last traded at $21.50. Approximately 2,879,946 shares traded hands during trading, a decline of 80% from the average daily volume of 14,205,504 shares. The stock had previously closed at $22.47.

Analyst Upgrades and Downgrades

OSCR has been the subject of several recent research reports. Weiss Ratings restated a "sell (d)" rating on shares of Oscar Health in a report on Wednesday. Raymond James Financial downgraded shares of Oscar Health from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 24th. Baird R W downgraded shares of Oscar Health from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. Piper Sandler decreased their price target on shares of Oscar Health from $14.00 to $13.00 and set a "neutral" rating on the stock in a research note on Thursday, August 14th. Finally, Robert W. Baird reaffirmed a "neutral" rating and set a $14.00 price target (down from $28.00) on shares of Oscar Health in a research note on Friday, July 25th. Four investment analysts have rated the stock with a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat, Oscar Health presently has a consensus rating of "Strong Sell" and a consensus price target of $12.64.

Oscar Health Price Performance

The company's 50-day moving average is $17.38 and its 200-day moving average is $15.73. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market capitalization of $5.56 billion, a price-to-earnings ratio of -26.64 and a beta of 1.89.

Oscar Health (NYSE:OSCR - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($0.89) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.90) by $0.01. Oscar Health had a negative net margin of 1.50% and a negative return on equity of 13.78%. The business had revenue of $2.86 billion for the quarter, compared to analysts' expectations of $2.88 billion. During the same period last year, the company earned $0.20 earnings per share. The company's quarterly revenue was up 29.0% on a year-over-year basis. On average, research analysts expect that Oscar Health, Inc. will post 0.69 earnings per share for the current year.

Insider Activity

In other Oscar Health news, insider Mario Schlosser sold 395,000 shares of Oscar Health stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $18.43, for a total transaction of $7,279,850.00. Following the transaction, the insider directly owned 501,148 shares of the company's stock, valued at $9,236,157.64. The trade was a 44.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 25.11% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of OSCR. Osaic Holdings Inc. raised its stake in shares of Oscar Health by 285.6% during the second quarter. Osaic Holdings Inc. now owns 186,997 shares of the company's stock valued at $4,009,000 after purchasing an additional 138,505 shares during the period. Straightline Group LLC increased its stake in shares of Oscar Health by 3.7% in the second quarter. Straightline Group LLC now owns 18,082 shares of the company's stock worth $388,000 after buying an additional 640 shares during the last quarter. Marex Group plc bought a new stake in Oscar Health during the second quarter valued at $266,000. State of Wyoming increased its stake in Oscar Health by 564.7% during the second quarter. State of Wyoming now owns 112,146 shares of the company's stock valued at $2,404,000 after purchasing an additional 95,274 shares during the last quarter. Finally, Hollencrest Capital Management bought a new stake in Oscar Health during the second quarter valued at $64,000. 75.70% of the stock is owned by institutional investors and hedge funds.

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.

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