Oscar Health (NYSE:OSCR) Shares Down 5.1% - What's Next?

Key Points

• Shares of Oscar Health (NYSE:OSCR) fell by 5.1%, closing at $19.03, significantly below its previous closing price of $20.05.
• Multiple analysts have downgraded the stock's target price, with a consensus rating of "Strong Sell" and an average target price of $12.07.
• Oscar Health reported a quarterly revenue of $2.86 billion, which was slightly below analyst expectations, despite a 29.0% increase compared to the previous year.

Shares of Oscar Health, Inc. (NYSE:OSCR - Get Free Report) dropped 5.1% on Wednesday . The stock traded as low as $18.72 and last traded at $19.03. Approximately 6,108,065 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 13,691,993 shares. The stock had previously closed at $20.05.

Analyst Ratings Changes

OSCR has been the subject of several recent research reports. Robert W. Baird reissued a "neutral" rating and issued a $14.00 price target (down previously from $28.00) on shares of Oscar Health in a research note on Friday, July 25th. Piper Sandler decreased their target price on Oscar Health from $14.00 to $13.00 and set a "neutral" rating for the company in a research note on Thursday, August 14th. UBS Group reaffirmed a "sell" rating and set a $11.00 target price (down previously from $15.00) on shares of Oscar Health in a research note on Tuesday, July 15th. Baird R W cut Oscar Health from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. Finally, Wells Fargo & Company cut Oscar Health from an "equal weight" rating to an "underweight" rating and decreased their target price for the stock from $16.00 to $10.00 in a research note on Friday, July 11th. Four research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Strong Sell" and a consensus target price of $12.07.

Oscar Health Stock Down 5.0%

The stock has a fifty day moving average of $15.75 and a 200 day moving average of $15.07. The firm has a market capitalization of $4.92 billion, a P/E ratio of -23.50 and a beta of 1.87. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.86 and a quick ratio of 0.86.

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

Institutional Trading of Oscar Health

Hedge funds have recently bought and sold shares of the business. Nuveen LLC bought a new stake in shares of Oscar Health in the first quarter valued at $29,684,000. Thrive Capital Management LLC raised 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 valued at $85,258,000 after buying an additional 1,588,395 shares during the period. Man Group plc raised its stake in shares of Oscar Health by 344.8% in the fourth quarter. Man Group plc now owns 1,813,216 shares of the company's stock valued at $24,370,000 after buying an additional 1,405,554 shares during the period. Jump Financial LLC raised its stake in shares of Oscar Health by 798.3% in the second quarter. Jump Financial LLC now owns 1,441,506 shares of the company's stock valued at $30,906,000 after buying an additional 1,281,032 shares during the period. Finally, Southeastern Asset Management Inc. TN raised its stake in shares of Oscar Health by 52.2% in the fourth quarter. Southeastern Asset Management Inc. TN now owns 3,131,084 shares of the company's stock valued at $42,082,000 after buying an additional 1,073,359 shares during the period. 75.70% of the stock is currently owned by institutional investors.

Oscar Health Company Profile

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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