Oscar Health (NYSE:OSCR) Trading Down 6.2% - What's Next?

Shares of Oscar Health, Inc. (NYSE:OSCR - Get Free Report) traded down 6.2% during trading on Wednesday . The stock traded as low as $14.10 and last traded at $14.07. 2,929,629 shares changed hands during mid-day trading, a decline of 32% from the average session volume of 4,323,102 shares. The stock had previously closed at $15.01.

Wall Street Analysts Forecast Growth

OSCR has been the subject of a number of recent research reports. Wells Fargo & Company cut shares of Oscar Health from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $20.00 to $16.00 in a research note on Thursday, March 13th. Wall Street Zen upgraded shares of Oscar Health from a "hold" rating to a "buy" rating in a research note on Saturday. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $18.50.

Oscar Health Price Performance

The company has a market cap of $3.51 billion, a price-to-earnings ratio of -688.16 and a beta of 1.75. The company's 50 day moving average price is $13.73 and its 200 day moving average price is $14.60. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.26.

Oscar Health (NYSE:OSCR - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.09. Oscar Health had a return on equity of 2.28% and a net margin of 0.28%. The company had revenue of $3 billion for the quarter, compared to analysts' expectations of $2.87 billion. During the same quarter in the previous year, the firm posted $0.62 EPS. The firm's quarterly revenue was up 42.2% on a year-over-year basis. Equities research analysts forecast that Oscar Health, Inc. will post 0.69 earnings per share for the current year.

Insider Buying and Selling

In other Oscar Health news, Director Elbert O. Jr. Robinson sold 25,000 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $16.43, for a total value of $410,750.00. Following the sale, the director now owns 64,512 shares of the company's stock, valued at approximately $1,059,932.16. This represents 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 accessible through the SEC website. 24.39% of the stock is owned by insiders.

Hedge Funds Weigh In On Oscar Health

Hedge funds have recently added to or reduced their stakes in the business. Hsbc Holdings PLC grew its position in shares of Oscar Health by 2.7% in the first quarter. Hsbc Holdings PLC now owns 24,113 shares of the company's stock valued at $313,000 after purchasing an additional 632 shares during the last quarter. Tempus Wealth Planning LLC raised its holdings in shares of Oscar Health by 6.7% in the first quarter. Tempus Wealth Planning LLC now owns 14,392 shares of the company's stock worth $189,000 after acquiring an additional 906 shares during the last quarter. Focus Partners Wealth boosted its stake in shares of Oscar Health by 1.8% during the first quarter. Focus Partners Wealth now owns 55,158 shares of the company's stock valued at $723,000 after acquiring an additional 949 shares during the last quarter. Xponance Inc. raised its stake in Oscar Health by 7.1% in the 1st quarter. Xponance Inc. now owns 15,423 shares of the company's stock valued at $202,000 after purchasing an additional 1,029 shares during the last quarter. Finally, CWM LLC raised its stake in Oscar Health by 50.7% in the 1st quarter. CWM LLC now owns 3,204 shares of the company's stock valued at $42,000 after purchasing an additional 1,078 shares during the last quarter. 75.70% of the stock is currently owned by hedge funds and other institutional investors.

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.