Oscar Health (NYSE:OSCR) Shares Down 6.2% - Here's What Happened

Oscar Health, Inc. (NYSE:OSCR - Get Free Report)'s stock price dropped 6.2% on Wednesday . The company traded as low as $14.10 and last traded at $14.07. Approximately 2,929,629 shares traded hands during trading, a decline of 32% from the average daily volume of 4,323,102 shares. The stock had previously closed at $15.01.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on OSCR shares. Wall Street Zen cut shares of Oscar Health from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Wells Fargo & Company lowered shares of Oscar Health from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $20.00 to $16.00 in a research report on Thursday, March 13th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $20.08.

Oscar Health Price Performance

The stock has a market capitalization of $3.54 billion, a P/E ratio of -707.40 and a beta of 1.75. The business has a fifty day simple moving average of $13.73 and a 200-day simple moving average of $14.59. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.73 and a current ratio of 0.73.

Oscar Health (NYSE:OSCR - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.83 by $0.09. The company had revenue of $3 billion for the quarter, compared to analysts' expectations of $2.87 billion. Oscar Health had a return on equity of 2.28% and a net margin of 0.28%. Oscar Health's quarterly revenue was up 42.2% compared to the same quarter last year. During the same period last year, the business earned $0.62 EPS. Sell-side analysts expect that Oscar Health, Inc. will post 0.69 earnings per share for the current fiscal year.

Insider Transactions at Oscar Health

In related 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 directly owns 64,512 shares of the company's stock, valued at $1,059,932.16. This represents a 27.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 24.39% of the stock is owned by insiders.

Institutional Investors Weigh In On Oscar Health

Institutional investors have recently modified their holdings of the stock. Jones Financial Companies Lllp grew its stake in shares of Oscar Health by 7,473.3% in the first quarter. Jones Financial Companies Lllp now owns 2,272 shares of the company's stock worth $30,000 after acquiring an additional 2,242 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of Oscar Health by 83,733.3% during the first quarter. Larson Financial Group LLC now owns 2,515 shares of the company's stock valued at $33,000 after purchasing an additional 2,512 shares in the last quarter. CWM LLC lifted its holdings in Oscar Health by 50.7% in the first quarter. CWM LLC now owns 3,204 shares of the company's stock valued at $42,000 after acquiring an additional 1,078 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in Oscar Health by 484.6% in the first quarter. Caitong International Asset Management Co. Ltd now owns 3,443 shares of the company's stock valued at $45,000 after acquiring an additional 2,854 shares during the period. Finally, Cliffwater LLC bought a new position in shares of Oscar Health in the first quarter worth about $58,000. 75.70% of the stock is owned by hedge funds and other 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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