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

Oscar Health, Inc. (NYSE:OSCR - Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $21.22, but opened at $19.74. Oscar Health shares last traded at $21.02, with a volume of 11,129,490 shares.

Analyst Upgrades and Downgrades

OSCR has been the topic of a number of recent research reports. Piper Sandler reduced their price objective on shares of Oscar Health from $25.00 to $18.00 and set an "overweight" rating on the stock in a research note on Monday, June 9th. Wall Street Zen downgraded Oscar Health from a "buy" rating to a "hold" rating in a research note on Sunday, June 8th. Finally, Wells Fargo & Company cut Oscar Health from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $20.00 to $16.00 in a research note on Thursday, March 13th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $16.50.

Oscar Health Price Performance

The company's 50 day simple moving average is $14.59 and its 200 day simple moving average is $14.47. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market cap of $5.08 billion, a P/E ratio of 71.46 and a beta of 1.73.

Oscar Health (NYSE:OSCR - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.09. The business had revenue of $3 billion during the quarter, compared to analysts' expectations of $2.87 billion. Oscar Health had a net margin of 1.22% and a return on equity of 10.59%. The firm's quarterly revenue was up 42.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.62 EPS. As a group, equities analysts forecast that Oscar Health, Inc. will post 0.69 earnings per share for the current year.

Insiders Place Their Bets

In other Oscar Health news, Director Elbert O. Jr. Robinson sold 25,000 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $16.43, for a total transaction of $410,750.00. Following the completion of the transaction, the director now owns 64,512 shares in the company, valued at approximately $1,059,932.16. This represents a 27.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 25.11% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of OSCR. JPMorgan Chase & Co. boosted its stake in shares of Oscar Health by 348.7% during the 4th quarter. JPMorgan Chase & Co. now owns 10,360,529 shares of the company's stock worth $139,246,000 after acquiring an additional 8,051,379 shares during the period. BIT Capital GmbH lifted its holdings in Oscar Health by 5,711.6% during the 4th quarter. BIT Capital GmbH now owns 4,473,853 shares of the company's stock valued at $60,129,000 after purchasing an additional 4,396,872 shares during the last quarter. Deerfield Management Company L.P. Series C boosted its position in Oscar Health by 50.7% during the fourth quarter. Deerfield Management Company L.P. Series C now owns 11,835,000 shares of the company's stock worth $159,062,000 after purchasing an additional 3,983,325 shares during the period. Nuveen LLC acquired a new position in shares of Oscar Health in the first quarter valued at $29,684,000. Finally, Gilder Gagnon Howe & Co. LLC lifted its stake in shares of Oscar Health by 51.4% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 6,335,862 shares of the company's stock worth $85,154,000 after buying an additional 2,151,256 shares during the last quarter. 75.70% of the stock is owned by institutional investors and hedge funds.

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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