Oscar Health (NYSE:OSCR) Shares Gap Down - Time to Sell?

Key Points

• Oscar Health's shares gapped down from $18.73 to $17.84 before market opening, last trading at $17.57 with significant volume of 6,488,543 shares.
• Several analysts have downgraded Oscar Health's stock ratings, with Wells Fargo slashing its price target from $16.00 to $10.00 and UBS lowering theirs to $11.00.
• Despite a 29% year-over-year revenue increase to $2.86 billion, Oscar Health reported a loss of ($0.89) earnings per share, slightly outperforming analyst estimates of ($0.90).

Oscar Health, Inc. (NYSE:OSCR - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $18.73, but opened at $17.84. Oscar Health shares last traded at $17.57, with a volume of 6,488,543 shares.

Analysts Set New Price Targets

A number of brokerages have issued reports on OSCR. Piper Sandler reduced their price objective on shares of Oscar Health from $14.00 to $13.00 and set a "neutral" rating on the stock in a research report on Thursday, August 14th. Barclays reduced their price objective on shares of Oscar Health from $17.00 to $11.00 and set an "underweight" rating on the stock in a research report on Wednesday, July 23rd. Baird R W downgraded shares of Oscar Health from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. Robert W. Baird reissued a "neutral" rating and set a $14.00 price objective (down from $28.00) on shares of Oscar Health in a research report on Friday, July 25th. Finally, Wells Fargo & Company downgraded shares of Oscar Health from an "equal weight" rating to an "underweight" rating and reduced their price objective for the company from $16.00 to $10.00 in a research report on Friday, July 11th. Four analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company's stock. According to MarketBeat.com, Oscar Health presently has a consensus rating of "Strong Sell" and an average target price of $12.07.

Oscar Health Stock Down 0.7%

The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26. The firm has a market cap of $4.90 billion, a P/E ratio of -23.42 and a beta of 1.87. The company's 50 day simple moving average is $16.19 and its 200-day simple moving average is $15.27.

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

Institutional Investors Weigh In On Oscar Health

Hedge funds and other institutional investors have recently made changes to their positions in the business. LRI Investments LLC increased its position in shares of Oscar Health by 377.9% during the 2nd quarter. LRI Investments LLC now owns 1,233 shares of the company's stock valued at $26,000 after purchasing an additional 975 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in Oscar Health by 7,473.3% in the 1st 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 in the last quarter. Strs Ohio purchased a new stake in Oscar Health in the 1st quarter worth approximately $30,000. Larson Financial Group LLC grew its holdings in Oscar Health by 83,733.3% during the 1st quarter. Larson Financial Group LLC now owns 2,515 shares of the company's stock valued at $33,000 after buying an additional 2,512 shares in the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new stake in Oscar Health during the 2nd quarter valued at approximately $33,000. Hedge funds and other institutional investors own 75.70% of the company's stock.

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.