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

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) shares gapped down before the market opened 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.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on OSCR shares. Wells Fargo & Company cut shares of Oscar Health from an "equal weight" rating to an "underweight" rating and decreased their price target for the stock from $16.00 to $10.00 in a research note on Friday, July 11th. Baird R W downgraded Oscar Health from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. Robert W. Baird reissued a "neutral" rating and issued a $14.00 price objective (down previously from $28.00) on shares of Oscar Health in a report on Friday, July 25th. UBS Group reissued a "sell" rating and issued a $11.00 price objective (down previously from $15.00) on shares of Oscar Health in a report on Tuesday, July 15th. Finally, Raymond James Financial downgraded Oscar Health from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 24th. Four analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, Oscar Health presently has an average rating of "Strong Sell" and a consensus price target of $12.07.

Oscar Health Stock Performance

The company has a debt-to-equity ratio of 0.26, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a 50-day simple moving average of $15.96 and a 200-day simple moving average of $15.18. The stock has a market cap of $4.69 billion, a P/E ratio of -22.40 and a beta of 1.87.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of OSCR. BNP Paribas Financial Markets acquired a new position in Oscar Health in the fourth quarter valued at approximately $590,000. Cetera Investment Advisers lifted its stake in Oscar Health by 17.1% in the fourth quarter. Cetera Investment Advisers now owns 27,066 shares of the company's stock valued at $364,000 after buying an additional 3,961 shares during the period. Deutsche Bank AG increased its holdings in shares of Oscar Health by 51.2% during the fourth quarter. Deutsche Bank AG now owns 172,127 shares of the company's stock valued at $2,313,000 after acquiring an additional 58,282 shares in the last quarter. Focus Partners Wealth bought a new stake in shares of Oscar Health during the fourth quarter valued at approximately $729,000. Finally, Nuveen Asset Management LLC increased its holdings in shares of Oscar Health by 1.0% during the fourth quarter. Nuveen Asset Management LLC now owns 2,356,298 shares of the company's stock valued at $31,669,000 after acquiring an additional 23,237 shares in the last quarter. Institutional investors own 75.70% of the company's stock.

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.

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