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

Oscar Health, Inc. (NYSE:OSCR - Get Free Report)'s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $20.45, but opened at $17.72. Oscar Health shares last traded at $17.41, with a volume of 24,431,414 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on OSCR shares. Piper Sandler lowered their target price on Oscar Health from $25.00 to $18.00 and set an "overweight" rating for the company in a research report on Monday, June 9th. Barclays started coverage on Oscar Health in a research report on Wednesday. They set an "underweight" rating and a $17.00 target price for the company. Wells Fargo & Company lowered Oscar Health from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $20.00 to $16.00 in a research report on Thursday, March 13th. Wall Street Zen lowered Oscar Health from a "buy" rating to a "hold" rating in a research report on Sunday, June 8th. Finally, Raymond James Financial lowered Oscar Health from an "outperform" rating to a "market perform" rating in a research report on Tuesday, June 24th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $16.58.

Oscar Health Stock Performance

The company has a 50-day moving average price of $16.02 and a two-hundred day moving average price of $14.80. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $4.21 billion, a P/E ratio of 59.00 and a beta of 1.90.

Oscar Health (NYSE:OSCR - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.83 by $0.09. The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.87 billion. Oscar Health had a return on equity of 10.59% and a net margin of 1.22%. The firm's revenue for the quarter was up 42.2% compared to the same quarter last year. During the same period last year, the business posted $0.62 EPS. On average, equities analysts forecast that Oscar Health, Inc. will post 0.69 earnings per share for the current year.

Insider Activity at Oscar Health

In other news, Director Elbert O. Jr. Robinson sold 25,000 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $16.43, for a total value of $410,750.00. Following the completion of the sale, the director directly owned 64,512 shares in the company, valued at $1,059,932.16. This trade represents a 27.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 24.39% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Oscar Health

Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its position 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 buying an additional 8,051,379 shares in the last quarter. BIT Capital GmbH lifted its position in shares of Oscar Health by 5,711.6% during the 4th quarter. BIT Capital GmbH now owns 4,473,853 shares of the company's stock worth $60,129,000 after buying an additional 4,396,872 shares in the last quarter. Deerfield Management Company L.P. Series C lifted its position in shares of Oscar Health by 50.7% during the 4th quarter. Deerfield Management Company L.P. Series C now owns 11,835,000 shares of the company's stock worth $159,062,000 after buying an additional 3,983,325 shares in the last quarter. Nuveen LLC bought a new position in shares of Oscar Health during the 1st quarter worth approximately $29,684,000. Finally, Gilder Gagnon Howe & Co. LLC lifted its position 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 in the last quarter. Institutional investors and hedge funds 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.