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

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 changing hands.

Analyst Upgrades and Downgrades

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

Oscar Health Price Performance

The company has a market cap of $4.22 billion, a P/E ratio of 59.21 and a beta of 1.90. The firm's 50-day moving average is $15.75 and its two-hundred day moving average is $14.74. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.88 and a quick ratio of 0.88.

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

Insider Transactions at Oscar Health

In other news, Director Elbert O. Jr. Robinson sold 25,000 shares of Oscar Health stock in a transaction that occurred 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 completion of the transaction, the director owned 64,512 shares in the company, valued at approximately $1,059,932.16. The trade was a 27.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 24.39% of the stock is currently owned by company insiders.

Institutional Trading of Oscar Health

A number of institutional investors have recently bought and sold shares of OSCR. Vanguard Group Inc. raised its holdings in shares of Oscar Health by 3.7% in the first quarter. Vanguard Group Inc. now owns 19,698,442 shares of the company's stock worth $258,247,000 after buying an additional 700,469 shares during the period. Deerfield Management Company L.P. Series C grew its position in Oscar Health by 50.7% in the 4th quarter. Deerfield Management Company L.P. Series C now owns 11,835,000 shares of the company's stock valued at $159,062,000 after acquiring an additional 3,983,325 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in Oscar Health by 4.1% in the first quarter. T. Rowe Price Investment Management Inc. now owns 11,826,245 shares of the company's stock worth $155,043,000 after purchasing an additional 467,301 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Oscar Health by 348.7% during the fourth quarter. JPMorgan Chase & Co. now owns 10,360,529 shares of the company's stock worth $139,246,000 after purchasing an additional 8,051,379 shares during the last quarter. Finally, Thrive Capital Management LLC lifted its position in shares of Oscar Health by 33.4% during the fourth quarter. Thrive Capital Management LLC now owns 6,343,617 shares of the company's stock worth $85,258,000 after purchasing an additional 1,588,395 shares during the last quarter. 75.70% of the stock is currently owned by 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.