Oscar Health (NYSE:OSCR) Shares Gap Down - Should You Sell?

Oscar Health, Inc. (NYSE:OSCR - Get Free Report)'s stock price gapped down before the market opened on Friday . The stock had previously closed at $15.53, but opened at $14.99. Oscar Health shares last traded at $14.47, with a volume of 14,092,356 shares trading hands.

Wall Street Analysts Forecast Growth

OSCR has been the topic of several research analyst reports. Wells Fargo & Company cut shares of Oscar Health from an "equal weight" rating to an "underweight" rating and decreased their target price for the stock from $16.00 to $10.00 in a research report on Friday. Wall Street Zen cut shares of Oscar Health from a "buy" rating to a "hold" rating in a research report on Sunday, June 8th. Piper Sandler decreased their target price on shares of Oscar Health from $25.00 to $18.00 and set an "overweight" rating on the stock in a research report on Monday, June 9th. Barclays initiated coverage on shares of Oscar Health in a research report on Wednesday, July 2nd. They set an "underweight" rating and a $17.00 price target on the stock. Finally, Raymond James Financial cut shares of Oscar Health from an "outperform" rating to a "market perform" rating in a research report on Tuesday, June 24th. Four 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. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $15.58.

Oscar Health Price Performance

The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.22. The business's 50 day moving average price is $16.28 and its 200-day moving average price is $14.87. The company has a market cap of $3.75 billion, a PE ratio of 52.62 and a beta of 1.90.

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

Insiders Place Their Bets

In related news, Director Elbert O. Jr. Robinson sold 25,000 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $16.43, for a total value of $410,750.00. Following the completion of the sale, the director owned 64,512 shares of the company's stock, valued at $1,059,932.16. This represents a 27.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 24.39% of the stock is owned by insiders.

Hedge Funds Weigh In On Oscar Health

Large investors have recently made changes to their positions in the business. Jones Financial Companies Lllp increased its holdings in shares of Oscar Health by 7,473.3% in the 1st quarter. Jones Financial Companies Lllp now owns 2,272 shares of the company's stock valued at $30,000 after purchasing an additional 2,242 shares during the period. Strs Ohio bought a new position in Oscar Health in the first quarter worth $30,000. Larson Financial Group LLC lifted its position in Oscar Health by 83,733.3% in the first quarter. Larson Financial Group LLC now owns 2,515 shares of the company's stock worth $33,000 after purchasing an additional 2,512 shares during the period. CWM LLC lifted its position in Oscar Health by 50.7% in the first quarter. CWM LLC now owns 3,204 shares of the company's stock worth $42,000 after purchasing an additional 1,078 shares during the period. Finally, Caitong International Asset Management Co. Ltd lifted its position in Oscar Health by 484.6% in the first quarter. Caitong International Asset Management Co. Ltd now owns 3,443 shares of the company's stock worth $45,000 after purchasing an additional 2,854 shares during the period. Institutional investors and hedge funds 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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