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

Key Points

• Oscar Health shares opened significantly lower at $19.20, down from a previous close of $20.37, with trading volume reaching 3,408,798 shares.
• Analysts have given Oscar Health a consensus target price of $13.19, with multiple firms rating it as "neutral" or "sell" amid declining price objectives.
• Company insiders recently sold a substantial number of shares, including CEO Mario Schlosser, who sold 395,000 shares, indicating potential concerns regarding the stock's future performance.

Oscar Health, Inc. (NYSE:OSCR - Get Free Report)'s stock price gapped down prior to trading on Thursday . The stock had previously closed at $20.37, but opened at $19.20. Oscar Health shares last traded at $19.00, with a volume of 3,408,798 shares trading hands.

Analyst Ratings Changes

A number of research firms have commented on OSCR. The Goldman Sachs Group began coverage on Oscar Health in a research report on Tuesday, October 14th. They issued a "neutral" rating and a $17.00 target price on the stock. Robert W. Baird reiterated 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. Piper Sandler cut their price objective on Oscar Health from $14.00 to $13.00 and set a "neutral" rating on the stock in a report on Thursday, August 14th. Wells Fargo & Company boosted their price objective on Oscar Health from $10.00 to $14.00 and gave the company an "underweight" rating in a report on Tuesday, October 7th. Finally, UBS Group reiterated 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. Six research analysts have rated the stock with a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus target price of $13.19.

Oscar Health Price Performance

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 stock has a market cap of $4.90 billion, a PE ratio of -23.36 and a beta of 1.89. The company has a fifty day moving average of $18.70 and a 200-day moving average of $16.25.

Oscar Health (NYSE:OSCR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.89) earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the prior year, the business earned $0.20 EPS. Oscar Health's revenue was up 29.0% on a year-over-year basis. Sell-side analysts expect that Oscar Health, Inc. will post 0.69 EPS for the current fiscal year.

Insiders Place Their Bets

In other Oscar Health news, insider Mario Schlosser sold 395,000 shares of the company's stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $18.43, for a total transaction of $7,279,850.00. Following the sale, the insider owned 501,148 shares in the company, valued at $9,236,157.64. This represents a 44.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 24.39% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Oscar Health

Several large investors have recently bought and sold shares of OSCR. Nuveen LLC purchased a new stake in Oscar Health during the 1st quarter worth about $29,684,000. Thrive Capital Management LLC increased its holdings in Oscar Health by 33.4% during the 4th 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 period. Jump Financial LLC increased its holdings in Oscar Health by 798.3% during the 2nd quarter. Jump Financial LLC now owns 1,441,506 shares of the company's stock worth $30,906,000 after purchasing an additional 1,281,032 shares during the period. Bienville Capital Management LLC acquired a new position in shares of Oscar Health during the 2nd quarter worth about $21,204,000. Finally, American Century Companies Inc. boosted its position in shares of Oscar Health by 45.4% during the 2nd quarter. American Century Companies Inc. now owns 2,802,649 shares of the company's stock worth $60,089,000 after acquiring an additional 875,388 shares in the last quarter. Hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.