Shares of Oscar Health, Inc. (NYSE:OSCR - Get Free Report) gapped up before the market opened on Wednesday following a better than expected earnings announcement. The stock had previously closed at $13.07, but opened at $16.06. Oscar Health shares last traded at $16.55, with a volume of 11,544,124 shares traded.
The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.09. Oscar Health had a return on equity of 2.28% and a net margin of 0.28%. The company had revenue of $3 billion during the quarter, compared to analyst estimates of $2.87 billion. During the same quarter last year, the firm posted $0.62 EPS. The firm's revenue for the quarter was up 42.2% on a year-over-year basis.
Analyst Upgrades and Downgrades
Separately, Wells Fargo & Company cut shares of Oscar Health from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $20.00 to $16.00 in a research note on Thursday, March 13th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $20.08.
View Our Latest Research Report on OSCR
Institutional Investors Weigh In On Oscar Health
Several hedge funds and other institutional investors have recently modified their holdings of OSCR. Larson Financial Group LLC increased its holdings in Oscar Health by 83,733.3% during the 1st quarter. Larson Financial Group LLC now owns 2,515 shares of the company's stock worth $33,000 after acquiring an additional 2,512 shares during the period. CWM LLC grew its position in shares of Oscar Health by 50.7% during the 1st quarter. CWM LLC now owns 3,204 shares of the company's stock valued at $42,000 after purchasing an additional 1,078 shares in the last quarter. Princeton Global Asset Management LLC bought a new position in shares of Oscar Health in the first quarter worth $59,000. GAMMA Investing LLC raised its position in shares of Oscar Health by 2,156.4% in the first quarter. GAMMA Investing LLC now owns 6,476 shares of the company's stock worth $85,000 after buying an additional 6,189 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of Oscar Health by 171.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,627 shares of the company's stock worth $89,000 after buying an additional 4,185 shares in the last quarter. 75.70% of the stock is currently owned by institutional investors.
Oscar Health Stock Up 0.3 %
The company has a 50 day moving average of $13.34 and a 200-day moving average of $14.63. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market cap of $4.29 billion, a P/E ratio of -855.07 and a beta of 1.75.
About Oscar Health
(
Get Free Report)
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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