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

Key Points

• Oscar Health shares gapped up ahead of trading, opening at $22.25 after closing at $20.50 and later trading around $23.08, a move of about 14.8%.
• Recent analyst commentary was mixed but mostly neutral: Barclays raised its price target to $30, while the overall consensus rating remains “Hold” with an average target of $20.22.
• The company beat earnings expectations in its latest quarter, reporting $2.07 EPS versus $1.11 expected, though revenue of $4.65 billion came in below estimates.

Oscar Health, Inc. (NYSE:OSCR - Get Free Report)'s share price gapped up prior to trading on Thursday . The stock had previously closed at $20.50, but opened at $22.25. Oscar Health shares last traded at $23.0750, with a volume of 2,108,287 shares.

Wall Street Analyst Weigh In

A number of research firms recently commented on OSCR. Barclays increased their target price on shares of Oscar Health from $21.00 to $30.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 26th. Wells Fargo & Company set a $20.00 target price on shares of Oscar Health and gave the stock an "equal weight" rating in a research note on Thursday. Zacks Research upgraded shares of Oscar Health from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 7th. UBS Group upped their price target on shares of Oscar Health from $15.00 to $20.00 and gave the stock a "neutral" rating in a research note on Thursday, May 7th. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Oscar Health in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Oscar Health currently has an average rating of "Hold" and a consensus price target of $20.22.

Oscar Health Trading Up 14.8%

The business's 50-day simple moving average is $17.92 and its two-hundred day simple moving average is $15.93. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market capitalization of $7.09 billion, a price-to-earnings ratio of -40.03, a PEG ratio of 1.48 and a beta of 2.37.

Oscar Health (NYSE:OSCR - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.96. Oscar Health had a negative return on equity of 3.26% and a negative net margin of 0.30%.The company had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.90 billion. During the same period in the previous year, the business earned $0.92 EPS. Oscar Health's revenue for the quarter was up 52.6% compared to the same quarter last year. On average, research analysts anticipate that Oscar Health, Inc. will post 0.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Oscar Health

In related news, CEO Mark T. Bertolini acquired 1,000,000 shares of Oscar Health stock in a transaction that occurred on Monday, April 6th. The stock was acquired at an average price of $11.92 per share, with a total value of $11,920,000.00. Following the completion of the acquisition, the chief executive officer directly owned 10,196,876 shares of the company's stock, valued at $121,546,761.92. This trade represents a 10.87% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Richard Scott Blackley sold 100,000 shares of the company's stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $23.16, for a total transaction of $2,316,000.00. Following the completion of the sale, the chief financial officer directly owned 1,216,660 shares of the company's stock, valued at $28,177,845.60. The trade was a 7.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 24.39% of the company's stock.

Institutional Trading of Oscar Health

Several institutional investors and hedge funds have recently bought and sold shares of the stock. OneDigital Investment Advisors LLC lifted its position in Oscar Health by 0.6% in the third quarter. OneDigital Investment Advisors LLC now owns 138,271 shares of the company's stock worth $2,617,000 after purchasing an additional 779 shares during the period. Focus Partners Wealth lifted its holdings in shares of Oscar Health by 1.4% during the third quarter. Focus Partners Wealth now owns 57,787 shares of the company's stock valued at $1,094,000 after acquiring an additional 824 shares during the period. Equitable Holdings Inc. lifted its holdings in shares of Oscar Health by 7.0% during the fourth quarter. Equitable Holdings Inc. now owns 12,975 shares of the company's stock valued at $186,000 after acquiring an additional 850 shares during the period. Captrust Financial Advisors lifted its holdings in shares of Oscar Health by 2.0% during the fourth quarter. Captrust Financial Advisors now owns 45,754 shares of the company's stock valued at $657,000 after acquiring an additional 895 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its holdings in shares of Oscar Health by 5.6% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 17,774 shares of the company's stock valued at $255,000 after acquiring an additional 938 shares during the period. Institutional investors and hedge funds own 75.70% of the company's stock.

About Oscar Health

Oscar Health, trading on the New York Stock Exchange under the ticker OSCR, is a technology-driven health insurance company headquartered in New York, New York. Founded in 2012 by Mario Schlosser, Joshua Kushner and Kevin Nazemi, the company was built with the goal of simplifying healthcare coverage and enhancing member experience. Oscar leverages a proprietary digital platform to streamline plan enrollment, claims administration and member support, distinguishing itself in the individual, family and small group insurance markets.

The company's primary products include on-exchange individual and family medical plans under the Affordable Care Act, off-exchange plans, as well as Medicare Advantage offerings.

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