Oscar Health (NYSE:OSCR) Shares Gap Up - Time to Buy?

Oscar Health, Inc. (NYSE:OSCR - Get Free Report)'s share price gapped up prior to trading on Tuesday . The stock had previously closed at $14.26, but opened at $14.80. Oscar Health shares last traded at $14.62, with a volume of 5,284,593 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on OSCR. Wall Street Zen raised Oscar Health from a "hold" rating to a "buy" rating in a research report on Saturday. Wells Fargo & Company cut Oscar Health from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $20.00 to $16.00 in a report on Thursday, March 13th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $18.50.

Oscar Health Stock Down 0.9%

The stock's 50 day simple moving average is $13.78 and its 200 day simple moving average is $14.58. The stock has a market capitalization of $3.60 billion, a P/E ratio of -705.65 and a beta of 1.73. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.26.

Oscar Health (NYSE:OSCR - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.83 by $0.09. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.87 billion. Oscar Health had a net margin of 0.28% and a return on equity of 2.28%. The company's revenue for the quarter was up 42.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.62 EPS. As a group, research analysts predict that Oscar Health, Inc. will post 0.69 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Elbert O. Jr. Robinson sold 25,000 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $16.43, for a total transaction of $410,750.00. Following the completion of the transaction, the director now directly owns 64,512 shares in the company, valued at approximately $1,059,932.16. The trade was a 27.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 24.39% of the stock is owned by insiders.

Institutional Trading of Oscar Health

Several large investors have recently added to or reduced their stakes in OSCR. Southeastern Asset Management Inc. TN grew its position in Oscar Health by 52.2% in the 4th quarter. Southeastern Asset Management Inc. TN now owns 3,131,084 shares of the company's stock valued at $42,082,000 after buying an additional 1,073,359 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Oscar Health by 37.8% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,741,306 shares of the company's stock valued at $23,403,000 after acquiring an additional 477,634 shares during the last quarter. Man Group plc lifted its position in shares of Oscar Health by 344.8% during the 4th quarter. Man Group plc now owns 1,813,216 shares of the company's stock valued at $24,370,000 after acquiring an additional 1,405,554 shares during the last quarter. Toronto Dominion Bank acquired a new position in shares of Oscar Health in the 4th quarter worth $1,008,000. Finally, Lingotto Investment Management LLP acquired a new stake in Oscar Health during the 4th quarter worth about $2,543,000. 75.70% of the stock is currently owned by institutional investors and hedge funds.

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.