Oscar Health (NYSE:OSCR) Shares Gap Up - What's Next?

Oscar Health, Inc. (NYSE:OSCR - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $16.62, but opened at $17.36. Oscar Health shares last traded at $16.36, with a volume of 10,540,126 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on OSCR shares. Piper Sandler lowered their target price on Oscar Health from $25.00 to $18.00 and set an "overweight" rating on the stock in a research note on Monday, June 9th. Barclays started coverage on Oscar Health in a research note on Wednesday. They set an "underweight" rating and a $17.00 target price on the stock. Wall Street Zen lowered Oscar Health from a "buy" rating to a "hold" rating in a research note on Sunday, June 8th. Wells Fargo & Company lowered Oscar Health from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $20.00 to $16.00 in a research note on Thursday, March 13th. Finally, Raymond James Financial lowered Oscar Health from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 24th. Three analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $16.58.

Oscar Health Stock Performance

The stock has a fifty day simple moving average of $16.02 and a two-hundred day simple moving average of $14.82. The stock has a market cap of $4.21 billion, a price-to-earnings ratio of 59.00 and a beta of 1.90. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.88 and a current ratio of 0.88.

Oscar Health (NYSE:OSCR - Get Free Report) last issued its earnings results 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 firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.87 billion. Oscar Health had a return on equity of 10.59% and a net margin of 1.22%. The company's revenue was up 42.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.62 EPS. Analysts expect that Oscar Health, Inc. will post 0.69 EPS for the current fiscal year.

Insider Buying and Selling at Oscar Health

In related news, Director Elbert O. Jr. Robinson sold 25,000 shares of the firm's stock in a transaction 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 sale, the director owned 64,512 shares of the company's stock, valued at $1,059,932.16. This trade represents a 27.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 25.11% of the company's stock.

Institutional Investors Weigh In On Oscar Health

Several hedge funds have recently modified their holdings of the company. Hsbc Holdings PLC boosted its holdings in shares of Oscar Health by 2.7% during the 1st quarter. Hsbc Holdings PLC now owns 24,113 shares of the company's stock valued at $313,000 after acquiring an additional 632 shares in the last quarter. Tempus Wealth Planning LLC boosted its holdings in shares of Oscar Health by 6.7% during the 1st quarter. Tempus Wealth Planning LLC now owns 14,392 shares of the company's stock valued at $189,000 after acquiring an additional 906 shares in the last quarter. Focus Partners Wealth boosted its holdings in shares of Oscar Health by 1.8% during the 1st quarter. Focus Partners Wealth now owns 55,158 shares of the company's stock valued at $723,000 after acquiring an additional 949 shares in the last quarter. Xponance Inc. boosted its holdings in shares of Oscar Health by 7.1% during the 1st quarter. Xponance Inc. now owns 15,423 shares of the company's stock valued at $202,000 after acquiring an additional 1,029 shares in the last quarter. Finally, CWM LLC boosted its holdings 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 acquiring an additional 1,078 shares in the last quarter. 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.