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

Oscar Health, Inc. (NYSE:OSCR - Get Free Report)'s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $14.95, but opened at $15.88. Oscar Health shares last traded at $16.20, with a volume of 3,579,398 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on OSCR. Piper Sandler decreased their target price on shares of Oscar Health from $25.00 to $18.00 and set an "overweight" rating on the stock in a research report on Monday, June 9th. Wells Fargo & Company cut Oscar Health from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $20.00 to $16.00 in a research report on Thursday, March 13th. Finally, Wall Street Zen lowered Oscar Health from a "buy" rating to a "hold" rating in a research report on Sunday, June 8th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $16.50.

Oscar Health Stock Up 8.7%

The company has a market cap of $4.14 billion, a P/E ratio of -809.25 and a beta of 1.73. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.26. The business's 50 day moving average is $14.09 and its 200 day moving average is $14.44.

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

Insiders Place Their Bets

In other Oscar Health news, Director Elbert O. Jr. Robinson sold 25,000 shares of Oscar Health stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $16.43, for a total transaction of $410,750.00. Following 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 24.39% of the stock is owned by insiders.

Institutional Investors Weigh In On Oscar Health

Several hedge funds have recently added to or reduced their stakes in OSCR. JPMorgan Chase & Co. lifted its holdings in Oscar Health by 348.7% during the 4th quarter. JPMorgan Chase & Co. now owns 10,360,529 shares of the company's stock worth $139,246,000 after purchasing an additional 8,051,379 shares in the last quarter. BIT Capital GmbH boosted its holdings in Oscar Health by 5,711.6% in the fourth quarter. BIT Capital GmbH now owns 4,473,853 shares of the company's stock worth $60,129,000 after purchasing an additional 4,396,872 shares during the last quarter. Deerfield Management Company L.P. Series C boosted its position in shares of Oscar Health by 50.7% in the fourth quarter. Deerfield Management Company L.P. Series C now owns 11,835,000 shares of the company's stock worth $159,062,000 after purchasing an additional 3,983,325 shares during the period. Nuveen LLC purchased a new position in Oscar Health during the 1st quarter valued at approximately $29,684,000. Finally, Gilder Gagnon Howe & Co. LLC lifted its position in Oscar Health by 51.4% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 6,335,862 shares of the company's stock worth $85,154,000 after buying an additional 2,151,256 shares during the last quarter. 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.

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