Oscar Health (NYSE:OSCR) Shares Gap Up - Still a Buy?

Oscar Health, Inc. (NYSE:OSCR - Get Free Report) 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 changing hands.

Analyst Ratings Changes

A number of research firms have recently weighed in on OSCR. Wall Street Zen downgraded Oscar Health from a "buy" rating to a "hold" rating in a report on Sunday, June 8th. Wells Fargo & Company downgraded 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 report on Thursday, March 13th. Finally, Piper Sandler lowered their price objective 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. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $16.50.

Oscar Health Price Performance

The firm has a market capitalization of $5.42 billion, a P/E ratio of 75.98 and a beta of 1.73. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.22. The business's 50 day moving average is $14.42 and its 200-day moving average is $14.48.

Oscar Health (NYSE:OSCR - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.09. Oscar Health had a return on equity of 10.59% and a net margin of 1.22%. The business had revenue of $3 billion for the quarter, compared to analyst estimates of $2.87 billion. During the same period last year, the firm posted $0.62 earnings per share. Oscar Health's revenue was up 42.2% compared to the same quarter last year. As a group, sell-side analysts predict that Oscar Health, Inc. will post 0.69 EPS for the current fiscal year.

Insider Buying and Selling

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 completion of the transaction, the director now directly owns 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 24.39% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Oscar Health

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Oscar Health by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 19,698,442 shares of the company's stock valued at $258,247,000 after purchasing an additional 700,469 shares during the period. Deerfield Management Company L.P. Series C increased its position in shares of Oscar Health by 50.7% during 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 buying an additional 3,983,325 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in Oscar Health by 4.1% in the first quarter. T. Rowe Price Investment Management Inc. now owns 11,826,245 shares of the company's stock valued at $155,043,000 after buying an additional 467,301 shares during the period. JPMorgan Chase & Co. boosted its position in Oscar Health by 348.7% during the fourth quarter. JPMorgan Chase & Co. now owns 10,360,529 shares of the company's stock valued at $139,246,000 after acquiring an additional 8,051,379 shares during the last quarter. Finally, Thrive Capital Management LLC grew its holdings in Oscar Health by 33.4% during the 4th quarter. Thrive Capital Management LLC now owns 6,343,617 shares of the company's stock worth $85,258,000 after acquiring an additional 1,588,395 shares during the period. 75.70% of the stock is owned by institutional investors and hedge funds.

Oscar Health Company Profile

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.