Oscar Health (NYSE:OSCR) Shares Up 7.6% - What's Next?

Key Points

• Oscar Health shares jumped 7.6% to about $30.49, although trading volume was 66% below the average daily level.
• Analyst sentiment remains mixed: the stock has a consensus “Hold” rating and an average price target of $20.78, well below its current price.
• The company exceeded quarterly EPS expectations, reporting $2.07 versus $1.11 expected, while revenue rose 52.6% year over year. However, insiders have sold approximately $105.1 million of shares over the past 90 days.

Oscar Health, Inc. (NYSE:OSCR - Get Free Report)'s stock price rose 7.6% during trading on Tuesday . The company traded as high as $30.43 and last traded at $30.4860. 2,466,718 shares were traded during trading, a decline of 66% from the average daily volume of 7,354,688 shares. The stock had previously closed at $28.34.

Analysts Set New Price Targets

A number of brokerages have weighed in on OSCR. Wolfe Research initiated coverage on Oscar Health in a research report on Tuesday, May 5th. They set a "peer perform" rating for the company. Zacks Research upgraded shares of Oscar Health from a "hold" rating to a "strong-buy" rating in a report on Monday, July 6th. Wall Street Zen raised shares of Oscar Health from a "buy" rating to a "strong-buy" rating in a report on Sunday, June 14th. Piper Sandler reiterated an "overweight" rating on shares of Oscar Health in a report on Tuesday. Finally, Weiss Ratings upgraded Oscar Health from a "sell (d)" rating to a "sell (d+)" rating in a research note on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $20.78.

Oscar Health Stock Up 10.5%

The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.26. The company's 50 day moving average price is $27.61 and its 200 day moving average price is $19.57. The firm has a market capitalization of $9.44 billion, a price-to-earnings ratio of -53.13, a P/E/G ratio of 1.58 and a beta of 2.34.

Oscar Health (NYSE:OSCR - Get Free Report) last announced 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. The firm had revenue of $4.65 billion during the quarter, compared to analysts' expectations of $4.90 billion. Oscar Health had a negative return on equity of 3.26% and a negative net margin of 0.30%.The company's revenue for the quarter was up 52.6% compared to the same quarter last year. During the same period last year, the business posted $0.92 earnings per share. As a group, research analysts forecast that Oscar Health, Inc. will post 0.59 earnings per share for the current fiscal year.

Insider Buying and Selling at Oscar Health

In related news, CEO Mark T. Bertolini sold 624,244 shares of the stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $28.48, for a total transaction of $17,778,469.12. Following the sale, the chief executive officer directly owned 7,751,570 shares of the company's stock, valued at approximately $220,764,713.60. This represents a 7.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Janet Liang sold 12,475 shares of the firm's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $21.94, for a total transaction of $273,701.50. Following the sale, the insider owned 259,057 shares in the company, valued at approximately $5,683,710.58. This represents a 4.59% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 3,662,466 shares of company stock worth $105,145,815. 22.64% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Oscar Health

A number of institutional investors have recently modified their holdings of OSCR. Wedge Capital Management L L P NC acquired a new position in Oscar Health in the 2nd quarter worth about $32,855,000. Allied Private Wealth LLC acquired a new position in shares of Oscar Health during the 2nd quarter worth approximately $125,000. FNY Investment Advisers LLC acquired a new stake in Oscar Health in the 2nd quarter valued at $57,000. Assenagon Asset Management S.A. increased its holdings in Oscar Health by 1.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,247,992 shares of the company's stock worth $35,593,000 after acquiring an additional 20,189 shares in the last quarter. Finally, Fermata Advisors LLC purchased a new stake in Oscar Health in the 2nd quarter worth $205,000. 75.70% of the stock is currently owned by institutional investors and hedge funds.

Oscar Health Company Profile

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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