Oscar Health (NYSE:OSCR) Shares Down 4.6% - What's Next?

Key Points

• Oscar Health's stock price fell by 4.6% to $17.10 during mid-day trading, with a significant drop in trading volume by 73% compared to average daily levels.
• Recent analyst ratings show a bleak outlook, with a consensus average rating of "Strong Sell" and a lowered price target averaging $12.07.
• Despite reporting a revenue increase of 29% year-over-year, Oscar Health had a negative EPS of ($0.89) and missed the revenue consensus estimate by $0.02 billion for the last quarter.

Oscar Health, Inc. (NYSE:OSCR - Get Free Report)'s share price traded down 4.6% during mid-day trading on Wednesday . The stock traded as low as $17.23 and last traded at $17.10. 3,681,499 shares traded hands during trading, a decline of 73% from the average session volume of 13,805,328 shares. The stock had previously closed at $17.93.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Wall Street Zen lowered Oscar Health from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Robert W. Baird reissued a "neutral" rating and issued a $14.00 price objective (down previously from $28.00) on shares of Oscar Health in a report on Friday, July 25th. UBS Group reissued a "sell" rating and issued a $11.00 price objective (down previously from $15.00) on shares of Oscar Health in a report on Tuesday, July 15th. Barclays decreased their price target on Oscar Health from $17.00 to $11.00 and set an "underweight" rating on the stock in a research report on Wednesday, July 23rd. Finally, Wells Fargo & Company cut Oscar Health from an "equal weight" rating to an "underweight" rating and decreased their price target for the company from $16.00 to $10.00 in a research report on Friday, July 11th. Four equities research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Strong Sell" and an average price target of $12.07.

Oscar Health Price Performance

The firm has a 50 day moving average price of $16.19 and a 200 day moving average price of $15.26. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.26. The stock has a market cap of $4.90 billion, a P/E ratio of -23.42 and a beta of 1.87.

Oscar Health (NYSE:OSCR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.89) EPS for the quarter, topping the consensus estimate of ($0.90) by $0.01. The firm had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.88 billion. Oscar Health had a negative return on equity of 13.78% and a negative net margin of 1.50%.The business's revenue for the quarter was up 29.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.20 earnings per share. On average, analysts forecast that Oscar Health, Inc. will post 0.69 EPS for the current fiscal year.

Institutional Trading of Oscar Health

A number of large investors have recently added to or reduced their stakes in OSCR. BNP Paribas Financial Markets bought a new stake in Oscar Health in the 4th quarter worth approximately $590,000. Cetera Investment Advisers increased its stake in Oscar Health by 17.1% in the 4th quarter. Cetera Investment Advisers now owns 27,066 shares of the company's stock worth $364,000 after acquiring an additional 3,961 shares during the last quarter. ProShare Advisors LLC increased its stake in Oscar Health by 52.7% in the 4th quarter. ProShare Advisors LLC now owns 56,098 shares of the company's stock worth $754,000 after acquiring an additional 19,356 shares during the last quarter. Toronto Dominion Bank bought a new stake in Oscar Health in the 4th quarter worth approximately $1,008,000. Finally, Thrive Capital Management LLC increased its stake in Oscar Health by 33.4% in 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 last quarter. Institutional investors 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.