Oscar Health (NYSE:OSCR) Stock Price Up 11.6% - Here's Why

Oscar Health, Inc. (NYSE:OSCR - Get Free Report) shares shot up 11.6% during trading on Tuesday . The stock traded as high as $17.90 and last traded at $17.83. 1,145,058 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 3,378,965 shares. The stock had previously closed at $15.98.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. UBS Group started coverage on shares of Oscar Health in a report on Monday, October 7th. They issued a "neutral" rating and a $23.00 target price for the company. Piper Sandler reiterated an "overweight" rating and set a $28.00 price objective on shares of Oscar Health in a research note on Tuesday, September 10th. Finally, Bank of America cut shares of Oscar Health from a "neutral" rating to an "underperform" rating and decreased their target price for the company from $21.00 to $13.50 in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Oscar Health has a consensus rating of "Moderate Buy" and a consensus target price of $22.93.

Oscar Health Stock Performance

The firm has a 50 day moving average price of $18.17 and a 200-day moving average price of $18.26. 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 stock has a market capitalization of $4.40 billion, a PE ratio of -297.78 and a beta of 1.67.

Oscar Health (NYSE:OSCR - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.02). The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.33 billion. Oscar Health had a return on equity of 2.79% and a net margin of 0.35%. The firm's revenue was up 68.3% on a year-over-year basis. During the same period last year, the business earned ($0.29) earnings per share. Research analysts expect that Oscar Health, Inc. will post -0.01 EPS for the current fiscal year.

Insider Activity

In other Oscar Health news, Vice Chairman Joshua Kushner bought 358,619 shares of Oscar Health stock in a transaction dated Wednesday, November 13th. The stock was acquired at an average cost of $13.74 per share, for a total transaction of $4,927,425.06. Following the completion of the transaction, the insider now directly owns 5,810,700 shares of the company's stock, valued at approximately $79,839,018. This represents a 6.58 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thrive Partners Vii Growth Gp, purchased 420,819 shares of the firm's stock in a transaction dated Tuesday, November 12th. The stock was acquired at an average cost of $13.68 per share, for a total transaction of $5,756,803.92. Following the completion of the purchase, the director now owns 5,452,081 shares of the company's stock, valued at approximately $74,584,468.08. This represents a 8.36 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 1,055,478 shares of company stock worth $14,432,852 and sold 169,569 shares worth $3,007,069. Company insiders own 25.11% of the company's stock.

Institutional Investors Weigh In On Oscar Health

Large investors have recently made changes to their positions in the stock. Point72 Hong Kong Ltd purchased a new stake in Oscar Health in the 2nd quarter valued at $78,000. Quest Partners LLC acquired a new stake in Oscar Health during the second quarter worth about $93,000. KBC Group NV raised its stake in Oscar Health by 41.2% during the third quarter. KBC Group NV now owns 4,552 shares of the company's stock worth $97,000 after purchasing an additional 1,328 shares during the period. Amalgamated Bank boosted its holdings in Oscar Health by 27.7% in the 2nd quarter. Amalgamated Bank now owns 6,727 shares of the company's stock valued at $106,000 after purchasing an additional 1,458 shares during the last quarter. Finally, Optimum Investment Advisors purchased a new stake in shares of Oscar Health in the 3rd quarter valued at approximately $142,000. 75.70% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.