Oscar Health (NYSE:OSCR) Stock Price Up 16.5% - Here's What Happened

Oscar Health, Inc. (NYSE:OSCR - Get Free Report)'s stock price was up 16.5% during mid-day trading on Friday . The stock traded as high as $21.95 and last traded at $21.87. Approximately 20,445,021 shares were traded during mid-day trading, an increase of 194% from the average daily volume of 6,948,218 shares. The stock had previously closed at $18.77.

Analyst Ratings Changes

Several research analysts have commented on OSCR shares. Piper Sandler reduced their price objective on Oscar Health from $25.00 to $18.00 and set an "overweight" rating on the stock in a report on Monday, June 9th. Wall Street Zen lowered Oscar Health from a "buy" rating to a "hold" rating in a research note on Sunday, June 8th. Finally, Wells Fargo & Company lowered shares of Oscar Health from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $20.00 to $16.00 in a research note on Thursday, March 13th. 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 stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $16.50.

Oscar Health Stock Up 18.5%

The business has a 50 day moving average of $14.42 and a two-hundred day moving average of $14.48. The stock has a market capitalization of $5.66 billion, a PE ratio of 79.93 and a beta of 1.73. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.88 and a current ratio of 0.88.

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

Insider Buying and Selling at Oscar Health

In related news, Director Elbert O. Jr. Robinson sold 25,000 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $16.43, for a total value 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 SEC, which is available through this hyperlink. 24.39% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of OSCR. Vanguard Group Inc. grew its holdings in shares of Oscar Health by 3.7% during the first quarter. Vanguard Group Inc. now owns 19,698,442 shares of the company's stock valued at $258,247,000 after buying an additional 700,469 shares during the last quarter. Deerfield Management Company L.P. Series C grew its stake in Oscar Health by 50.7% during the 4th quarter. Deerfield Management Company L.P. Series C now owns 11,835,000 shares of the company's stock valued at $159,062,000 after purchasing an additional 3,983,325 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of 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 purchasing an additional 467,301 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Oscar Health by 348.7% in the fourth 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 during the last quarter. Finally, Thrive Capital Management LLC lifted its holdings in shares of Oscar Health by 33.4% during the fourth quarter. Thrive Capital Management LLC now owns 6,343,617 shares of the company's stock worth $85,258,000 after purchasing an additional 1,588,395 shares during the period. Institutional investors and hedge funds own 75.70% of the company's stock.

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.

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