Oscar Health (NYSE:OSCR) Stock Price Up 16.5% - Time to Buy?

Oscar Health, Inc. (NYSE:OSCR - Get Free Report) traded up 16.5% on Friday . The company traded as high as $21.95 and last traded at $21.87. 20,445,021 shares changed hands during trading, an increase of 194% from the average session volume of 6,948,218 shares. The stock had previously closed at $18.77.

Analyst Upgrades and Downgrades

OSCR has been the subject of several research analyst reports. Piper Sandler lowered their price target on shares of Oscar Health from $25.00 to $18.00 and set an "overweight" rating for the company in a report on Monday, June 9th. Wells Fargo & Company lowered Oscar Health from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $20.00 to $16.00 in a research report on Thursday, March 13th. Finally, Wall Street Zen downgraded Oscar Health from a "buy" rating to a "hold" rating in a research report on Sunday, June 8th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $16.50.

Oscar Health Price Performance

The company's 50 day moving average price is $14.59 and its 200-day moving average price is $14.47. 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 stock has a market cap of $5.19 billion, a P/E ratio of 72.79 and a beta of 1.73.

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

Insider Buying and Selling

In other Oscar Health news, Director Elbert O. Jr. Robinson sold 25,000 shares of the company's stock in a transaction on Monday, May 12th. The stock was 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 owns 64,512 shares in the company, valued at $1,059,932.16. This represents a 27.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 25.11% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Oscar Health

A number of hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. grew 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 buying an additional 8,051,379 shares during the period. BIT Capital GmbH boosted its stake in Oscar Health by 5,711.6% in the fourth quarter. BIT Capital GmbH now owns 4,473,853 shares of the company's stock valued at $60,129,000 after acquiring an additional 4,396,872 shares during the last quarter. Deerfield Management Company L.P. Series C boosted its stake in Oscar Health by 50.7% in the fourth 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 acquiring an additional 3,983,325 shares during the last quarter. Nuveen LLC bought a new position in shares of Oscar Health during the 1st quarter valued at approximately $29,684,000. Finally, Gilder Gagnon Howe & Co. LLC increased its stake in shares of Oscar Health by 51.4% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 6,335,862 shares of the company's stock worth $85,154,000 after purchasing an additional 2,151,256 shares during the last quarter. 75.70% of the stock is currently owned by 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.