Oscar Health (NYSE:OSCR) Stock Price Up 5.7% - Time to Buy?

Key Points

• Oscar Health's stock price increased by 5.7%, closing at $17.37, although the trading volume was significantly lower, at 4.3 million shares.
• Multiple brokerages have downgraded Oscar Health's stock, with Wells Fargo cutting its price target to $10.00, indicating a consensus rating of "Strong Sell" among analysts.
• The company reported a quarterly earnings per share of ($0.89), surpassing expectations, but experienced a 29% year-over-year revenue growth with sales of $2.86 billion.

Oscar Health, Inc. (NYSE:OSCR - Get Free Report)'s stock price rose 5.7% during trading on Wednesday . The stock traded as high as $17.35 and last traded at $17.37. Approximately 4,330,692 shares were traded during trading, a decline of 68% from the average daily volume of 13,517,921 shares. The stock had previously closed at $16.43.

Analyst Ratings Changes

A number of brokerages have commented on OSCR. Wells Fargo & Company lowered Oscar Health from an "equal weight" rating to an "underweight" rating and decreased their price objective for the stock from $16.00 to $10.00 in a report on Friday, July 11th. Wall Street Zen downgraded shares of Oscar Health from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. UBS Group reaffirmed a "sell" rating and issued a $11.00 price objective (down from $15.00) on shares of Oscar Health in a research report on Tuesday, July 15th. Piper Sandler cut their target price on Oscar Health from $14.00 to $13.00 and set a "neutral" rating on the stock in a research note on Thursday, August 14th. Finally, Raymond James Financial lowered Oscar Health from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 24th. Four research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, Oscar Health currently has a consensus rating of "Strong Sell" and a consensus price target of $12.07.

Oscar Health Trading Up 6.5%

The company has a market cap of $4.52 billion, a PE ratio of -21.63 and a beta of 1.87. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.86 and a quick ratio of 0.86. The firm's 50 day moving average is $15.88 and its 200 day moving average is $14.93.

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

Institutional Trading of Oscar Health

Institutional investors have recently made changes to their positions in the stock. LRI Investments LLC boosted its stake in shares of Oscar Health by 377.9% in the 2nd quarter. LRI Investments LLC now owns 1,233 shares of the company's stock worth $26,000 after buying an additional 975 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in Oscar Health by 7,473.3% in the 1st quarter. Jones Financial Companies Lllp now owns 2,272 shares of the company's stock worth $30,000 after purchasing an additional 2,242 shares during the period. Strs Ohio purchased a new position in Oscar Health during the first quarter valued at $30,000. Larson Financial Group LLC lifted its position in shares of Oscar Health by 83,733.3% during the 1st quarter. Larson Financial Group LLC now owns 2,515 shares of the company's stock valued at $33,000 after buying an additional 2,512 shares in the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new position in Oscar Health during the second quarter valued at approximately $33,000. Hedge funds and other 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.

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