Oscar Health (NYSE:OSCR) Stock Price Up 6.7% - Here's Why

Key Points

• Oscar Health's stock price increased by 6.7% to $21.76, despite a significant drop in trading volume compared to its average.
• Recent analyst ratings show a consensus of "Strong Sell" with a target price of $13.19, with several analysts downgrading their ratings on the stock.
• The company reported a 29.0% year-over-year revenue increase in its last earnings report, though it posted a loss of ($0.89) EPS, slightly better than expected.

Shares of Oscar Health, Inc. (NYSE:OSCR - Get Free Report) rose 6.7% on Tuesday . The company traded as high as $21.77 and last traded at $21.76. Approximately 6,192,687 shares changed hands during trading, a decline of 57% from the average daily volume of 14,334,185 shares. The stock had previously closed at $20.40.

Wall Street Analyst Weigh In

OSCR has been the topic of a number of recent research reports. Piper Sandler cut their target price on shares of Oscar Health from $14.00 to $13.00 and set a "neutral" rating on the stock in a research note on Thursday, August 14th. Wall Street Zen lowered shares of Oscar Health from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Weiss Ratings restated a "sell (d)" rating on shares of Oscar Health in a research note on Wednesday, October 8th. Wells Fargo & Company upped their target price on shares of Oscar Health from $10.00 to $14.00 and gave the stock an "underweight" rating in a research note on Tuesday, October 7th. Finally, UBS Group reiterated a "sell" rating and issued a $11.00 price target (down from $15.00) on shares of Oscar Health in a research note on Tuesday, July 15th. Five analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Strong Sell" and a consensus price target of $13.19.

Oscar Health Trading Up 3.9%

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 has a market capitalization of $5.48 billion, a PE ratio of -25.73 and a beta of 1.89. The business's 50-day moving average price is $17.90 and its 200-day moving average price is $15.93.

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

Insider Buying and Selling at Oscar Health

In related news, insider Mario Schlosser sold 395,000 shares of the stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $18.43, for a total transaction of $7,279,850.00. Following the completion of the sale, the insider directly owned 501,148 shares of the company's stock, valued at $9,236,157.64. This trade represents a 44.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 25.11% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Oscar Health

Hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. lifted its holdings in shares of Oscar Health by 23.8% during the first quarter. Victory Capital Management Inc. now owns 285,997 shares of the company's stock worth $3,749,000 after purchasing an additional 54,938 shares during the period. Concurrent Investment Advisors LLC acquired a new stake in Oscar Health in the first quarter valued at $677,000. Nuveen LLC acquired a new stake in Oscar Health in the first quarter valued at $29,684,000. NewEdge Advisors LLC lifted its holdings in Oscar Health by 89.7% in the first quarter. NewEdge Advisors LLC now owns 188,058 shares of the company's stock valued at $2,465,000 after acquiring an additional 88,946 shares during the period. Finally, Matauro LLC acquired a new stake in Oscar Health in the second quarter valued at $1,508,000. 75.70% of the stock is owned by institutional investors and hedge funds.

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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