Oscar Health (NYSE:OSCR) Stock Price Up 8.1% - Should You Buy?

Key Points

• Oscar Health shares rose 8.1% on Wednesday, trading as high as $30.96 and well above the prior close of $28.52, despite lighter-than-normal volume.
• Analyst sentiment is mixed but improved: Barclays upgraded the stock to overweight and lifted its target to $35, while the overall consensus remains Hold with a price target of $20.78.
• Recent results showed strong revenue growth and a big earnings beat, with quarterly EPS of $2.07 versus estimates of $1.11 and revenue up 52.6% year over year, though the company still posted negative margins and a negative return on equity.

Oscar Health, Inc. (NYSE:OSCR - Get Free Report) traded up 8.1% during trading on Wednesday . The company traded as high as $30.96 and last traded at $30.8210. 1,079,339 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 7,758,098 shares. The stock had previously closed at $28.52.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Barclays raised shares of Oscar Health from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $30.00 to $35.00 in a research report on Wednesday, June 10th. Zacks Research lowered shares of Oscar Health from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 5th. Jefferies Financial Group raised shares of Oscar Health from an "underperform" rating to a "hold" rating and raised their target price for the stock from $10.00 to $16.00 in a report on Monday, April 20th. Weiss Ratings downgraded shares of Oscar Health from a "sell (d+)" rating to a "sell (d)" rating in a research report on Wednesday, June 24th. Finally, Wolfe Research began coverage on shares of Oscar Health in a report on Tuesday, May 5th. They issued a "peer perform" rating on the stock. Three research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Oscar Health presently has a consensus rating of "Hold" and a consensus price target of $20.78.

Oscar Health Trading Up 11.2%

The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.26. The company has a 50-day simple moving average of $23.56 and a 200 day simple moving average of $17.55. The firm has a market cap of $9.56 billion, a PE ratio of -53.70, a price-to-earnings-growth ratio of 2.06 and a beta of 2.37.

Oscar Health (NYSE:OSCR - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.96. Oscar Health had a negative net margin of 0.30% and a negative return on equity of 3.26%. The firm had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.90 billion. During the same period in the previous year, the firm earned $0.92 EPS. The business's quarterly revenue was up 52.6% on a year-over-year basis. As a group, sell-side analysts forecast that Oscar Health, Inc. will post 0.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Adam Mcananey sold 9,859 shares of Oscar Health stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $21.94, for a total value of $216,306.46. Following the completion of the transaction, the insider owned 218,096 shares in the company, valued at $4,785,026.24. The trade was a 4.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Richard Scott Blackley sold 100,000 shares of the company's stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $23.16, for a total value of $2,316,000.00. Following the completion of the transaction, the chief financial officer directly owned 1,216,660 shares of the company's stock, valued at $28,177,845.60. The trade was a 7.59% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 2,423,470 shares of company stock valued at $69,379,702. Insiders own 25.11% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Jones Financial Companies Lllp increased 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 acquiring an additional 2,242 shares in the last quarter. Strs Ohio purchased a new position in Oscar Health during the first quarter valued at $30,000. Fifth Third Bancorp grew its position in shares of Oscar Health by 148.7% in the fourth quarter. Fifth Third Bancorp now owns 2,363 shares of the company's stock valued at $34,000 after purchasing an additional 1,413 shares during the period. Quarry LP grew its position in shares of Oscar Health by 439.8% in the third quarter. Quarry LP now owns 1,803 shares of the company's stock valued at $34,000 after purchasing an additional 1,469 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Oscar Health during the first quarter worth about $49,000. Hedge funds and other institutional investors own 75.70% of the company's stock.

Oscar Health Company Profile

Oscar Health, trading on the New York Stock Exchange under the ticker OSCR, is a technology-driven health insurance company headquartered in New York, New York. Founded in 2012 by Mario Schlosser, Joshua Kushner and Kevin Nazemi, the company was built with the goal of simplifying healthcare coverage and enhancing member experience. Oscar leverages a proprietary digital platform to streamline plan enrollment, claims administration and member support, distinguishing itself in the individual, family and small group insurance markets.

The company's primary products include on-exchange individual and family medical plans under the Affordable Care Act, off-exchange plans, as well as Medicare Advantage offerings.

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