Oscar Health (NYSE:OSCR) Trading 10.9% Higher - Time to Buy?

Shares of Oscar Health, Inc. (NYSE:OSCR - Get Free Report) were up 10.9% during mid-day trading on Thursday . The company traded as high as $20.99 and last traded at $21.28. Approximately 4,535,521 shares were traded during mid-day trading, a decline of 20% from the average daily volume of 5,649,624 shares. The stock had previously closed at $19.19.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on OSCR shares. Wells Fargo & Company lowered Oscar Health from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $20.00 to $16.00 in a research note on Thursday, March 13th. Piper Sandler cut their price target on Oscar Health from $25.00 to $18.00 and set an "overweight" rating for the company in a research note 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, Raymond James Financial lowered Oscar Health from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 24th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $16.50.

Oscar Health Stock Down 0.6%

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 company has a fifty day moving average price of $15.38 and a 200-day moving average price of $14.64. The stock has a market capitalization of $5.19 billion, a P/E ratio of 72.89 and a beta of 1.73.

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

Insider Transactions at Oscar Health

In other Oscar Health news, Director Elbert O. Jr. Robinson sold 25,000 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $16.43, for a total transaction of $410,750.00. Following the sale, the director now directly owns 64,512 shares of the company's stock, valued at $1,059,932.16. The trade was a 27.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 25.11% of the company's stock.

Institutional Investors Weigh In On Oscar Health

Several large investors have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC increased its stake in Oscar Health by 2.7% during the first quarter. Hsbc Holdings PLC now owns 24,113 shares of the company's stock worth $313,000 after acquiring an additional 632 shares during the last quarter. Tempus Wealth Planning LLC boosted its position in shares of Oscar Health by 6.7% during the first quarter. Tempus Wealth Planning LLC now owns 14,392 shares of the company's stock valued at $189,000 after buying an additional 906 shares during the period. Focus Partners Wealth boosted its position in shares of Oscar Health by 1.8% during the first quarter. Focus Partners Wealth now owns 55,158 shares of the company's stock valued at $723,000 after buying an additional 949 shares during the period. Xponance Inc. boosted its position in shares of Oscar Health by 7.1% during the first quarter. Xponance Inc. now owns 15,423 shares of the company's stock valued at $202,000 after buying an additional 1,029 shares during the period. Finally, CWM LLC boosted its position in shares of Oscar Health by 50.7% during the first quarter. CWM LLC now owns 3,204 shares of the company's stock valued at $42,000 after buying an additional 1,078 shares during the period. 75.70% of the stock is 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.