Oscar Health (NYSE:OSCR) Reaches New 52-Week High - What's Next?

Key Points

• Oscar Health shares hit a 52-week high of $36.16 during Wednesday trading, after closing the prior session at $32.41.
• Analysts’ consensus rating is Hold, with an average price target of $34.90; individual targets range from $27 to $49.
• The company reported quarterly EPS of $1.10, beating the $0.40 consensus, while revenue of $4.88 billion topped estimates and grew 70.4% year over year.

Oscar Health, Inc. (NYSE:OSCR - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Wednesday. The stock traded as high as $36.16 and last traded at $33.3370, with a volume of 2,392,551 shares. The stock had previously closed at $32.41.

Analysts Set New Price Targets

OSCR has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price objective on shares of Oscar Health from $20.00 to $27.00 and gave the company an "equal weight" rating in a research report on Thursday, August 13th. Bank of America raised their target price on shares of Oscar Health from $28.00 to $30.00 and gave the stock an "underperform" rating in a research report on Thursday, September 17th. Barclays lifted their target price on shares of Oscar Health from $39.00 to $49.00 and gave the stock an "overweight" rating in a research note on Thursday, September 17th. UBS Group boosted their price target on Oscar Health from $26.00 to $36.00 and gave the company a "neutral" rating in a report on Monday, October 12th. Finally, Raymond James Financial increased their price target on Oscar Health from $34.00 to $42.00 and gave the stock an "outperform" rating in a research note on Friday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $34.90.

Oscar Health Stock Performance

The firm has a market capitalization of $10.95 billion, a PE ratio of 25.22, a price-to-earnings-growth ratio of 0.34 and a beta of 2.56. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.09 and a current ratio of 1.09. The company's fifty day moving average price is $31.68 and its two-hundred day moving average price is $23.72.

Oscar Health (NYSE:OSCR - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $1.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.70. The firm had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $4.73 billion. Oscar Health had a net margin of 3.60% and a return on equity of 38.45%. Oscar Health's revenue was up 70.4% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.89) earnings per share. As a group, equities analysts expect that Oscar Health, Inc. will post 1.83 earnings per share for the current year.

Insider Activity at Oscar Health

In other news, CAO Victoria Baltrus sold 958 shares of the company's stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $31.45, for a total transaction of $30,129.10. Following the completion of the sale, the chief accounting officer directly owned 213,631 shares in the company, valued at $6,718,694.95. This represents a 0.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 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, Director Vanessa Wittman sold 25,000 shares of the company's stock in a transaction on Friday, September 18th. The stock was sold at an average price of $32.24, for a total value of $806,000.00. Following the sale, the director owned 112,121 shares of the company's stock, valued at approximately $3,614,781.04. The trade was a 18.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 874,451 shares of company stock worth $26,761,671. 22.64% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Oscar Health

Large investors have recently modified their holdings of the company. Financial Management Professionals Inc. purchased a new stake in Oscar Health during the third quarter worth approximately $26,000. CoreCap Advisors LLC raised its stake in shares of Oscar Health by 526.3% in the 2nd quarter. CoreCap Advisors LLC now owns 1,190 shares of the company's stock valued at $34,000 after acquiring an additional 1,000 shares during the period. GAMMA Investing LLC raised its stake in shares of Oscar Health by 32.9% in the 2nd quarter. GAMMA Investing LLC now owns 1,441 shares of the company's stock valued at $41,000 after acquiring an additional 357 shares during the period. FNY Investment Advisers LLC acquired a new position in shares of Oscar Health during the 2nd quarter valued at $57,000. Finally, Allworth Financial LP lifted its holdings in shares of Oscar Health by 124.9% during the 2nd quarter. Allworth Financial LP now owns 2,031 shares of the company's stock valued at $58,000 after acquiring an additional 1,128 shares in the last quarter. 75.70% of the stock is currently owned by hedge funds and other institutional investors.

Oscar Health Company Profile

Oscar Health, Inc is a technology-focused health insurance company that provides health plans and related services in the United States. The company primarily serves individuals and families purchasing coverage through the Affordable Care Act's health insurance marketplace, as well as small businesses and their employees.

Oscar combines health insurance products with digital tools designed to help members manage their care. Its services include online enrollment, virtual care, provider search and appointment support, care navigation, claims and benefits information, and member engagement through web and mobile applications.

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