Oscar Health (NYSE:OSCR) Sets New 12-Month High - Here's What Happened

Key Points

• Oscar Health shares reached a new 52-week high of $34.80, with the stock recently trading near $34.54 and above its 50-day and 200-day moving averages.
• The company reported quarterly EPS of $1.10, exceeding estimates of $0.40, while revenue rose 70.4% year over year to $4.88 billion. Analysts have an overall “Hold” rating and an average price target of $34.90.
• Insiders sold 874,451 shares worth approximately $26.8 million over the past 90 days, including a 600,000-share sale by director Mario Schlosser; institutional investors own 75.7% of the stock.

Oscar Health, Inc. (NYSE:OSCR - Get Free Report)'s share price reached a new 52-week high on Tuesday. The stock traded as high as $34.80 and last traded at $34.5370, with a volume of 44,091 shares changing hands. The stock had previously closed at $34.01.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company boosted their target price 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 report on Thursday, September 17th. Stephens reissued an "equal weight" rating and set a $34.00 price target on shares of Oscar Health in a research report on Thursday, September 17th. Weiss Ratings upgraded Oscar Health from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday. Finally, Piper Sandler restated an "overweight" rating and issued a $48.00 price target on shares of Oscar Health in a research report on Thursday, September 17th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Oscar Health has an average rating of "Hold" and an average target price of $34.90.

Oscar Health Price Performance

The business's fifty day moving average price is $31.11 and its 200 day moving average price is $26.10. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market cap of $10.50 billion, a P/E ratio of 24.48, a PEG ratio of 0.37 and a beta of 2.47.

Oscar Health (NYSE:OSCR - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $1.10 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.70. The firm had revenue of $4.88 billion for the quarter, compared to analyst estimates of $4.73 billion. Oscar Health had a net margin of 3.60% and a return on equity of 38.45%. The company's quarterly revenue was up 70.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.89) earnings per share. Sell-side analysts forecast that Oscar Health, Inc. will post 1.83 EPS for the current fiscal year.

Insider Transactions at Oscar Health

In related news, CFO Richard Blackley sold 28,869 shares of the stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $31.45, for a total value of $907,930.05. Following the completion of the sale, the chief financial officer directly owned 1,046,108 shares in the company, valued at $32,900,096.60. This represents a 2.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 Mario Schlosser sold 600,000 shares of the firm's stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $30.34, for a total value of $18,204,000.00. Following the transaction, the director owned 480,866 shares of the company's stock, valued at $14,589,474.44. This trade represents a 55.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 874,451 shares of company stock worth $26,761,671. 22.64% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. GK Wealth Management LLC acquired a new stake in Oscar Health in the third quarter worth $100,000. GAMMA Investing LLC raised its position in shares of Oscar Health by 69.7% during the third quarter. GAMMA Investing LLC now owns 2,445 shares of the company's stock worth $75,000 after purchasing an additional 1,004 shares during the period. Tidal Investments LLC acquired a new stake in Oscar Health in the 2nd quarter valued at $2,240,000. Integrated Wealth Concepts LLC acquired a new stake in Oscar Health in the 2nd quarter valued at $232,000. Finally, IFP Advisors Inc raised its holdings in Oscar Health by 69.5% during the second quarter. IFP Advisors Inc now owns 2,139 shares of the company's stock worth $61,000 after buying an additional 877 shares during the last quarter. 75.70% of the stock is owned by institutional investors and hedge funds.

Oscar Health Company Profile

Oscar Health, Inc is a technology-driven health insurance company that provides health plans and related services to individuals, families and businesses in the United States. The company primarily serves members through plans offered under the Affordable Care Act (ACA), including individual and family coverage purchased through government marketplaces.

Oscar's offerings include medical insurance plans with access to provider networks, prescription drug coverage and member support services.

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