Oscar Health (NYSE:OSCR) Shares Gap Down - What's Next?

Key Points

• Oscar Health shares opened lower, falling from a prior close of $32.13 to $31.00 before trading near $31.47.
• Analyst sentiment remains mixed: Raymond James raised its price target to $42, while Stephens and Goldman Sachs maintained $34 targets. The consensus rating is “Hold”, with an average price target of $33.90.
• The company reported strong quarterly results, including $1.10 in EPS versus a $0.40 estimate and 70.4% year-over-year revenue growth. However, insiders sold 4.32 million shares worth approximately $126.8 million over the past 90 days.

Oscar Health, Inc. (NYSE:OSCR - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $32.13, but opened at $31.00. Oscar Health shares last traded at $31.47, with a volume of 1,011,724 shares.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Raymond James Financial upped their target price on Oscar Health from $34.00 to $42.00 and gave the company an "outperform" rating in a report on Friday. Stephens reiterated an "equal weight" rating and set a $34.00 price target on shares of Oscar Health in a report on Thursday. The Goldman Sachs Group reissued a "neutral" rating and issued a $34.00 price objective on shares of Oscar Health in a research report on Thursday. Weiss Ratings upgraded Oscar Health from a "sell (d+)" rating to a "hold (c+)" rating in a research note on Tuesday, August 11th. Finally, Wall Street Zen raised Oscar Health from a "buy" rating to a "strong-buy" rating in a research report on Sunday, June 14th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $33.90.

Oscar Health Stock Performance

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 has a market cap of $9.83 billion, a PE ratio of 22.74, a price-to-earnings-growth ratio of 0.37 and a beta of 2.37. The company's 50 day moving average price is $30.75 and its 200-day moving average price is $24.09.

Oscar Health (NYSE:OSCR - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $1.10 EPS for the quarter, beating the consensus estimate of $0.40 by $0.70. Oscar Health had a return on equity of 38.45% and a net margin of 3.60%.The business had revenue of $4.88 billion for the quarter, compared to the consensus estimate of $4.73 billion. During the same quarter in the prior year, the business earned ($0.89) earnings per share. Oscar Health's revenue for the quarter was up 70.4% on a year-over-year basis. Equities research analysts anticipate that Oscar Health, Inc. will post 1.74 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Mario Schlosser sold 880,000 shares of the stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $29.38, for a total transaction of $25,854,400.00. Following the completion of the transaction, the director owned 480,866 shares in the company, valued at approximately $14,127,843.08. This represents a 64.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mark Bertolini sold 624,244 shares of Oscar Health stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $28.48, for a total value of $17,778,469.12. Following the completion of the sale, the chief executive officer directly owned 7,751,570 shares of the company's stock, valued at approximately $220,764,713.60. This trade represents a 7.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders have sold 4,322,257 shares of company stock valued at $126,818,346 in the last 90 days. Insiders own 22.64% of the company's stock.

Hedge Funds Weigh In On Oscar Health

Several large investors have recently modified their holdings of the business. BIT Capital GmbH boosted its stake in Oscar Health by 545.0% in the 4th quarter. BIT Capital GmbH now owns 6,186,267 shares of the company's stock worth $88,897,000 after purchasing an additional 5,227,152 shares during the period. Bank of America Corp DE boosted its position in shares of Oscar Health by 205.1% in the first quarter. Bank of America Corp DE now owns 2,860,310 shares of the company's stock valued at $32,808,000 after acquiring an additional 1,922,732 shares during the period. Wedge Capital Management L L P NC purchased a new position in Oscar Health during the second quarter valued at approximately $32,855,000. Dimensional Fund Advisors LP increased its holdings in Oscar Health by 22.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,192,777 shares of the company's stock worth $48,078,000 after acquiring an additional 759,837 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in Oscar Health by 1,016.9% in the 4th quarter. BNP Paribas Financial Markets now owns 728,920 shares of the company's stock valued at $10,475,000 after purchasing an additional 663,659 shares during the period. Hedge funds and other institutional investors own 75.70% of the company's stock.

About Oscar Health

Oscar Health, Inc is a technology-focused health insurance company that offers health plans and related services to individuals, families and small businesses in the United States. The company's primary business is providing Individual and Family plans through the Affordable Care Act marketplaces, along with health insurance options for small-group employers in select markets.

Oscar combines insurance coverage with digital tools designed to help members manage their care. Its offerings include online and mobile enrollment, virtual care, provider search and navigation services, claims and benefits information, and access to care teams.

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