Oscar Health (NYSE:OSCR) Stock Falls 7.2% - What's Next?

Key Points

• Oscar Health shares fell 7.2% in mid-day trading to about $30.93, with trading volume roughly 69% below the stock’s average daily volume.
• Analyst sentiment remains mixed: the stock has a consensus “Hold” rating and an average price target of $34.90, while recent targets range from $27 to $36.
• The company reported strong quarterly results, with earnings of $1.10 per share—well above the $0.40 estimate—and revenue growth of 70.4% year over year. However, insiders sold $26.8 million of shares over the past 90 days, primarily through pre-arranged plans to cover taxes on vested equity awards.

Oscar Health, Inc. (NYSE:OSCR - Get Free Report)'s share price traded down 7.2% during mid-day trading on Friday. The company traded as low as $31.20 and last traded at $30.9260. Approximately 2,083,722 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 6,762,301 shares. The stock had previously closed at $33.32.

Wall Street Analysts Forecast Growth

OSCR has been the subject of a number of research reports. Wells Fargo & Company lifted their price target 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. UBS Group upped their price target on Oscar Health from $26.00 to $36.00 and gave the stock a "neutral" rating in a report on Monday, October 12th. Weiss Ratings raised Oscar Health from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, October 8th. Robert W. Baird lifted their price objective on Oscar Health from $27.00 to $33.00 and gave the stock a "neutral" rating in a report on Thursday, September 17th. Finally, Zacks Research upgraded shares of Oscar Health from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $34.90.

Oscar Health Stock Performance

The company's fifty day moving average price is $31.82 and its two-hundred day moving average price is $27.32. 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 firm has a market capitalization of $9.56 billion, a PE ratio of 22.05, a price-to-earnings-growth ratio of 0.37 and a beta of 2.47.

Oscar Health (NYSE:OSCR - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $1.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.70. The company had revenue of $4.88 billion for 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% on a year-over-year basis. During the same quarter last year, the firm posted ($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.

Insiders Place Their Bets

In other Oscar Health news, insider Janet Liang sold 10,360 shares of Oscar Health stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $31.45, for a total transaction of $325,822.00. Following the transaction, the insider directly owned 248,697 shares of the company's stock, valued at $7,821,520.65. The trade was a 4.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through 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, CFO Richard Blackley sold 28,869 shares of the business's stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $31.45, for a total transaction of $907,930.05. Following the sale, the chief financial officer owned 1,046,108 shares of the company's stock, valued at approximately $32,900,096.60. This represents a 2.69% decrease in their ownership of the stock. 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. In the last ninety days, insiders sold 874,451 shares of company stock worth $26,761,671. Corporate insiders own 22.64% of the company's stock.

Institutional Trading of Oscar Health

Institutional investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. boosted its position in shares of Oscar Health by 107.5% in the third quarter. Assenagon Asset Management S.A. now owns 2,589,708 shares of the company's stock worth $79,867,000 after buying an additional 1,341,716 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Oscar Health by 22.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,192,777 shares of the company's stock valued at $48,078,000 after buying an additional 759,837 shares during the period. Halter Ferguson Financial Inc. raised its holdings in shares of Oscar Health by 93.3% during the 3rd quarter. Halter Ferguson Financial Inc. now owns 1,211,825 shares of the company's stock valued at $37,373,000 after buying an additional 584,818 shares during the period. Wedge Capital Management L L P NC acquired a new position in shares of Oscar Health during the second quarter worth $32,855,000. Finally, Bank of America Corp DE lifted its position in shares of Oscar Health by 205.1% during the first quarter. Bank of America Corp DE now owns 2,860,310 shares of the company's stock worth $32,808,000 after purchasing an additional 1,922,732 shares in the last quarter. 75.70% of the stock is owned by hedge funds and other institutional investors.

About Oscar Health

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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