Oscar Health (NYSE:OSCR) Stock Price Down 6.4% - Here's What Happened

Key Points

• Oscar Health shares fell 6.4% to about $29.28 in mid-day trading, with volume roughly 69% below the average daily level.
• Analyst sentiment remains mixed but leans toward “Hold”; the consensus price target is $33.90, with Barclays raising its target to $49 while Bank of America maintained an underperform rating.
• The company recently reported stronger-than-expected quarterly results, including $1.10 earnings per share and $4.88 billion in revenue, though insiders sold 3.29 million shares worth approximately $96.6 million over the past quarter.

Oscar Health, Inc. (NYSE:OSCR - Get Free Report)'s stock price traded down 6.4% during mid-day trading on Tuesday . The stock traded as low as $29.50 and last traded at $29.2760. 2,169,054 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 6,986,087 shares. The stock had previously closed at $31.29.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Stephens reissued an "equal weight" rating and set a $34.00 target price on shares of Oscar Health in a research report on Thursday, September 17th. Weiss Ratings raised shares of Oscar Health from a "sell (d+)" rating to a "hold (c+)" rating in a research report on Tuesday, August 11th. The Goldman Sachs Group reiterated a "neutral" rating and set a $34.00 price target on shares of Oscar Health in a research note on Thursday, September 17th. Bank of America boosted their price objective on Oscar Health from $28.00 to $30.00 and gave the stock an "underperform" rating in a report on Thursday, September 17th. Finally, Barclays increased their price objective on Oscar Health from $39.00 to $49.00 and gave the stock an "overweight" rating in a research note on Thursday, September 17th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Oscar Health has a consensus rating of "Hold" and an average target price of $33.90.

Oscar Health Trading Down 4.9%

The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $9.19 billion, a PE ratio of 21.28, a P/E/G ratio of 0.37 and a beta of 2.37. The firm has a 50 day simple moving average of $30.75 and a 200 day simple moving average of $24.22.

Oscar Health (NYSE:OSCR - Get Free Report) last released its quarterly earnings data 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. Oscar Health had a return on equity of 38.45% and a net margin of 3.60%.The firm had revenue of $4.88 billion during the quarter, compared to analyst estimates of $4.73 billion. During the same quarter in the prior year, the company posted ($0.89) earnings per share. The business's quarterly revenue was up 70.4% compared to the same quarter last year. Equities analysts expect that Oscar Health, Inc. will post 1.74 earnings per share for the current fiscal year.

Insider Transactions at Oscar Health

In other news, CEO Mark Bertolini sold 624,244 shares of the firm's stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $28.48, for a total transaction of $17,778,469.12. Following the transaction, the chief executive officer owned 7,751,570 shares in the company, valued at approximately $220,764,713.60. This trade represents a 7.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through 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, insider Janet Liang sold 10,360 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 value of $325,822.00. Following the sale, the insider owned 248,697 shares of the company's stock, valued at approximately $7,821,520.65. This represents a 4.00% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 sold a total of 3,294,757 shares of company stock worth $96,630,396 over the last quarter. 22.64% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CoreCap Advisors LLC grew its position in Oscar Health by 526.3% during the second quarter. CoreCap Advisors LLC now owns 1,190 shares of the company's stock valued at $34,000 after buying an additional 1,000 shares during the period. GAMMA Investing LLC lifted its stake in shares of Oscar Health by 32.9% in the second quarter. GAMMA Investing LLC now owns 1,441 shares of the company's stock worth $41,000 after buying an additional 357 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Oscar Health in the first quarter valued at approximately $49,000. FNY Investment Advisers LLC acquired a new position in shares of Oscar Health during the 2nd quarter valued at about $57,000. Finally, Allworth Financial LP boosted its holdings in Oscar Health by 124.9% in the 2nd quarter. Allworth Financial LP now owns 2,031 shares of the company's stock valued at $58,000 after purchasing an additional 1,128 shares during the last quarter. 75.70% of the stock is currently owned by institutional investors and hedge funds.

Oscar Health Company Profile

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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