Oscar Health (NYSE:OSCR) Trading Down 4.2% - Here's What Happened

Key Points

• Oscar Health shares fell 4.2% to about $30.46 in Tuesday trading, while volume was 76% below the stock’s average daily level.
• Analyst sentiment remains mixed: the consensus rating is “Hold” with an average price target of $26.22, despite recent bullish calls and target increases from Piper Sandler and Barclays.
• The company recently beat quarterly expectations, reporting $1.10 in EPS versus $0.40 expected and $4.88 billion in revenue, up 70.4% year over year; however, insiders have sold 3.58 million shares worth about $103.4 million over the past three months.

Oscar Health, Inc. (NYSE:OSCR - Get Free Report) shares fell 4.2% during trading on Tuesday . The stock traded as low as $30.75 and last traded at $30.4610. 1,744,681 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 7,194,959 shares. The stock had previously closed at $31.81.

Wall Street Analyst Weigh In

OSCR has been the subject of several research reports. Piper Sandler reaffirmed an "overweight" rating and set a $36.00 price target on shares of Oscar Health in a research report on Tuesday, July 28th. Barclays boosted their target price on shares of Oscar Health from $35.00 to $39.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. Robert W. Baird set a $27.00 price target on shares of Oscar Health in a research report on Friday, August 7th. Zacks Research raised shares of Oscar Health from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 6th. Finally, Wells Fargo & Company raised their target price on Oscar Health from $20.00 to $27.00 and gave the stock an "equal weight" rating in a report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $26.22.

Oscar Health Price Performance

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 firm has a 50-day moving average of $30.08 and a 200-day moving average of $21.62. The stock has a market cap of $9.43 billion, a PE ratio of 21.78, a PEG ratio of 0.66 and a beta of 2.36.

Oscar Health (NYSE:OSCR - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $1.10 EPS 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 analysts' expectations of $4.73 billion. Oscar Health had a return on equity of 38.45% and a net margin of 3.60%.The firm'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) EPS. Research analysts predict that Oscar Health, Inc. will post 1.54 EPS for the current year.

Insider Transactions at Oscar Health

In other news, CFO Richard Scott Blackley sold 31,683 shares of Oscar Health stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $21.94, for a total value of $695,125.02. Following the sale, the chief financial officer directly owned 1,074,977 shares of the company's stock, valued at approximately $23,584,995.38. The trade was a 2.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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, insider Janet Liang sold 12,475 shares of the business's stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $21.94, for a total value of $273,701.50. Following the completion of the sale, the insider owned 259,057 shares in the company, valued at $5,683,710.58. This represents a 4.59% 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 three months, insiders have sold 3,581,216 shares of company stock worth $103,424,940. 22.64% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Jones Financial Companies Lllp increased its position in Oscar Health by 7,473.3% in the first quarter. Jones Financial Companies Lllp now owns 2,272 shares of the company's stock worth $30,000 after purchasing an additional 2,242 shares during the last quarter. Strs Ohio purchased a new position in shares of Oscar Health in the 1st quarter worth $30,000. Fifth Third Bancorp grew its stake in shares of Oscar Health by 148.7% in the 4th quarter. Fifth Third Bancorp now owns 2,363 shares of the company's stock worth $34,000 after buying an additional 1,413 shares in the last quarter. CoreCap Advisors LLC increased its holdings 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 worth $34,000 after buying an additional 1,000 shares during the last quarter. Finally, Quarry LP increased its holdings in shares of Oscar Health by 439.8% in the 3rd quarter. Quarry LP now owns 1,803 shares of the company's stock worth $34,000 after buying an additional 1,469 shares during the last quarter. 75.70% of the stock is currently owned by institutional investors.

About Oscar Health

Oscar Health, trading on the New York Stock Exchange under the ticker OSCR, is a technology-driven health insurance company headquartered in New York, New York. Founded in 2012 by Mario Schlosser, Joshua Kushner and Kevin Nazemi, the company was built with the goal of simplifying healthcare coverage and enhancing member experience. Oscar leverages a proprietary digital platform to streamline plan enrollment, claims administration and member support, distinguishing itself in the individual, family and small group insurance markets.

The company's primary products include on-exchange individual and family medical plans under the Affordable Care Act, off-exchange plans, as well as Medicare Advantage offerings.

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