Oscar Health (NYSE:OSCR) Shares Up 10% – Here’s Why
by Tristan Rich · The Markets DailyOscar Health, Inc. (NYSE:OSCR – Get Free Report) rose 10% during trading on Wednesday . The company traded as high as $15.04 and last traded at $15.04. Approximately 4,377,830 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 8,617,687 shares. The stock had previously closed at $13.67.
Wall Street Analysts Forecast Growth
OSCR has been the subject of several recent research reports. UBS Group reissued a “neutral” rating and issued a $15.00 price target on shares of Oscar Health in a research report on Wednesday, February 11th. Stephens started coverage on Oscar Health in a report on Thursday, December 11th. They issued an “equal weight” rating and a $17.00 target price for the company. Piper Sandler upgraded Oscar Health from a “neutral” rating to an “overweight” rating and upped their price target for the company from $13.00 to $25.00 in a research report on Tuesday, November 25th. Wall Street Zen raised Oscar Health from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Finally, Raymond James Financial raised shares of Oscar Health from a “market perform” rating to an “outperform” rating and set a $18.00 price target for the company in a report on Thursday, February 12th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $16.88.
Get Our Latest Analysis on Oscar Health
Oscar Health Stock Performance
The stock has a market cap of $4.51 billion, a price-to-earnings ratio of -8.71 and a beta of 1.91. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.44. The firm has a fifty day simple moving average of $14.67 and a 200-day simple moving average of $16.62.
Oscar Health (NYSE:OSCR – Get Free Report) last released its earnings results on Tuesday, February 10th. The company reported ($1.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.32). The firm had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $3.12 billion. Oscar Health had a negative return on equity of 39.35% and a negative net margin of 3.79%.The company’s revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.62) EPS. Analysts forecast that Oscar Health, Inc. will post 0.69 EPS for the current fiscal year.
Insider Activity at Oscar Health
In other news, insider Mario Schlosser sold 23,038 shares of the stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $17.65, for a total value of $406,620.70. Following the transaction, the insider owned 350,180 shares of the company’s stock, valued at $6,180,677. This represents a 6.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders have sold 138,835 shares of company stock worth $2,298,269. Insiders own 25.11% of the company’s stock.
Hedge Funds Weigh In On Oscar Health
Several hedge funds have recently added to or reduced their stakes in OSCR. Virtu Financial LLC boosted its stake in Oscar Health by 99.4% during the 4th quarter. Virtu Financial LLC now owns 127,647 shares of the company’s stock worth $1,834,000 after acquiring an additional 63,623 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in Oscar Health by 11.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 9,217,816 shares of the company’s stock worth $132,461,000 after purchasing an additional 910,320 shares during the period. Invesco Ltd. raised its holdings in Oscar Health by 14.4% in the fourth quarter. Invesco Ltd. now owns 303,434 shares of the company’s stock worth $4,360,000 after purchasing an additional 38,163 shares during the period. XTX Topco Ltd boosted its position in shares of Oscar Health by 16.0% during the fourth quarter. XTX Topco Ltd now owns 107,854 shares of the company’s stock worth $1,550,000 after purchasing an additional 14,865 shares in the last quarter. Finally, VARCOV Co. acquired a new position in shares of Oscar Health in the 4th quarter valued at $688,000. Institutional investors and hedge funds own 75.70% of the company’s stock.
Oscar Health Company Profile
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.