Oscar Health (NYSE:OSCR) Stock Price Down 4.5% – Here’s Why

Oscar Health, Inc. (NYSE:OSCR) dropped 4.5% on Monday . The stock traded as low as $13.16 and last traded at $13.46. Approximately 733,851 shares traded hands during trading, a decline of 79% from the average daily volume of 3,486,025 shares. The stock had previously closed at $14.09.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. UBS Group started coverage on Oscar Health in a report on Monday, October 7th. They set a “neutral” rating and a $23.00 price target on the stock. Piper Sandler reissued an “overweight” rating and issued a $28.00 target price on shares of Oscar Health in a research note on Tuesday, September 10th. Bank of America lowered shares of Oscar Health from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $21.00 to $13.50 in a report on Wednesday, November 6th. Finally, Jefferies Financial Group assumed coverage on shares of Oscar Health in a report on Tuesday, December 10th. They set an “underperform” rating and a $12.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $21.56.

Oscar Health Trading Down 1.5 %

The stock has a market capitalization of $3.31 billion, a P/E ratio of -223.30 and a beta of 1.63. The stock’s fifty day moving average price is $15.73 and its 200 day moving average price is $17.31. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.73 and a quick ratio of 0.73.

Oscar Health (NYSE:OSCR) last issued its earnings results on Thursday, November 7th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.02). The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.33 billion. Oscar Health had a return on equity of 2.79% and a net margin of 0.35%. Oscar Health’s revenue was up 68.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.29) earnings per share. Research analysts forecast that Oscar Health, Inc. will post -0.01 earnings per share for the current year.

Insiders Place Their Bets

In other Oscar Health news, Director Thrive Partners Vii Growth Gp, purchased 420,819 shares of the stock in a transaction dated Tuesday, November 12th. The stock was purchased at an average price of $13.68 per share, with a total value of $5,756,803.92. Following the transaction, the director now owns 5,452,081 shares of the company’s stock, valued at approximately $74,584,468.08. This trade represents a 8.36 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Joshua Kushner acquired 358,619 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were acquired at an average price of $13.74 per share, for a total transaction of $4,927,425.06. Following the completion of the purchase, the insider now owns 5,810,700 shares of the company’s stock, valued at approximately $79,839,018. This represents a 6.58 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 1,055,478 shares of company stock worth $14,432,852 and have sold 103,610 shares worth $1,847,519. 25.11% of the stock is currently owned by company insiders.

Institutional Trading of Oscar Health

Hedge funds have recently bought and sold shares of the stock. Point72 Hong Kong Ltd purchased a new position in shares of Oscar Health in the 2nd quarter valued at $78,000. Quest Partners LLC bought a new stake in Oscar Health during the second quarter valued at about $93,000. KBC Group NV grew its stake in Oscar Health by 41.2% in the third quarter. KBC Group NV now owns 4,552 shares of the company’s stock valued at $97,000 after purchasing an additional 1,328 shares during the last quarter. Amalgamated Bank raised its holdings in Oscar Health by 27.7% in the second quarter. Amalgamated Bank now owns 6,727 shares of the company’s stock worth $106,000 after purchasing an additional 1,458 shares in the last quarter. Finally, Optimum Investment Advisors bought a new position in Oscar Health in the third quarter worth about $142,000. Hedge funds and other institutional investors own 75.70% of the company’s stock.

Oscar Health Company Profile

Oscar Health, Inc operates as a health insurance in the United States. The company offers health plans in individual and small group markets, as well as +Oscar, a technology driven platform that help providers and payors directly enable their shift to value-based care. It also provides reinsurance products.