Oscar Health (NYSE:OSCR) Shares Gap Up – Here’s Why

Oscar Health, Inc. (NYSE:OSCR)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $13.46, but opened at $15.12. Oscar Health shares last traded at $15.75, with a volume of 3,565,490 shares.

Analyst Ratings Changes

A number of equities research analysts recently commented on OSCR shares. Bank of America downgraded Oscar Health from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $21.00 to $13.50 in a report on Wednesday, November 6th. Jefferies Financial Group started coverage on Oscar Health in a report on Tuesday, December 10th. They set an “underperform” rating and a $12.00 target price for the company. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $21.56.

Oscar Health Price Performance

The company has a market capitalization of $3.97 billion, a price-to-earnings ratio of -802.95 and a beta of 1.73. The stock has a fifty day simple moving average of $14.75 and a 200-day simple moving average of $16.69. 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 posted its quarterly earnings data on Tuesday, February 4th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.07). Oscar Health had a net margin of 0.28% and a return on equity of 2.28%. On average, equities research analysts anticipate that Oscar Health, Inc. will post 0.69 EPS for the current year.

Insider Activity

In related news, CFO Richard Scott Blackley sold 25,279 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $18.08, for a total transaction of $457,044.32. Following the completion of the sale, the chief financial officer now directly owns 881,841 shares in the company, valued at approximately $15,943,685.28. The trade was a 2.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Victoria Baltrus sold 8,078 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $18.08, for a total value of $146,050.24. Following the sale, the chief accounting officer now owns 146,036 shares of the company’s stock, valued at $2,640,330.88. The trade was a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 78,610 shares of company stock worth $1,421,269 over the last three months. 25.11% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Oscar Health

Several large investors have recently modified their holdings of OSCR. Tower Research Capital LLC TRC lifted its stake in shares of Oscar Health by 171.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,627 shares of the company’s stock valued at $89,000 after purchasing an additional 4,185 shares during the last quarter. KBC Group NV lifted its stake in shares of Oscar Health by 56.1% in the 4th quarter. KBC Group NV now owns 7,107 shares of the company’s stock valued at $96,000 after purchasing an additional 2,555 shares during the last quarter. ORG Wealth Partners LLC acquired a new position in Oscar Health during the 4th quarter worth about $100,000. Alberta Investment Management Corp acquired a new position in Oscar Health during the 4th quarter worth about $138,000. Finally, Virtu Financial LLC acquired a new position in Oscar Health during the 4th quarter worth about $140,000. Institutional investors and hedge funds 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.