Oscar Health (NYSE:OSCR) Shares Gap Up – Should You Buy?

Oscar Health, Inc. (NYSE:OSCR)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $14.95, but opened at $15.88. Oscar Health shares last traded at $16.20, with a volume of 3,579,398 shares.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on OSCR shares. Wells Fargo & Company lowered Oscar Health from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $20.00 to $16.00 in a report on Thursday, March 13th. Piper Sandler dropped their price objective on Oscar Health from $25.00 to $18.00 and set an “overweight” rating for the company in a report on Monday, June 9th. Finally, Wall Street Zen cut Oscar Health from a “buy” rating to a “hold” rating in a research report on Sunday, June 8th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $16.50.

Oscar Health Stock Up 8.7%

The company has a debt-to-equity ratio of 0.26, a current ratio of 0.73 and a quick ratio of 0.73. The business has a fifty day moving average of $14.09 and a 200 day moving average of $14.44. The stock has a market cap of $4.14 billion, a price-to-earnings ratio of -809.25 and a beta of 1.73.

Oscar Health (NYSE:OSCR) last issued its earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.09. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.87 billion. Oscar Health had a net margin of 0.28% and a return on equity of 2.28%. Oscar Health’s revenue was up 42.2% on a year-over-year basis. During the same period last year, the business posted $0.62 EPS. On average, equities analysts predict that Oscar Health, Inc. will post 0.69 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Elbert O. Jr. Robinson sold 25,000 shares of Oscar Health stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $16.43, for a total transaction of $410,750.00. Following the sale, the director now owns 64,512 shares in the company, valued at $1,059,932.16. This trade represents a 27.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 24.39% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Oscar Health by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 19,698,442 shares of the company’s stock valued at $258,247,000 after acquiring an additional 700,469 shares during the last quarter. Deerfield Management Company L.P. Series C raised its stake in Oscar Health by 50.7% during the fourth quarter. Deerfield Management Company L.P. Series C now owns 11,835,000 shares of the company’s stock valued at $159,062,000 after buying an additional 3,983,325 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in Oscar Health by 4.1% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 11,826,245 shares of the company’s stock worth $155,043,000 after acquiring an additional 467,301 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Oscar Health by 348.7% during the 4th quarter. JPMorgan Chase & Co. now owns 10,360,529 shares of the company’s stock valued at $139,246,000 after acquiring an additional 8,051,379 shares during the last quarter. Finally, Thrive Capital Management LLC grew its holdings in shares of Oscar Health by 33.4% during the 4th quarter. Thrive Capital Management LLC now owns 6,343,617 shares of the company’s stock valued at $85,258,000 after acquiring an additional 1,588,395 shares in the last quarter. Hedge funds and other institutional investors own 75.70% of the company’s stock.

About Oscar Health

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.