Oscar Health (NYSE:OSCR) Reaches New 52-Week High – What’s Next?

Shares of Oscar Health, Inc. (NYSE:OSCR) hit a new 52-week high during trading on Wednesday . The company traded as high as $24.28 and last traded at $23.71, with a volume of 2677908 shares changing hands. The stock had previously closed at $23.73.

Wall Street Analysts Forecast Growth

OSCR has been the topic of a number of research reports. Jefferies Financial Group upgraded shares of Oscar Health from an “underperform” rating to a “hold” rating and boosted their target price for the company from $10.00 to $16.00 in a report on Monday, April 20th. Weiss Ratings reiterated a “sell (d)” rating on shares of Oscar Health in a report on Tuesday, April 21st. Raymond James Financial upgraded shares of Oscar Health from a “market perform” rating to an “outperform” rating and set a $18.00 target price for the company in a report on Thursday, February 12th. Wall Street Zen upgraded shares of Oscar Health from a “hold” rating to a “strong-buy” rating in a report on Saturday. Finally, Barclays lifted their target price on shares of Oscar Health from $18.00 to $21.00 and gave the company an “equal weight” rating in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $18.22.

Oscar Health Price Performance

The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.26. The firm has a fifty day moving average price of $14.96 and a two-hundred day moving average price of $15.32. The stock has a market capitalization of $7.13 billion, a P/E ratio of -40.65, a P/E/G ratio of 1.54 and a beta of 2.34.

Oscar Health (NYSE:OSCR) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.96. Oscar Health had a negative net margin of 0.30% and a negative return on equity of 3.26%. The firm had revenue of $4.65 billion for the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter in the prior year, the company posted $0.92 earnings per share. The business’s revenue for the quarter was up 52.6% on a year-over-year basis. On average, analysts expect that Oscar Health, Inc. will post 0.47 EPS for the current year.

Insider Activity at Oscar Health

In other news, CEO Mark T. Bertolini purchased 1,000,000 shares of the business’s stock in a transaction dated Monday, April 6th. The shares were purchased at an average price of $11.92 per share, for a total transaction of $11,920,000.00. Following the completion of the acquisition, the chief executive officer directly owned 10,196,876 shares in the company, valued at $121,546,761.92. This represents a 10.87% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 25.11% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of OSCR. OneDigital Investment Advisors LLC raised its holdings in shares of Oscar Health by 0.6% during the third quarter. OneDigital Investment Advisors LLC now owns 138,271 shares of the company’s stock valued at $2,617,000 after purchasing an additional 779 shares during the last quarter. Focus Partners Wealth raised its holdings in shares of Oscar Health by 1.4% during the third quarter. Focus Partners Wealth now owns 57,787 shares of the company’s stock valued at $1,094,000 after purchasing an additional 824 shares during the last quarter. Equitable Holdings Inc. raised its holdings in shares of Oscar Health by 7.0% during the fourth quarter. Equitable Holdings Inc. now owns 12,975 shares of the company’s stock valued at $186,000 after purchasing an additional 850 shares during the last quarter. Captrust Financial Advisors raised its holdings in shares of Oscar Health by 2.0% during the fourth quarter. Captrust Financial Advisors now owns 45,754 shares of the company’s stock valued at $657,000 after purchasing an additional 895 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC raised its holdings in shares of Oscar Health by 5.6% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 17,774 shares of the company’s stock valued at $255,000 after purchasing an additional 938 shares during the last quarter. 75.70% of the stock is owned by institutional investors.

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.