Oscar Health (NYSE:OSCR) Shares Up 8.1% – Here’s Why

Shares of Oscar Health, Inc. (NYSE:OSCR) were up 8.1% during mid-day trading on Wednesday . The stock traded as high as $30.96 and last traded at $30.8210. 1,079,339 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 7,758,098 shares. The stock had previously closed at $28.52.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on OSCR shares. Wolfe Research initiated coverage on Oscar Health in a report on Tuesday, May 5th. They set a “peer perform” rating for the company. Wells Fargo & Company set a $20.00 price objective on Oscar Health and gave the company an “equal weight” rating in a report on Thursday, June 4th. Wall Street Zen raised shares of Oscar Health from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 14th. Robert W. Baird upped their target price on shares of Oscar Health from $15.00 to $19.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Finally, Zacks Research downgraded shares of Oscar Health from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th. Three investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $20.78.

Oscar Health Stock Up 11.2%

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 market capitalization of $9.56 billion, a PE ratio of -53.70, a price-to-earnings-growth ratio of 2.06 and a beta of 2.37. The business has a 50-day moving average price of $23.56 and a 200-day moving average price of $17.55.

Oscar Health (NYSE:OSCR) last released its quarterly earnings data on Wednesday, May 6th. The company reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.96. The company had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.90 billion. Oscar Health had a negative return on equity of 3.26% and a negative net margin of 0.30%.The firm’s revenue for the quarter was up 52.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.92 earnings per share. Equities research analysts forecast that Oscar Health, Inc. will post 0.47 earnings per share for the current fiscal year.

Insider Transactions at Oscar Health

In other Oscar Health news, CEO Mark T. Bertolini sold 591,168 shares of Oscar Health stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $29.28, for a total transaction of $17,309,399.04. Following the transaction, the chief executive officer directly owned 8,990,566 shares of the company’s stock, valued at $263,243,772.48. The trade was a 6.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Mario Schlosser sold 147,500 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $29.38, for a total transaction of $4,333,550.00. Following the completion of the sale, the director directly owned 1,360,866 shares of the company’s stock, valued at approximately $39,982,243.08. This trade represents a 9.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 2,423,470 shares of company stock valued at $69,379,702 in the last three months. 25.11% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in OSCR. Vanguard Group Inc. boosted its stake in Oscar Health by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 20,701,250 shares of the company’s stock worth $297,477,000 after buying an additional 540,851 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Oscar Health by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 4,798,313 shares of the company’s stock worth $68,964,000 after acquiring an additional 116,430 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of Oscar Health by 1,097.8% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 237,882 shares of the company’s stock worth $3,418,000 after purchasing an additional 218,022 shares during the period. BIT Capital GmbH raised its position in Oscar Health by 545.0% in the fourth quarter. BIT Capital GmbH now owns 6,186,267 shares of the company’s stock valued at $88,897,000 after purchasing an additional 5,227,152 shares during the period. Finally, Farallon Capital Management LLC lifted its stake in Oscar Health by 146.5% during the third quarter. Farallon Capital Management LLC now owns 3,639,000 shares of the company’s stock worth $68,886,000 after purchasing an additional 2,163,000 shares in the last quarter. 75.70% of the stock is currently owned by institutional investors and hedge funds.

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.