Oscar Health (NYSE:OSCR) Shares Up 4.4% – What’s Next?

Oscar Health, Inc. (NYSE:OSCR) shares shot up 4.4% on Friday . The stock traded as high as $31.51 and last traded at $31.38. 2,907,342 shares were traded during mid-day trading, a decline of 59% from the average session volume of 7,141,643 shares. The stock had previously closed at $30.05.

Analyst Upgrades and Downgrades

OSCR has been the topic of a number of research reports. UBS Group upped their target price on shares of Oscar Health from $20.00 to $26.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Weiss Ratings upgraded shares of Oscar Health from a “sell (d+)” rating to a “hold (c+)” rating in a research report on Tuesday, August 11th. Barclays boosted their price objective on shares of Oscar Health from $35.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $30.00 price objective on shares of Oscar Health in a report on Tuesday, August 11th. Finally, Wall Street Zen upgraded Oscar Health from a “buy” rating to a “strong-buy” rating in a research report on Sunday, June 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $26.22.

Oscar Health Stock Up 2.1%

The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.21. The company has a market cap of $9.47 billion, a price-to-earnings ratio of 21.91, a price-to-earnings-growth ratio of 0.63 and a beta of 2.36. The firm’s fifty day moving average price is $30.27 and its 200-day moving average price is $22.06.

Oscar Health (NYSE:OSCR) last announced its quarterly earnings results on Thursday, August 6th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.70. The company had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $4.73 billion. Oscar Health had a return on equity of 38.45% and a net margin of 3.60%.The company’s revenue for the quarter was up 70.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.89) earnings per share. Sell-side analysts predict that Oscar Health, Inc. will post 1.54 earnings per share for the current year.

Insider Buying and Selling at Oscar Health

In related news, insider Adam Mcananey sold 9,859 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $21.94, for a total transaction of $216,306.46. Following the completion of the sale, the insider directly owned 218,096 shares of the company’s stock, valued at approximately $4,785,026.24. This represents a 4.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 Oscar Health 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 transaction, the director directly owned 1,360,866 shares in the company, valued at approximately $39,982,243.08. The trade was a 9.78% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 3,581,216 shares of company stock worth $103,424,940 in the last quarter. Company insiders own 22.64% of the company’s stock.

Hedge Funds Weigh In On Oscar Health

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OSCR. Jones Financial Companies Lllp raised its stake in shares of Oscar Health by 7,473.3% in the 1st quarter. Jones Financial Companies Lllp now owns 2,272 shares of the company’s stock valued at $30,000 after purchasing an additional 2,242 shares during the period. Strs Ohio acquired a new position in shares of Oscar Health during the first quarter worth about $30,000. Fifth Third Bancorp grew its holdings in shares of Oscar Health by 148.7% during the fourth quarter. Fifth Third Bancorp now owns 2,363 shares of the company’s stock worth $34,000 after buying an additional 1,413 shares in the last quarter. CoreCap Advisors LLC grew its holdings in shares of Oscar Health by 526.3% during the second quarter. CoreCap Advisors LLC now owns 1,190 shares of the company’s stock worth $34,000 after buying an additional 1,000 shares in the last quarter. Finally, Quarry LP raised its position in Oscar Health by 439.8% in the 3rd quarter. Quarry LP now owns 1,803 shares of the company’s stock valued at $34,000 after buying an additional 1,469 shares during the last quarter. 75.70% of the stock is owned by institutional investors and hedge funds.

About Oscar Health

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.