Oscar Health (NYSE:OSCR) Shares Gap Down – What’s Next?

Oscar Health, Inc. (NYSE:OSCR)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $32.13, but opened at $31.00. Oscar Health shares last traded at $31.47, with a volume of 1,011,724 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. The Goldman Sachs Group restated a “neutral” rating and issued a $34.00 target price on shares of Oscar Health in a research note on Thursday. Wells Fargo & Company lifted their price target on Oscar Health from $20.00 to $27.00 and gave the company an “equal weight” rating in a research report on Thursday, August 13th. Stephens reissued an “equal weight” rating and set a $34.00 price objective on shares of Oscar Health in a report on Thursday. Robert W. Baird upped their price objective on shares of Oscar Health from $27.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, UBS Group raised their target price on shares of Oscar Health from $20.00 to $26.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $33.90.

Oscar Health Stock Down 0.9%

The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The stock has a 50-day simple moving average of $30.75 and a two-hundred day simple moving average of $24.09. The firm has a market cap of $9.83 billion, a PE ratio of 22.74, a P/E/G ratio of 0.37 and a beta of 2.37.

Oscar Health (NYSE:OSCR) last posted its quarterly earnings data on Thursday, August 6th. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.70. The firm had revenue of $4.88 billion during the quarter, compared to analysts’ expectations 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 business earned ($0.89) EPS. Analysts expect that Oscar Health, Inc. will post 1.74 earnings per share for the current year.

Insider Buying and Selling

In other Oscar Health news, Director Mario Schlosser sold 31,422 shares of Oscar Health stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $31.45, for a total transaction of $988,221.90. Following the transaction, the director directly owned 449,444 shares of the company’s stock, valued at approximately $14,135,013.80. This trade represents a 6.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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, CFO Richard Blackley sold 28,869 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $31.45, for a total transaction of $907,930.05. Following the completion of the sale, the chief financial officer owned 1,046,108 shares of the company’s stock, valued at approximately $32,900,096.60. The trade was a 2.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Insiders have sold a total of 4,322,257 shares of company stock worth $126,818,346 over the last ninety days. Corporate insiders own 22.64% of the company’s stock.

Institutional Trading of Oscar Health

Several hedge funds have recently added to or reduced their stakes in OSCR. BIT Capital GmbH boosted its position in Oscar Health by 545.0% during the fourth quarter. BIT Capital GmbH now owns 6,186,267 shares of the company’s stock valued at $88,897,000 after buying an additional 5,227,152 shares during the period. Bank of America Corp DE increased its holdings in shares of Oscar Health by 205.1% in the first quarter. Bank of America Corp DE now owns 2,860,310 shares of the company’s stock worth $32,808,000 after buying an additional 1,922,732 shares during the period. Wedge Capital Management L L P NC purchased a new position in shares of Oscar Health in the second quarter worth about $32,855,000. Dimensional Fund Advisors LP lifted its stake in shares of Oscar Health by 22.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,192,777 shares of the company’s stock valued at $48,078,000 after acquiring an additional 759,837 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in shares of Oscar Health by 1,016.9% in the 4th quarter. BNP Paribas Financial Markets now owns 728,920 shares of the company’s stock valued at $10,475,000 after acquiring an additional 663,659 shares during the last quarter. 75.70% of the stock is owned by institutional investors.

About Oscar Health

Oscar Health, Inc is a technology-focused health insurance company that offers health plans and related services to individuals, families and small businesses in the United States. The company’s primary business is providing Individual and Family plans through the Affordable Care Act marketplaces, along with health insurance options for small-group employers in select markets.

Oscar combines insurance coverage with digital tools designed to help members manage their care. Its offerings include online and mobile enrollment, virtual care, provider search and navigation services, claims and benefits information, and access to care teams.