Oscar Health (NYSE:OSCR) Stock Price Down 6.4% – What’s Next?

Oscar Health, Inc. (NYSE:OSCR)’s stock price dropped 6.4% on Tuesday . The company traded as low as $29.50 and last traded at $29.2760. 2,169,054 shares changed hands during trading, a decline of 69% from the average session volume of 6,986,087 shares. The stock had previously closed at $31.29.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on OSCR shares. Wall Street Zen raised Oscar Health from a “buy” rating to a “strong-buy” rating in a research report on Sunday, June 14th. Stephens reissued an “equal weight” rating and issued a $34.00 target price on shares of Oscar Health in a report on Thursday, September 17th. UBS Group raised their price target on Oscar Health from $20.00 to $26.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Weiss Ratings raised Oscar Health from a “sell (d+)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $34.00 price objective on shares of Oscar Health in a report on Thursday, September 17th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $33.90.

Oscar Health Stock Down 4.9%

The firm’s 50 day moving average is $30.75 and its two-hundred day moving average is $24.22. 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 stock has a market cap of $9.19 billion, a price-to-earnings ratio of 21.28, a P/E/G ratio of 0.37 and a beta of 2.37.

Oscar Health (NYSE:OSCR) last announced its quarterly earnings data on Thursday, August 6th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.70. The business had revenue of $4.88 billion for the quarter, compared to the consensus estimate of $4.73 billion. Oscar Health had a net margin of 3.60% and a return on equity of 38.45%. The company’s quarterly revenue was up 70.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.89) earnings per share. On average, sell-side analysts predict that Oscar Health, Inc. will post 1.74 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Richard Blackley sold 28,869 shares of the company’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $31.45, for a total value of $907,930.05. Following the completion of the transaction, the chief financial officer directly owned 1,046,108 shares in the company, valued at approximately $32,900,096.60. This represents a 2.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed 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, CEO Mark T. Bertolini sold 624,244 shares of the stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $28.48, for a total value of $17,778,469.12. Following the transaction, the chief executive officer owned 7,751,570 shares in the company, valued at $220,764,713.60. This trade represents a 7.45% decrease in their ownership of the stock. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 3,294,757 shares of company stock worth $96,630,396. 22.64% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of OSCR. CoreCap Advisors LLC boosted its position in shares of Oscar Health by 526.3% in the second quarter. CoreCap Advisors LLC now owns 1,190 shares of the company’s stock worth $34,000 after acquiring an additional 1,000 shares during the last quarter. GAMMA Investing LLC increased its position in Oscar Health by 32.9% during the second quarter. GAMMA Investing LLC now owns 1,441 shares of the company’s stock worth $41,000 after purchasing an additional 357 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in Oscar Health during the second quarter worth approximately $57,000. Allworth Financial LP raised its stake in Oscar Health by 124.9% during the second quarter. Allworth Financial LP now owns 2,031 shares of the company’s stock worth $58,000 after purchasing an additional 1,128 shares during the period. Finally, IFP Advisors Inc boosted its holdings in shares of Oscar Health by 69.5% in the 2nd quarter. IFP Advisors Inc now owns 2,139 shares of the company’s stock valued at $61,000 after purchasing an additional 877 shares during the last quarter. 75.70% of the stock is currently owned by hedge funds and other 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.