Oscar Health (NYSE:OSCR) Reaches New 52-Week High – Still a Buy?

Shares of Oscar Health, Inc. (NYSE:OSCR) reached a new 52-week high during mid-day trading on Tuesday. The company traded as high as $34.80 and last traded at $34.5370, with a volume of 44,091 shares trading hands. The stock had previously closed at $34.01.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on OSCR. UBS Group upped their target price on shares of Oscar Health from $26.00 to $36.00 and gave the stock a “neutral” rating in a research note on Monday. Stephens restated an “equal weight” rating and issued a $34.00 target price on shares of Oscar Health in a research note on Thursday, September 17th. Bank of America upped their target price on Oscar Health from $28.00 to $30.00 and gave the company an “underperform” rating in a report on Thursday, September 17th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $34.00 target price on shares of Oscar Health in a research report on Thursday, September 17th. Finally, Wells Fargo & Company increased their price target on shares of Oscar Health from $20.00 to $27.00 and gave the company an “equal weight” rating in a research report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $34.90.

Oscar Health Trading Up 0.1%

The firm has a 50-day simple moving average of $31.11 and a 200-day simple moving average of $26.10. 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 market cap of $10.50 billion, a PE ratio of 24.48, a P/E/G ratio of 0.37 and a beta of 2.47.

Oscar Health (NYSE:OSCR) last issued its earnings results on Thursday, August 6th. The company reported $1.10 EPS for the quarter, topping the consensus estimate of $0.40 by $0.70. The business 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 firm’s revenue was up 70.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.89) EPS. Equities analysts forecast that Oscar Health, Inc. will post 1.83 earnings per share for the current year.

Insiders Place Their Bets

In other Oscar Health news, CFO Richard Blackley sold 28,869 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $31.45, for a total value of $907,930.05. Following the sale, the chief financial officer owned 1,046,108 shares of the company’s stock, valued at $32,900,096.60. This trade represents a 2.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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 Vanessa Wittman sold 25,000 shares of Oscar Health stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of $32.24, for a total transaction of $806,000.00. Following the sale, the director owned 112,121 shares of the company’s stock, valued at approximately $3,614,781.04. The trade was a 18.23% 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. Over the last three months, insiders sold 874,451 shares of company stock worth $26,761,671. 22.64% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Oscar Health

Institutional investors and hedge funds have recently made changes to their positions in the business. CoreCap Advisors LLC increased its holdings in Oscar Health by 526.3% in the 2nd 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. GAMMA Investing LLC lifted 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 valued at $41,000 after purchasing an additional 357 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Oscar Health during the 1st quarter valued at $49,000. FNY Investment Advisers LLC bought a new position in shares of Oscar Health during the 2nd quarter valued at $57,000. Finally, Allworth Financial LP grew its holdings in shares of Oscar Health by 124.9% in the second quarter. Allworth Financial LP now owns 2,031 shares of the company’s stock worth $58,000 after acquiring an additional 1,128 shares during the period. Institutional investors own 75.70% of the company’s stock.

Oscar Health Company Profile

Oscar Health, Inc is a technology-driven health insurance company that provides health plans and related services to individuals, families and businesses in the United States. The company primarily serves members through plans offered under the Affordable Care Act (ACA), including individual and family coverage purchased through government marketplaces.

Oscar’s offerings include medical insurance plans with access to provider networks, prescription drug coverage and member support services.