Oscar Health (NYSE:OSCR) Share Price Crosses Above 50-Day Moving Average – Here’s Why

Oscar Health, Inc. (NYSE:OSCR)’s stock price crossed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $31.68 and traded as high as $32.69. Oscar Health shares last traded at $32.3830, with a volume of 4,377,805 shares changing hands.

Wall Street Analyst Weigh In

OSCR has been the subject of several analyst reports. The Goldman Sachs Group restated a “neutral” rating and issued a $34.00 price target on shares of Oscar Health in a research report on Thursday, September 17th. Barclays upped their price objective on shares of Oscar Health from $39.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, September 17th. Piper Sandler reiterated an “overweight” rating and set a $48.00 price objective on shares of Oscar Health in a research report on Thursday, September 17th. Bank of America lifted their target price on shares of Oscar Health from $28.00 to $30.00 and gave the stock an “underperform” rating in a research note on Thursday, September 17th. Finally, Raymond James Financial boosted their target price on shares of Oscar Health from $34.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, September 18th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $34.90.

Oscar Health Stock Performance

The firm has a market capitalization of $9.99 billion, a P/E ratio of 23.13, a P/E/G ratio of 0.34 and a beta of 2.56. The stock has a fifty day simple moving average of $31.68 and a two-hundred day simple moving average of $23.72. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 1.09.

Oscar Health (NYSE:OSCR) last posted its quarterly earnings results 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 for 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. On average, research analysts predict that Oscar Health, Inc. will post 1.83 EPS for the current year.

Insider Buying and Selling

In related news, insider Adam Mcananey sold 9,092 shares of the business’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $31.45, for a total transaction of $285,943.40. Following the transaction, the insider owned 209,004 shares in the company, valued at $6,573,175.80. The trade was a 4.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 31,422 shares of the business’s stock in a transaction 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 owned 449,444 shares in the company, valued at $14,135,013.80. The trade was a 6.53% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 874,451 shares of company stock worth $26,761,671 over the last ninety days. 22.64% of the stock is owned by company insiders.

Hedge Funds Weigh In On Oscar Health

Institutional investors have recently made changes to their positions in the stock. Alps Advisors Inc. bought a new position in shares of Oscar Health during the 3rd quarter worth about $529,000. Kestra Private Wealth Services LLC acquired a new stake in shares of Oscar Health in the 3rd quarter valued at about $245,000. XML Financial LLC bought a new stake in Oscar Health in the 3rd quarter valued at about $303,000. Vise Technologies Inc. increased its position in Oscar Health by 25.4% in the 3rd quarter. Vise Technologies Inc. now owns 17,067 shares of the company’s stock valued at $526,000 after buying an additional 3,461 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Oscar Health in the 3rd quarter valued at about $632,000. Institutional investors and hedge funds own 75.70% of the company’s stock.

Oscar Health Company Profile

Oscar Health, Inc is a technology-focused health insurance company that provides health plans and related services in the United States. The company primarily serves individuals and families purchasing coverage through the Affordable Care Act’s health insurance marketplace, as well as small businesses and their employees.

Oscar combines health insurance products with digital tools designed to help members manage their care. Its services include online enrollment, virtual care, provider search and appointment support, care navigation, claims and benefits information, and member engagement through web and mobile applications.