Oscar Health (NYSE:OSCR) Trading Down 4% After Earnings Miss

Oscar Health, Inc. (NYSE:OSCR) shares were down 4% during trading on Tuesday following a dissappointing earnings announcement. The company traded as low as $16.06 and last traded at $16.08. Approximately 2,336,407 shares changed hands during mid-day trading, a decline of 22% from the average daily volume of 2,994,851 shares. The stock had previously closed at $16.75.

The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.07). Oscar Health had a net margin of 0.35% and a return on equity of 2.79%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Jefferies Financial Group began coverage on shares of Oscar Health in a research report on Tuesday, December 10th. They issued an “underperform” rating and a $12.00 price objective for the company. Bank of America lowered Oscar Health from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $21.00 to $13.50 in a research note on Wednesday, November 6th. Finally, UBS Group started coverage on Oscar Health in a research report on Monday, October 7th. They set a “neutral” rating and a $23.00 price target for the company. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $21.56.

Insiders Place Their Bets

In other news, Director Thrive Partners Vii Growth Gp, bought 420,819 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were bought at an average cost of $13.68 per share, with a total value of $5,756,803.92. Following the completion of the purchase, the director now directly owns 5,452,081 shares in the company, valued at $74,584,468.08. This represents a 8.36 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Vice Chairman Joshua Kushner purchased 276,040 shares of the company’s stock in a transaction on Monday, November 11th. The shares were purchased at an average cost of $13.58 per share, with a total value of $3,748,623.20. Following the transaction, the insider now directly owns 5,031,262 shares in the company, valued at $68,324,537.96. This trade represents a 5.80 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 1,055,478 shares of company stock valued at $14,432,852 and sold 103,610 shares valued at $1,847,519. 25.11% of the stock is owned by insiders.

Hedge Funds Weigh In On Oscar Health

A number of hedge funds have recently modified their holdings of OSCR. KBC Group NV raised its holdings in shares of Oscar Health by 56.1% during the fourth quarter. KBC Group NV now owns 7,107 shares of the company’s stock valued at $96,000 after acquiring an additional 2,555 shares in the last quarter. ORG Wealth Partners LLC bought a new position in Oscar Health in the 4th quarter worth $100,000. Alberta Investment Management Corp purchased a new stake in shares of Oscar Health in the 4th quarter worth about $138,000. Optimum Investment Advisors bought a new stake in shares of Oscar Health during the 3rd quarter valued at about $142,000. Finally, SMART Wealth LLC purchased a new position in shares of Oscar Health during the fourth quarter valued at about $180,000. Hedge funds and other institutional investors own 75.70% of the company’s stock.

Oscar Health Price Performance

The company has a market cap of $3.77 billion, a PE ratio of -254.37, a PEG ratio of 0.67 and a beta of 1.73. The firm’s 50-day moving average is $15.22 and its 200-day moving average is $16.85. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.26.

Oscar Health Company Profile

Oscar Health, Inc operates as a health insurance in the United States. The company offers health plans in individual and small group markets, as well as +Oscar, a technology driven platform that help providers and payors directly enable their shift to value-based care. It also provides reinsurance products.