Oscar Health (NYSE:OSCR) Shares Up 6.2% – Here’s What Happened

Oscar Health, Inc. (NYSE:OSCR)’s share price rose 6.2% on Monday . The company traded as high as $25.20 and last traded at $24.7680. Approximately 5,717,625 shares traded hands during trading, a decline of 27% from the average daily volume of 7,876,867 shares. The stock had previously closed at $23.32.

Analyst Ratings Changes

OSCR has been the subject of a number of recent research reports. Jefferies Financial Group raised Oscar Health from an “underperform” rating to a “hold” rating and increased their price objective for the stock from $10.00 to $16.00 in a research report on Monday, April 20th. Wall Street Zen upgraded shares of Oscar Health from a “hold” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Barclays raised their target price on shares of Oscar Health from $18.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. UBS Group raised their target price on shares of Oscar Health from $15.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Finally, Raymond James Financial raised Oscar Health from a “market perform” rating to an “outperform” rating and set a $18.00 price target for the company in a report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $18.22.

Oscar Health Price Performance

The company’s 50 day moving average is $15.51 and its 200 day moving average is $15.40. The stock has a market cap of $7.60 billion, a price-to-earnings ratio of -42.69, a PEG ratio of 1.63 and a beta of 2.34. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.11 and a quick ratio of 1.11.

Oscar Health (NYSE:OSCR) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.96. The firm had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.90 billion. Oscar Health had a negative return on equity of 3.26% and a negative net margin of 0.30%.Oscar Health’s revenue was up 52.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.92 earnings per share. Research analysts forecast that Oscar Health, Inc. will post 0.47 earnings per share for the current fiscal year.

Insider Transactions at Oscar Health

In other news, CEO Mark T. Bertolini acquired 1,000,000 shares of Oscar Health stock in a transaction that occurred on Monday, April 6th. The stock was purchased at an average cost of $11.92 per share, with a total value of $11,920,000.00. Following the completion of the acquisition, the chief executive officer owned 10,196,876 shares in the company, valued at $121,546,761.92. This trade represents a 10.87% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 24.39% of the company’s stock.

Hedge Funds Weigh In On Oscar Health

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OSCR. Jones Financial Companies Lllp raised its position in Oscar Health by 7,473.3% during the first quarter. Jones Financial Companies Lllp now owns 2,272 shares of the company’s stock worth $30,000 after acquiring an additional 2,242 shares during the last quarter. Strs Ohio acquired a new position in shares of Oscar Health in the first quarter worth $30,000. Fifth Third Bancorp raised its holdings in shares of Oscar Health by 148.7% in the fourth quarter. Fifth Third Bancorp now owns 2,363 shares of the company’s stock worth $34,000 after acquiring an additional 1,413 shares during the last quarter. Quarry LP raised its holdings in shares of Oscar Health by 439.8% in the third quarter. Quarry LP now owns 1,803 shares of the company’s stock worth $34,000 after acquiring an additional 1,469 shares during the last quarter. Finally, Tsfg LLC acquired a new position in shares of Oscar Health in the third quarter worth $38,000. Institutional investors and hedge funds own 75.70% of the company’s stock.

About Oscar Health

Oscar Health, trading on the New York Stock Exchange under the ticker OSCR, is a technology-driven health insurance company headquartered in New York, New York. Founded in 2012 by Mario Schlosser, Joshua Kushner and Kevin Nazemi, the company was built with the goal of simplifying healthcare coverage and enhancing member experience. Oscar leverages a proprietary digital platform to streamline plan enrollment, claims administration and member support, distinguishing itself in the individual, family and small group insurance markets.

The company’s primary products include on-exchange individual and family medical plans under the Affordable Care Act, off-exchange plans, as well as Medicare Advantage offerings.