Oscar Health (NYSE:OSCR) Posts Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Oscar Health (NYSE:OSCR) issued its quarterly earnings data on Thursday. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.02), Briefing.com reports. Oscar Health had a return on equity of 1.86% and a net margin of 0.25%. The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.33 billion. During the same period in the previous year, the company posted ($0.29) earnings per share. The company’s revenue for the quarter was up 68.3% on a year-over-year basis. Oscar Health updated its FY 2024 guidance to EPS.

Oscar Health Trading Down 0.7 %

Shares of NYSE OSCR traded down $0.10 during mid-day trading on Friday, reaching $13.54. The company had a trading volume of 4,328,696 shares, compared to its average volume of 3,769,774. The business’s 50-day moving average is $18.54 and its 200-day moving average is $18.38. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.26. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of -104.15, a price-to-earnings-growth ratio of 30.80 and a beta of 1.67. Oscar Health has a 52 week low of $6.61 and a 52 week high of $23.79.

Analyst Upgrades and Downgrades

Several research firms recently commented on OSCR. Piper Sandler reaffirmed an “overweight” rating and issued a $28.00 price objective on shares of Oscar Health in a report on Tuesday, September 10th. UBS Group assumed coverage on shares of Oscar Health in a report on Monday, October 7th. They set a “neutral” rating and a $23.00 target price on the stock. Finally, Bank of America lowered shares of Oscar Health from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $21.00 to $13.50 in a report on Wednesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Oscar Health currently has a consensus rating of “Moderate Buy” and an average price target of $22.93.

Insiders Place Their Bets

In other news, EVP Alessandrea C. Quane sold 16,793 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $17.06, for a total value of $286,488.58. Following the sale, the executive vice president now directly owns 392,607 shares in the company, valued at approximately $6,697,875.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Oscar Health news, insider Mario Schlosser sold 3,198 shares of Oscar Health stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $17.99, for a total transaction of $57,532.02. Following the sale, the insider now owns 76,982 shares of the company’s stock, valued at $1,384,906.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Alessandrea C. Quane sold 16,793 shares of Oscar Health stock in a transaction on Friday, September 6th. The stock was sold at an average price of $17.06, for a total transaction of $286,488.58. Following the sale, the executive vice president now directly owns 392,607 shares in the company, valued at approximately $6,697,875.42. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 169,569 shares of company stock worth $3,007,069 in the last three months. Corporate insiders own 25.11% of the company’s stock.

About Oscar Health

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.