Oscar Health (NYSE:OSCR) Trading 4.1% Higher – Here’s Why

Shares of Oscar Health, Inc. (NYSE:OSCR) traded up 4.1% during mid-day trading on Wednesday . The company traded as high as $15.18 and last traded at $14.98. 739,484 shares were traded during trading, a decline of 67% from the average session volume of 2,250,402 shares. The stock had previously closed at $14.39.

Wall Street Analysts Forecast Growth

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

Oscar Health Stock Performance

The company has a debt-to-equity ratio of 0.26, a current ratio of 0.73 and a quick ratio of 0.73. The company’s 50-day moving average price is $15.17 and its two-hundred day moving average price is $16.92. The company has a market capitalization of $3.49 billion, a price-to-earnings ratio of -235.29 and a beta of 1.70.

Oscar Health (NYSE:OSCR) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.02). Oscar Health had a return on equity of 2.79% and a net margin of 0.35%. The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same quarter last year, the company earned ($0.29) earnings per share. The company’s quarterly revenue was up 68.3% compared to the same quarter last year. On average, equities research analysts anticipate that Oscar Health, Inc. will post -0.01 EPS for the current fiscal year.

Insider Buying and Selling

In other Oscar Health news, Director Thrive Partners Vii Growth Gp, acquired 420,819 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were purchased 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 owns 5,452,081 shares of the company’s stock, valued at approximately $74,584,468.08. This represents a 8.36 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Joshua Kushner acquired 276,040 shares of the company’s stock in a transaction on Monday, November 11th. The stock was acquired at an average cost of $13.58 per share, for a total transaction of $3,748,623.20. Following the completion of the purchase, the insider now directly owns 5,031,262 shares of the company’s stock, valued at approximately $68,324,537.96. This represents a 5.80 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 1,055,478 shares of company stock valued at $14,432,852 and have sold 103,610 shares valued at $1,847,519. 25.11% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Oscar Health by 7.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 12,028 shares of the company’s stock valued at $255,000 after buying an additional 844 shares in the last quarter. Summit Trail Advisors LLC lifted its stake in shares of Oscar Health by 5.4% in the second quarter. Summit Trail Advisors LLC now owns 20,820 shares of the company’s stock valued at $329,000 after buying an additional 1,065 shares in the last quarter. KBC Group NV lifted its stake in shares of Oscar Health by 41.2% in the third quarter. KBC Group NV now owns 4,552 shares of the company’s stock valued at $97,000 after buying an additional 1,328 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Oscar Health by 3.7% in the second quarter. Arizona State Retirement System now owns 38,059 shares of the company’s stock valued at $602,000 after buying an additional 1,351 shares in the last quarter. Finally, Amalgamated Bank lifted its position in shares of Oscar Health by 27.7% during the second quarter. Amalgamated Bank now owns 6,727 shares of the company’s stock valued at $106,000 after purchasing an additional 1,458 shares in the last quarter. 75.70% of the stock is owned by institutional investors.

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.