Oscar Health (NYSE:OSCR) Sets New 52-Week High – Here’s What Happened

Oscar Health, Inc. (NYSE:OSCR) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $25.58 and last traded at $25.3740, with a volume of 13753974 shares. The stock had previously closed at $23.32.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Wolfe Research assumed coverage on Oscar Health in a report on Tuesday, May 5th. They issued a “peer perform” rating for the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Oscar Health in a report on Tuesday, April 21st. Wall Street Zen upgraded Oscar Health from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 9th. Raymond James Financial upgraded 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. Finally, Jefferies Financial Group upgraded Oscar Health from an “underperform” rating to a “hold” rating and raised their price target for the company from $10.00 to $16.00 in a report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $18.22.

Oscar Health Price Performance

The firm has a fifty day moving average price of $15.73 and a two-hundred day moving average price of $15.44. The stock has a market capitalization of $7.65 billion, a P/E ratio of -43.01, a P/E/G ratio of 1.63 and a beta of 2.34. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.26.

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

Insider Activity

In related news, CFO Richard Scott Blackley sold 100,000 shares of Oscar Health stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $23.16, for a total value of $2,316,000.00. Following the completion of the sale, the chief financial officer directly owned 1,216,660 shares in the company, valued at approximately $28,177,845.60. This trade represents a 7.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 acquired at an average price of $11.92 per share, with a total value of $11,920,000.00. Following the completion of the acquisition, the chief executive officer directly owned 10,196,876 shares in the company, valued at $121,546,761.92. This represents a 10.87% increase in their position. The disclosure for this purchase is available in the SEC filing. 25.11% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Oscar Health

Several large investors have recently bought and sold shares of OSCR. Thrive Capital Management LLC increased its holdings in Oscar Health by 33.4% in the 4th quarter. Thrive Capital Management LLC now owns 6,343,617 shares of the company’s stock worth $85,258,000 after buying an additional 1,588,395 shares in the last quarter. Baird Financial Group Inc. bought a new stake in Oscar Health in the 1st quarter worth about $159,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Oscar Health by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 215,650 shares of the company’s stock worth $2,827,000 after purchasing an additional 8,879 shares during the last quarter. Jones Financial Companies Lllp boosted its position in Oscar Health by 7,473.3% in the first quarter. Jones Financial Companies Lllp now owns 2,272 shares of the company’s stock worth $30,000 after purchasing an additional 2,242 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Oscar Health by 39.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 470,590 shares of the company’s stock worth $6,169,000 after purchasing an additional 132,149 shares during the last quarter. 75.70% of the stock is currently owned by institutional investors.

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.