Oscar Health (NYSE:OSCR) Stock Price Up 7.6% – What’s Next?

Oscar Health, Inc. (NYSE:OSCR) rose 7.6% during mid-day trading on Tuesday . The stock traded as high as $30.43 and last traded at $30.4860. 2,466,718 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 7,354,688 shares. The stock had previously closed at $28.34.

Wall Street Analyst Weigh In

Several research firms recently weighed in on OSCR. Weiss Ratings upgraded shares of Oscar Health from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, July 10th. UBS Group lifted their price objective on Oscar Health from $15.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Jefferies Financial Group raised Oscar Health from an “underperform” rating to a “hold” rating and increased their target price for the company from $10.00 to $16.00 in a report on Monday, April 20th. Wall Street Zen upgraded Oscar Health from a “buy” rating to a “strong-buy” rating in a research report on Sunday, June 14th. Finally, Zacks Research raised Oscar Health from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $20.78.

Oscar Health Price Performance

The firm has a market cap of $9.44 billion, a PE ratio of -53.13, a price-to-earnings-growth ratio of 1.58 and a beta of 2.34. The stock’s fifty day moving average price is $27.61 and its 200-day moving average price is $19.57. 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 earnings results on Wednesday, May 6th. The company reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.96. The business had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.90 billion. Oscar Health had a negative net margin of 0.30% and a negative return on equity of 3.26%. The company’s quarterly revenue was up 52.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.92 earnings per share. As a group, equities analysts expect that Oscar Health, Inc. will post 0.59 EPS for the current fiscal year.

Insider Activity at Oscar Health

In other news, CEO Mark T. Bertolini sold 624,244 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $28.48, for a total transaction of $17,778,469.12. Following the transaction, the chief executive officer directly owned 7,751,570 shares in the company, valued at $220,764,713.60. The trade was a 7.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Adam Mcananey sold 9,859 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $21.94, for a total value of $216,306.46. Following the transaction, the insider owned 218,096 shares in the company, valued at approximately $4,785,026.24. This represents a 4.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 3,662,466 shares of company stock worth $105,145,815 in the last 90 days. 22.64% of the stock is owned by insiders.

Institutional Investors Weigh In On Oscar Health

Several hedge funds and other institutional investors have recently made changes to their positions in OSCR. Wedge Capital Management L L P NC purchased a new position in Oscar Health during the second quarter worth approximately $32,855,000. Allied Private Wealth LLC purchased a new stake in Oscar Health in the 2nd quarter valued at $125,000. FNY Investment Advisers LLC purchased a new stake in Oscar Health in the 2nd quarter valued at $57,000. Assenagon Asset Management S.A. increased its stake in shares of Oscar Health by 1.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,247,992 shares of the company’s stock worth $35,593,000 after acquiring an additional 20,189 shares during the last quarter. Finally, Fermata Advisors LLC acquired a new stake in shares of Oscar Health in the 2nd quarter worth $205,000. 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.