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

Oscar Health, Inc. (NYSE:OSCR) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $33.48 and last traded at $31.31, with a volume of 6863353 shares. The stock had previously closed at $32.30.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on OSCR shares. Wolfe Research started coverage on Oscar Health in a research report on Tuesday, May 5th. They set a “peer perform” rating on the stock. Barclays raised their target price on shares of Oscar Health from $35.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Wells Fargo & Company upped their price target on shares of Oscar Health from $20.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 13th. The Goldman Sachs Group reissued a “neutral” rating and issued a $30.00 price objective on shares of Oscar Health in a research note on Tuesday, August 11th. Finally, Weiss Ratings upgraded shares of Oscar Health from a “sell (d+)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, Oscar Health currently has an average rating of “Hold” and an average target price of $26.22.

Oscar Health Stock Performance

The company has a market capitalization of $9.66 billion, a P/E ratio of 22.36, a P/E/G ratio of 0.67 and a beta of 2.36. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.09 and a current ratio of 1.09. The business’s fifty day simple moving average is $29.95 and its 200-day simple moving average is $21.37.

Oscar Health (NYSE:OSCR) last released its earnings results on Thursday, August 6th. The company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.70. The business had revenue of $4.88 billion for the quarter, compared to analyst estimates of $4.73 billion. Oscar Health had a return on equity of 38.45% and a net margin of 3.60%.The business’s revenue was up 70.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.89) earnings per share. As a group, equities analysts anticipate that Oscar Health, Inc. will post 1.54 earnings per share for the current fiscal year.

Insider Transactions at Oscar Health

In other Oscar Health news, Director Mario Schlosser sold 880,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $29.38, for a total value of $25,854,400.00. Following the completion of the sale, the director owned 480,866 shares in the company, valued at approximately $14,127,843.08. The trade was a 64.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Janet Liang sold 12,475 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $21.94, for a total value of $273,701.50. Following the completion of the sale, the insider directly owned 259,057 shares of the company’s stock, valued at $5,683,710.58. The trade was a 4.59% 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. In the last ninety days, insiders sold 3,581,216 shares of company stock worth $103,424,940. 22.64% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Oscar Health

Several large investors have recently modified their holdings of the stock. Thrive Capital Management LLC boosted its holdings in shares of Oscar Health by 33.4% in the 4th quarter. Thrive Capital Management LLC now owns 6,343,617 shares of the company’s stock valued at $85,258,000 after buying an additional 1,588,395 shares during the period. Baird Financial Group Inc. bought a new position in Oscar Health in the first quarter worth about $159,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake 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 valued at $2,827,000 after acquiring an additional 8,879 shares during the period. Jones Financial Companies Lllp boosted its stake 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 valued at $30,000 after acquiring an additional 2,242 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Oscar Health by 39.0% during 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 valued at $6,169,000 after purchasing an additional 132,149 shares during the last quarter. Institutional investors 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.