Oscar Health (NYSE:OSCR) Shares Gap Up Following Insider Buying Activity

Oscar Health, Inc. (NYSE:OSCR) gapped up before the market opened on Thursday following insider buying activity. The stock had previously closed at $13.48, but opened at $14.96. Oscar Health shares last traded at $15.07, with a volume of 717,134 shares traded.

Specifically, Director Thrive Partners Vii Growth Gp, purchased 420,819 shares of Oscar Health stock in a transaction dated Tuesday, November 12th. The shares were acquired at an average cost of $13.68 per share, for a total transaction of $5,756,803.92. Following the transaction, the director now directly owns 5,452,081 shares of the company’s stock, valued at approximately $74,584,468.08. This trade represents a 8.36 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Vice Chairman Joshua Kushner purchased 358,619 shares of Oscar Health stock in a transaction dated Wednesday, November 13th. The stock was bought at an average price of $13.74 per share, for a total transaction of $4,927,425.06. Following the completion of the transaction, the insider now directly owns 5,810,700 shares in the company, valued at $79,839,018. The trade was a 6.58 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In related news, Vice Chairman Joshua Kushner purchased 276,040 shares of Oscar Health stock in a transaction dated Monday, November 11th. The shares were acquired at an average cost of $13.58 per share, for a total transaction of $3,748,623.20. Following the transaction, the insider now directly owns 5,031,262 shares of the company’s stock, valued at approximately $68,324,537.96. This trade represents a 5.80 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. UBS Group assumed coverage on Oscar Health in a report on Monday, October 7th. They set a “neutral” rating and a $23.00 target price on the stock. Bank of America downgraded Oscar Health from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $21.00 to $13.50 in a research note on Wednesday, November 6th. Finally, Piper Sandler reissued an “overweight” rating and issued a $28.00 price target on shares of Oscar Health in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.93.

Oscar Health Trading Down 3.8 %

The company has a debt-to-equity ratio of 0.26, a current ratio of 0.73 and a quick ratio of 0.91. The business has a 50-day moving average of $18.20 and a 200-day moving average of $18.26. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of -247.50 and a beta of 1.67.

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

Institutional Trading of Oscar Health

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Point72 Hong Kong Ltd acquired a new position in Oscar Health during the second quarter worth approximately $78,000. Quest Partners LLC acquired a new position in Oscar Health during the second quarter worth approximately $93,000. KBC Group NV increased its position in Oscar Health by 41.2% during the third quarter. KBC Group NV now owns 4,552 shares of the company’s stock worth $97,000 after buying an additional 1,328 shares during the last quarter. Amalgamated Bank increased its position in Oscar Health by 27.7% during the second quarter. Amalgamated Bank now owns 6,727 shares of the company’s stock worth $106,000 after buying an additional 1,458 shares during the last quarter. Finally, Optimum Investment Advisors acquired a new position in Oscar Health during the third quarter worth approximately $142,000. Institutional investors and hedge funds own 75.70% of the company’s stock.

Oscar Health Company Profile

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.