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

Oscar Health, Inc. (NYSE:OSCR)’s stock price hit a new 52-week high during trading on Friday . The company traded as high as $34.23 and last traded at $33.6730, with a volume of 680219 shares traded. The stock had previously closed at $32.58.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Barclays increased their target price on Oscar Health from $35.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Weiss Ratings upgraded Oscar Health from a “sell (d+)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th. Piper Sandler restated an “overweight” rating and issued a $36.00 target price on shares of Oscar Health in a research note on Tuesday, July 28th. UBS Group raised their price target on shares of Oscar Health from $20.00 to $26.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Finally, Wells Fargo & Company boosted their price objective 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. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, Oscar Health has an average rating of “Hold” and a consensus price target of $26.22.

Oscar Health Trading Up 1.3%

The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 1.09. The business has a 50-day moving average of $30.58 and a 200-day moving average of $23.27. The firm has a market cap of $10.19 billion, a price-to-earnings ratio of 23.60, a P/E/G ratio of 0.65 and a beta of 2.37.

Oscar Health (NYSE:OSCR) last issued its quarterly earnings results on Thursday, August 6th. The company reported $1.10 EPS for the quarter, beating the consensus estimate of $0.40 by $0.70. The firm had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $4.73 billion. Oscar Health had a return on equity of 38.45% and a net margin of 3.60%.The business’s quarterly revenue was up 70.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.89) earnings per share. Research analysts anticipate that Oscar Health, Inc. will post 1.54 EPS for the current year.

Insider Buying and Selling

In other Oscar Health news, insider Janet Liang sold 10,360 shares of the company’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $31.45, for a total transaction of $325,822.00. Following the sale, the insider directly owned 248,697 shares of the company’s stock, valued at approximately $7,821,520.65. This represents a 4.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through 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, Director Mario Schlosser sold 31,422 shares of the stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $31.45, for a total transaction of $988,221.90. Following the completion of the sale, the director owned 449,444 shares of the company’s stock, valued at approximately $14,135,013.80. This represents a 6.53% decrease in their position. The SEC filing for this sale provides additional information. 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 a total of 4,322,257 shares of company stock worth $126,818,346 in the last quarter. 22.64% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. T. Rowe Price Investment Management Inc. raised its holdings in shares of Oscar Health by 11.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 9,217,816 shares of the company’s stock valued at $132,461,000 after purchasing an additional 910,320 shares during the period. California State Teachers Retirement System increased its position in Oscar Health by 3,214.2% during the second quarter. California State Teachers Retirement System now owns 7,803,043 shares of the company’s stock worth $222,543,000 after buying an additional 7,567,600 shares during the last quarter. Morgan Stanley increased its position in Oscar Health by 42.8% during the fourth quarter. Morgan Stanley now owns 6,814,046 shares of the company’s stock worth $97,918,000 after buying an additional 2,043,758 shares during the last quarter. Thrive Capital Management LLC raised its stake in Oscar Health by 33.4% in the fourth 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. Finally, BIT Capital GmbH raised its stake in Oscar Health by 545.0% in the fourth quarter. BIT Capital GmbH now owns 6,186,267 shares of the company’s stock valued at $88,897,000 after buying an additional 5,227,152 shares during the period. 75.70% of the stock is currently owned by institutional investors and hedge funds.

About Oscar Health

Oscar Health, Inc is a technology-focused health insurance company that offers health plans and related services to individuals, families and small businesses in the United States. The company’s primary business is providing Individual and Family plans through the Affordable Care Act marketplaces, along with health insurance options for small-group employers in select markets.

Oscar combines insurance coverage with digital tools designed to help members manage their care. Its offerings include online and mobile enrollment, virtual care, provider search and navigation services, claims and benefits information, and access to care teams.