Oscar Health (NYSE:OSCR) Shares Gap Down – What’s Next?

Shares of Oscar Health, Inc. (NYSE:OSCR) gapped down prior to trading on Thursday . The stock had previously closed at $20.37, but opened at $19.20. Oscar Health shares last traded at $19.00, with a volume of 3,408,798 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on OSCR shares. Piper Sandler dropped their target price on Oscar Health from $14.00 to $13.00 and set a “neutral” rating on the stock in a report on Thursday, August 14th. The Goldman Sachs Group started coverage on Oscar Health in a report on Tuesday, October 14th. They issued a “neutral” rating and a $17.00 target price on the stock. Wall Street Zen lowered Oscar Health from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. UBS Group reaffirmed a “sell” rating and set a $11.00 price target (down from $15.00) on shares of Oscar Health in a research report on Tuesday, July 15th. Finally, Zacks Research raised Oscar Health from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Six equities research analysts have rated the stock with a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat, Oscar Health has an average rating of “Reduce” and an average target price of $13.19.

Oscar Health Stock Down 1.9%

The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.26. The stock has a 50-day simple moving average of $18.87 and a 200-day simple moving average of $16.35. The firm has a market capitalization of $4.98 billion, a PE ratio of -23.77 and a beta of 1.89.

Oscar Health (NYSE:OSCR) last released its earnings results on Wednesday, August 6th. The company reported ($0.89) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.01. Oscar Health had a negative return on equity of 13.78% and a negative net margin of 1.50%.The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same period last year, the business posted $0.20 earnings per share. The business’s revenue for the quarter was up 29.0% on a year-over-year basis. Analysts forecast that Oscar Health, Inc. will post 0.69 EPS for the current year.

Insider Activity at Oscar Health

In other news, insider Mario Schlosser sold 395,000 shares of the firm’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $18.43, for a total value of $7,279,850.00. Following the completion of the transaction, the insider directly owned 501,148 shares of the company’s stock, valued at $9,236,157.64. This trade represents a 44.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 24.39% of the stock is owned by insiders.

Hedge Funds Weigh In On Oscar Health

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Oscar Health by 3.7% during the first quarter. Vanguard Group Inc. now owns 19,698,442 shares of the company’s stock valued at $258,247,000 after buying an additional 700,469 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in Oscar Health by 4.1% during the first quarter. T. Rowe Price Investment Management Inc. now owns 11,826,245 shares of the company’s stock valued at $155,043,000 after buying an additional 467,301 shares during the period. Thrive Capital Management LLC boosted its stake in Oscar Health by 33.4% during 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. BIT Capital GmbH boosted its stake in Oscar Health by 1.1% during the first quarter. BIT Capital GmbH now owns 4,521,445 shares of the company’s stock valued at $59,276,000 after buying an additional 47,592 shares during the period. Finally, Glynn Capital Management LLC boosted its stake in Oscar Health by 14.0% during the first quarter. Glynn Capital Management LLC now owns 3,115,217 shares of the company’s stock valued at $40,840,000 after buying an additional 381,980 shares during the period. 75.70% of the stock is owned by institutional investors.

About Oscar Health

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.