Oscar Health (NYSE:OSCR) Shares Gap Up – Here’s Why

Oscar Health, Inc. (NYSE:OSCR)’s share price gapped up before the market opened on Monday . The stock had previously closed at $14.35, but opened at $15.24. Oscar Health shares last traded at $14.97, with a volume of 345,813 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on OSCR shares. Piper Sandler reaffirmed an “overweight” rating and issued a $28.00 price target on shares of Oscar Health in a report on Tuesday, September 10th. Jefferies Financial Group began coverage on Oscar Health in a research note on Tuesday, December 10th. They issued an “underperform” rating and a $12.00 target price on the stock. Bank of America downgraded Oscar Health from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $21.00 to $13.50 in a research note on Wednesday, November 6th. Finally, UBS Group initiated coverage on Oscar Health in a research note on Monday, October 7th. They issued a “neutral” rating and a $23.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $21.56.

Oscar Health Stock Performance

The business’s fifty day moving average price is $15.24 and its 200-day moving average price is $16.94. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a market capitalization of $3.78 billion, a PE ratio of -254.96 and a beta of 1.70.

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

Insider Buying and Selling

In other news, insider Mario Schlosser sold 6,516 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $18.08, for a total value of $117,809.28. Following the completion of the transaction, the insider now directly owns 81,962 shares in the company, valued at approximately $1,481,872.96. This represents a 7.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Joshua Kushner acquired 358,619 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were purchased at an average cost of $13.74 per share, for a total transaction of $4,927,425.06. Following the completion of the acquisition, the insider now owns 5,810,700 shares in the company, valued at $79,839,018. This represents a 6.58 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 1,055,478 shares of company stock worth $14,432,852 and have sold 103,610 shares worth $1,847,519. 25.11% of the stock is owned by company insiders.

Institutional Investors Weigh In On Oscar Health

A number of institutional investors have recently made changes to their positions in the business. State Street Corp increased its stake in shares of Oscar Health by 6.0% in the third quarter. State Street Corp now owns 5,132,802 shares of the company’s stock worth $108,867,000 after buying an additional 291,335 shares during the period. Versor Investments LP bought a new position in shares of Oscar Health during the third quarter valued at about $787,000. Janney Montgomery Scott LLC purchased a new stake in shares of Oscar Health during the third quarter worth about $988,000. Algert Global LLC boosted its holdings in shares of Oscar Health by 63.3% during the third quarter. Algert Global LLC now owns 369,685 shares of the company’s stock worth $7,841,000 after purchasing an additional 143,346 shares during the period. Finally, Point72 Asset Management L.P. grew its stake in shares of Oscar Health by 30.3% in the third quarter. Point72 Asset Management L.P. now owns 1,212,096 shares of the company’s stock worth $25,709,000 after purchasing an additional 281,858 shares during the last quarter. Hedge funds and other institutional investors 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.