Oscar Health (NYSE:OSCR) Trading Down 5.7% – What’s Next?

Oscar Health, Inc. (NYSE:OSCR)’s share price dropped 5.7% on Thursday . The stock traded as low as $22.20 and last traded at $22.0910. Approximately 4,364,356 shares traded hands during mid-day trading, a decline of 45% from the average daily volume of 7,907,845 shares. The stock had previously closed at $23.42.

Analyst Upgrades and Downgrades

OSCR has been the topic of a number of research analyst reports. Barclays raised their price objective on shares of Oscar Health from $18.00 to $21.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Robert W. Baird increased their target price on Oscar Health from $15.00 to $19.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Wall Street Zen raised Oscar Health from a “hold” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Oscar Health in a research report on Tuesday, April 21st. Finally, Wolfe Research assumed coverage on Oscar Health in a report on Tuesday, May 5th. They set a “peer perform” rating for the company. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Oscar Health currently has an average rating of “Hold” and a consensus target price of $18.22.

Oscar Health Trading Down 5.6%

The company has a market cap of $6.67 billion, a P/E ratio of -37.48, a PEG ratio of 1.71 and a beta of 2.34. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.26. The business has a 50 day moving average price of $16.13 and a 200-day moving average price of $15.52.

Oscar Health (NYSE:OSCR) last issued its earnings results on Wednesday, May 6th. The company reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.96. Oscar Health had a negative net margin of 0.30% and a negative return on equity of 3.26%. The business had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.90 billion. During the same period in the previous year, the company earned $0.92 earnings per share. The firm’s revenue for the quarter was up 52.6% on a year-over-year basis. Analysts forecast that Oscar Health, Inc. will post 0.47 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Mark T. Bertolini bought 1,000,000 shares of the company’s stock in a transaction dated Monday, April 6th. The shares were bought at an average cost of $11.92 per share, with a total value of $11,920,000.00. Following the acquisition, the chief executive officer owned 10,196,876 shares in the company, valued at $121,546,761.92. This trade represents a 10.87% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Richard Scott Blackley sold 100,000 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $23.16, for a total transaction of $2,316,000.00. Following the completion of the sale, the chief financial officer owned 1,216,660 shares of the company’s stock, valued at $28,177,845.60. This trade represents a 7.59% 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. 24.39% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Q Fund Management Hong Kong Ltd bought a new position in shares of Oscar Health during the third quarter worth approximately $5,940,000. State of Michigan Retirement System acquired a new stake in shares of Oscar Health in the third quarter valued at approximately $27,448,000. Vanguard Group Inc. boosted its stake in shares of Oscar Health by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 20,701,250 shares of the company’s stock valued at $297,477,000 after buying an additional 540,851 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of Oscar Health by 1,097.8% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 237,882 shares of the company’s stock valued at $3,418,000 after buying an additional 218,022 shares during the period. Finally, Farallon Capital Management LLC grew its position in Oscar Health by 146.5% during the third quarter. Farallon Capital Management LLC now owns 3,639,000 shares of the company’s stock worth $68,886,000 after buying an additional 2,163,000 shares in the last quarter. 75.70% of the stock is owned by institutional investors and hedge funds.

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.