Oscar Health (NYSE:OSCR) Shares Gap Up After Better-Than-Expected Earnings

Oscar Health, Inc. (NYSE:OSCR) shares gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $17.03, but opened at $18.63. Oscar Health shares last traded at $17.7730, with a volume of 8,778,228 shares trading hands.

The company reported ($0.53) earnings per share for the quarter, beating the consensus estimate of ($0.55) by $0.02. Oscar Health had a negative net margin of 1.50% and a negative return on equity of 13.78%. The firm had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the previous year, the firm posted ($0.22) earnings per share. The company’s revenue was up 23.2% on a year-over-year basis. Oscar Health has set its FY 2025 guidance at EPS.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. UBS Group reissued a “sell” rating and set a $11.00 price objective (down from $15.00) on shares of Oscar Health in a report on Tuesday, July 15th. Weiss Ratings restated a “sell (d)” rating on shares of Oscar Health in a research report on Wednesday, October 8th. Wall Street Zen downgraded shares of Oscar Health from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. The Goldman Sachs Group started coverage on shares of Oscar Health in a research report on Tuesday, October 14th. They issued a “neutral” rating and a $17.00 price objective for the company. Finally, Baird R W cut shares of Oscar Health from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 25th. Six equities research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, Oscar Health presently has an average rating of “Reduce” and a consensus price target of $13.14.

Insider Buying and Selling at Oscar Health

In other news, insider Mario Schlosser sold 395,000 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $18.43, for a total value of $7,279,850.00. Following the transaction, the insider directly owned 501,148 shares in the company, valued at approximately $9,236,157.64. This represents a 44.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 24.39% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Oscar Health

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Hsbc Holdings PLC raised its holdings in shares of Oscar Health by 2.7% in the 1st quarter. Hsbc Holdings PLC now owns 24,113 shares of the company’s stock valued at $313,000 after purchasing an additional 632 shares in the last quarter. Straightline Group LLC raised its holdings in shares of Oscar Health by 3.7% in the 2nd quarter. Straightline Group LLC now owns 18,082 shares of the company’s stock valued at $388,000 after purchasing an additional 640 shares in the last quarter. Wealthspire Advisors LLC raised its holdings in shares of Oscar Health by 6.7% in the 2nd quarter. Wealthspire Advisors LLC now owns 11,117 shares of the company’s stock valued at $238,000 after purchasing an additional 700 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Oscar Health by 14.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 7,140 shares of the company’s stock valued at $153,000 after purchasing an additional 900 shares in the last quarter. Finally, Tempus Wealth Planning LLC raised its holdings in shares of Oscar Health by 6.7% in the 1st quarter. Tempus Wealth Planning LLC now owns 14,392 shares of the company’s stock valued at $189,000 after purchasing an additional 906 shares in the last quarter. 75.70% of the stock is currently owned by institutional investors and hedge funds.

Oscar Health Price Performance

The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26. The stock’s fifty day moving average price is $19.16 and its two-hundred day moving average price is $16.74. The firm has a market capitalization of $4.58 billion, a price-to-earnings ratio of -21.82 and a beta of 1.88.

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.