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

Oscar Health, Inc. (NYSE:OSCR)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $32.13, but opened at $31.00. Oscar Health shares last traded at $31.47, with a volume of 1,011,724 shares trading hands.

Analyst Ratings Changes

OSCR has been the topic of a number of recent analyst reports. Zacks Research upgraded Oscar Health from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. Wells Fargo & Company boosted their price objective on Oscar Health from $20.00 to $27.00 and gave the company an “equal weight” rating in a research report on Thursday, August 13th. Raymond James Financial upped their target price on Oscar Health from $34.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday. UBS Group lifted their price target on shares of Oscar Health from $20.00 to $26.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Finally, Piper Sandler restated an “overweight” rating and set a $48.00 price objective on shares of Oscar Health in a research report on Thursday, September 17th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $33.90.

Oscar Health Trading Down 2.1%

The stock has a market capitalization of $9.46 billion, a PE ratio of 21.89, a P/E/G ratio of 0.34 and a beta of 2.37. The company’s 50 day moving average price is $30.74 and its two-hundred day moving average price is $24.33. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 1.09.

Oscar Health (NYSE:OSCR) last released its quarterly earnings data on Thursday, August 6th. The company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.70. Oscar Health had a return on equity of 38.45% and a net margin of 3.60%.The company had revenue of $4.88 billion for the quarter, compared to analyst estimates of $4.73 billion. During the same quarter in the previous year, the company posted ($0.89) earnings per share. The firm’s revenue for the quarter was up 70.4% compared to the same quarter last year. As a group, analysts expect that Oscar Health, Inc. will post 1.83 earnings per share for the current year.

Insider Activity

In other Oscar Health news, Director Vanessa Ames Wittman sold 25,000 shares of Oscar Health stock in a transaction dated Friday, September 18th. The shares were sold at an average price of $32.24, for a total transaction of $806,000.00. Following the transaction, the director directly owned 112,121 shares of the company’s stock, valued at $3,614,781.04. The trade was a 18.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mario Schlosser sold 600,000 shares of the stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $30.34, for a total transaction of $18,204,000.00. Following the completion of the sale, the director directly owned 480,866 shares of the company’s stock, valued at approximately $14,589,474.44. This trade represents a 55.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,319,757 shares of company stock valued at $97,436,396 over the last three months. 22.64% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Oscar Health

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its position in shares of Oscar Health by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 4,798,313 shares of the company’s stock worth $68,964,000 after buying an additional 116,430 shares during the period. BIT Capital GmbH raised its holdings in shares of Oscar Health by 545.0% in the 4th 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. Convergence Investment Partners LLC acquired a new position in Oscar Health during the 1st quarter worth about $1,208,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Oscar Health during the 1st quarter worth about $1,297,000. Finally, Fideuram Asset Management Ireland dac purchased a new position in Oscar Health during the 4th quarter valued at about $957,000. Hedge funds and other institutional investors own 75.70% of the company’s stock.

Oscar Health Company Profile

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.