Oscar Health (NYSE:OSCR) Trading 2.3% Higher Following Insider Buying Activity

Oscar Health, Inc. (NYSE:OSCR)’s share price shot up 2.3% on Monday following insider buying activity. The stock traded as high as $17.97 and last traded at $17.91. 15,696 shares were traded during trading, a decline of 99% from the average session volume of 1,163,079 shares. The stock had previously closed at $17.50.

Specifically, major shareholder Thrive Partners Vii Growth Gp, purchased 1,074,342 shares of Oscar Health stock in a transaction that occurred on Tuesday, August 24th. The stock was bought at an average price of $12.69 per share, for a total transaction of $13,633,399.98. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Joshua Kushner bought 515,344 shares of the business’s stock in a transaction on Tuesday, September 14th. The shares were acquired at an average price of $18.10 per share, with a total value of $9,327,726.40. The disclosure for this purchase can be found here. Insiders have purchased a total of 4,395,078 shares of company stock worth $67,705,733 in the last quarter.

OSCR has been the topic of several research reports. Credit Suisse Group lifted their price target on shares of Oscar Health from $26.00 to $34.00 and gave the stock an “outperform” rating in a research note on Monday. Wells Fargo & Company cut their target price on shares of Oscar Health from $37.00 to $30.00 and set an “overweight” rating on the stock in a report on Friday, August 13th. Morgan Stanley cut their price target on shares of Oscar Health from $44.00 to $26.00 and set an “overweight” rating on the stock in a report on Tuesday, August 31st. Zacks Investment Research upgraded shares of Oscar Health from a “sell” rating to a “hold” rating in a report on Thursday, July 15th. Finally, Cowen started coverage on Oscar Health in a research report on Thursday, September 9th. They set a “market perform” rating and a $15.00 price objective for the company. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Oscar Health has a consensus rating of “Buy” and an average target price of $31.33.

The company has a fifty day moving average price of $16.49 and a 200-day moving average price of $22.18.

Oscar Health (NYSE:OSCR) last announced its quarterly earnings data on Thursday, August 12th. The company reported ($0.35) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.47) by $0.12. The business had revenue of $529.28 million during the quarter. Analysts predict that Oscar Health, Inc. will post -2.75 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in OSCR. First Horizon Advisors Inc. purchased a new position in shares of Oscar Health in the first quarter worth about $33,000. Advisor Group Holdings Inc. grew its holdings in Oscar Health by 155.2% in the second quarter. Advisor Group Holdings Inc. now owns 1,725 shares of the company’s stock valued at $37,000 after purchasing an additional 1,049 shares during the period. Pinz Capital Management LP acquired a new stake in Oscar Health in the second quarter valued at approximately $69,000. Rockefeller Capital Management L.P. acquired a new stake in shares of Oscar Health in the first quarter worth approximately $76,000. Finally, Royal Bank of Canada boosted its stake in shares of Oscar Health by 3,837.2% in the second quarter. Royal Bank of Canada now owns 5,709 shares of the company’s stock worth $123,000 after acquiring an additional 5,564 shares during the last quarter. Institutional investors own 69.17% of the company’s stock.

Oscar Health Company Profile (NYSE:OSCR)

Oscar Health, Inc provides health insurance products and services to individuals, families, and businesses in the United States. The company was formerly known as Mulberry Health Inc and changed its name to Oscar Health, Inc in January 2021. Oscar Health, Inc was founded in 2012 and is headquartered in New York, New York.

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