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

Shares of Oscar Health, Inc. (NYSE:OSCR) gapped up prior to trading on Monday . The stock had previously closed at $15.98, but opened at $16.85. Oscar Health shares last traded at $16.06, with a volume of 372,316 shares.

Analyst Ratings Changes

A number of research analysts recently commented on OSCR shares. Piper Sandler reissued an “overweight” rating and issued a $28.00 price target on shares of Oscar Health in a report on Tuesday, September 10th. Bank of America lowered shares of Oscar Health from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $21.00 to $13.50 in a research note on Wednesday, November 6th. Finally, UBS Group assumed coverage on shares of Oscar Health in a research note on Monday, October 7th. They set a “neutral” rating and a $23.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.93.

Oscar Health Price Performance

The firm’s 50 day simple moving average is $17.90 and its two-hundred day simple moving average is $18.18. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.26.

Oscar Health (NYSE:OSCR) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.02). The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.33 billion. Oscar Health had a return on equity of 2.79% and a net margin of 0.35%. Oscar Health’s revenue was up 68.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.29) EPS. Equities research analysts predict that Oscar Health, Inc. will post -0.01 earnings per share for the current fiscal year.

Insider Activity at Oscar Health

In related news, Vice Chairman Joshua Kushner acquired 276,040 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were acquired at an average cost of $13.58 per share, for a total transaction of $3,748,623.20. Following the completion of the purchase, the insider now directly owns 5,031,262 shares in the company, valued at $68,324,537.96. This trade represents a 5.80 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Elbert O. Jr. Robinson sold 25,000 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $17.05, for a total transaction of $426,250.00. Following the completion of the transaction, the director now owns 89,512 shares of the company’s stock, valued at $1,526,179.60. This represents a 21.83 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 1,055,478 shares of company stock worth $14,432,852 and sold 194,569 shares worth $3,433,319. Insiders own 25.11% of the company’s stock.

Institutional Investors Weigh In On Oscar Health

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. grew its holdings in Oscar Health by 100.0% during the first quarter. Sei Investments Co. now owns 42,998 shares of the company’s stock worth $639,000 after acquiring an additional 21,497 shares during the period. Vanguard Group Inc. increased its holdings in shares of Oscar Health by 2.4% in the first quarter. Vanguard Group Inc. now owns 14,582,762 shares of the company’s stock valued at $216,846,000 after buying an additional 337,850 shares in the last quarter. American International Group Inc. boosted its stake in shares of Oscar Health by 1.3% during the 1st quarter. American International Group Inc. now owns 79,411 shares of the company’s stock worth $1,181,000 after acquiring an additional 1,009 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Oscar Health by 153.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,978,152 shares of the company’s stock worth $59,156,000 after acquiring an additional 2,409,160 shares during the last quarter. Finally, Bayesian Capital Management LP acquired a new position in shares of Oscar Health in the 1st quarter worth $1,066,000. 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.