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

Oscar Health, Inc. (NYSE:OSCR)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $20.50, but opened at $22.25. Oscar Health shares last traded at $23.0750, with a volume of 2,108,287 shares changing hands.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Wall Street Zen raised Oscar Health from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 9th. Robert W. Baird boosted their price objective on Oscar Health from $15.00 to $19.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Zacks Research raised shares of Oscar Health from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Wolfe Research initiated coverage on shares of Oscar Health in a report on Tuesday, May 5th. They issued a “peer perform” rating on the stock. Finally, Wells Fargo & Company set a $20.00 price objective on Oscar Health and gave the company an “equal weight” rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $20.22.

Oscar Health Stock Up 14.8%

The company has a debt-to-equity ratio of 0.26, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market cap of $7.09 billion, a P/E ratio of -40.03, a PEG ratio of 1.48 and a beta of 2.37. The stock has a 50-day moving average of $17.92 and a 200 day moving average of $15.93.

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

Insider Activity at Oscar Health

In other Oscar Health news, CFO Richard Scott Blackley sold 100,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $23.16, for a total transaction of $2,316,000.00. Following the transaction, the chief financial officer directly owned 1,216,660 shares in the company, valued at approximately $28,177,845.60. This represents a 7.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mark T. Bertolini purchased 1,000,000 shares of the business’s stock in a transaction on Monday, April 6th. The shares were acquired at an average price of $11.92 per share, for a total transaction of $11,920,000.00. Following the completion of the acquisition, the chief executive officer directly owned 10,196,876 shares in the company, valued at approximately $121,546,761.92. This represents a 10.87% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 24.39% of the company’s stock.

Institutional Trading of Oscar Health

A number of institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP raised its stake in Oscar Health by 439.8% in the 3rd quarter. Quarry LP now owns 1,803 shares of the company’s stock valued at $34,000 after acquiring an additional 1,469 shares during the period. Tsfg LLC bought a new position in shares of Oscar Health in the third quarter worth approximately $38,000. Jones Financial Companies Lllp increased its position in shares of Oscar Health by 7,473.3% in the first quarter. Jones Financial Companies Lllp now owns 2,272 shares of the company’s stock worth $30,000 after purchasing an additional 2,242 shares during the last quarter. Strs Ohio bought a new stake in Oscar Health during the first quarter worth about $30,000. Finally, Fifth Third Bancorp lifted its stake in Oscar Health by 148.7% during the fourth quarter. Fifth Third Bancorp now owns 2,363 shares of the company’s stock worth $34,000 after purchasing an additional 1,413 shares during the last quarter. 75.70% of the stock is owned by hedge funds and other institutional investors.

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.