Oscar Health (NYSE:OSCR) Trading Down 6.4% After Insider Selling

Oscar Health, Inc. (NYSE:OSCR)’s share price fell 6.4% during trading on Tuesday after an insider sold shares in the company. The stock traded as low as $29.50 and last traded at $29.2760. 2,169,054 shares changed hands during trading, a decline of 69% from the average daily volume of 6,986,087 shares. The stock had previously closed at $31.29.

Specifically, Director Vanessa Wittman sold 25,000 shares of the firm’s stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $32.24, for a total value of $806,000.00. Following the completion of the transaction, the director owned 112,121 shares in the company, valued at $3,614,781.04. This trade represents a 18.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analysts Forecast Growth

OSCR has been the topic of several recent analyst reports. Barclays increased their target price on shares of Oscar Health from $39.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, September 17th. Zacks Research raised shares of Oscar Health from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. Raymond James Financial increased their price objective on Oscar Health from $34.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, September 18th. The Goldman Sachs Group reissued a “neutral” rating and set a $34.00 price objective on shares of Oscar Health in a research note on Thursday, September 17th. Finally, Wells Fargo & Company upped their target price on Oscar Health from $20.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $33.90.

Oscar Health Price Performance

The firm’s 50 day simple moving average is $30.74 and its two-hundred day simple moving average is $24.44. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market capitalization of $9.42 billion, a P/E ratio of 21.79, a P/E/G ratio of 0.34 and a beta of 2.37.

Oscar Health (NYSE:OSCR) last issued its earnings results on Thursday, August 6th. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.70. The company had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $4.73 billion. Oscar Health had a return on equity of 38.45% and a net margin of 3.60%.Oscar Health’s quarterly revenue was up 70.4% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.89) EPS. As a group, analysts predict that Oscar Health, Inc. will post 1.83 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Tidal Investments LLC bought a new stake in Oscar Health during the 2nd quarter valued at $2,240,000. Integrated Wealth Concepts LLC bought a new stake in Oscar Health in the 2nd quarter worth $232,000. IFP Advisors Inc increased its position in shares of Oscar Health by 69.5% in the second quarter. IFP Advisors Inc now owns 2,139 shares of the company’s stock valued at $61,000 after acquiring an additional 877 shares during the period. Mraz Amerine & Associates Inc. bought a new position in shares of Oscar Health during the second quarter valued at about $284,000. Finally, Allworth Financial LP raised its stake in shares of Oscar Health by 124.9% during the second quarter. Allworth Financial LP now owns 2,031 shares of the company’s stock valued at $58,000 after acquiring an additional 1,128 shares during the last quarter. 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.