Oscar Health (NYSE:OSCR) Shares Gap Up to $18.97

Shares of Oscar Health, Inc. (NYSE:OSCR) gapped up before the market opened on Tuesday . The stock had previously closed at $18.97, but opened at $20.60. Oscar Health shares last traded at $19.89, with a volume of 2,051,735 shares changing hands.

Analyst Ratings Changes

A number of brokerages have issued reports on OSCR. TheStreet raised shares of Oscar Health from a “d” rating to a “c-” rating in a report on Wednesday, February 21st. Wells Fargo & Company upped their price target on shares of Oscar Health from $12.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, February 15th. Raymond James assumed coverage on shares of Oscar Health in a report on Friday, March 22nd. They issued an “outperform” rating and a $20.00 price target on the stock. Finally, The Goldman Sachs Group upped their price target on shares of Oscar Health from $8.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Oscar Health has an average rating of “Moderate Buy” and a consensus price target of $13.50.

Oscar Health Trading Up 4.7 %

The firm’s fifty day moving average price is $15.30 and its two-hundred day moving average price is $11.76. The stock has a market cap of $4.56 billion, a P/E ratio of -16.82 and a beta of 1.66. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.19 and a quick ratio of 1.19.

Oscar Health (NYSE:OSCR) last announced its earnings results on Wednesday, February 7th. The company reported ($0.66) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.74) by $0.08. Oscar Health had a negative net margin of 4.62% and a negative return on equity of 29.99%. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the business earned ($1.05) earnings per share. The firm’s quarterly revenue was up 43.9% compared to the same quarter last year. As a group, equities research analysts forecast that Oscar Health, Inc. will post -0.23 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its position in Oscar Health by 19.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,125,355 shares of the company’s stock valued at $6,268,000 after buying an additional 182,206 shares during the period. Graham Capital Management L.P. purchased a new stake in Oscar Health during the third quarter valued at about $894,000. Versor Investments LP purchased a new stake in Oscar Health during the third quarter valued at about $553,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Oscar Health by 270.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 265,031 shares of the company’s stock valued at $2,425,000 after buying an additional 193,512 shares during the period. Finally, Dark Forest Capital Management LP purchased a new stake in Oscar Health during the third quarter valued at about $581,000. 75.70% of the stock is currently owned by hedge funds and other institutional investors.

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.