Oscar Health (NYSE:OSCR) Stock Price Down 4% on Disappointing Earnings

Shares of Oscar Health, Inc. (NYSE:OSCR) dropped 4% during mid-day trading on Tuesday after the company announced weaker than expected quarterly earnings. The company traded as low as $16.06 and last traded at $16.08. Approximately 2,336,407 shares were traded during trading, a decline of 22% from the average daily volume of 2,994,851 shares. The stock had previously closed at $16.75.

The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.07). Oscar Health had a net margin of 0.35% and a return on equity of 2.79%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Bank of America lowered Oscar Health from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $21.00 to $13.50 in a report on Wednesday, November 6th. Jefferies Financial Group began coverage on Oscar Health in a research note on Tuesday, December 10th. They issued an “underperform” rating and a $12.00 price objective for the company. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Oscar Health currently has a consensus rating of “Hold” and a consensus target price of $21.56.

Insiders Place Their Bets

In related news, COO Steven Wolin sold 19,580 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $18.08, for a total value of $354,006.40. Following the transaction, the chief operating officer now directly owns 102,598 shares of the company’s stock, valued at $1,854,971.84. This trade represents a 16.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Elbert O. Jr. Robinson sold 25,000 shares of the business’s stock in a transaction on 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 sale, the director now directly owns 89,512 shares of the company’s stock, valued at approximately $1,526,179.60. This trade represents a 21.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 1,055,478 shares of company stock valued at $14,432,852 and sold 103,610 shares valued at $1,847,519. 25.11% of the stock is owned by company insiders.

Institutional Trading of Oscar Health

Hedge funds and other institutional investors have recently made changes to their positions in the company. KBC Group NV boosted its position in shares of Oscar Health by 56.1% in the 4th quarter. KBC Group NV now owns 7,107 shares of the company’s stock valued at $96,000 after purchasing an additional 2,555 shares during the period. ORG Wealth Partners LLC purchased a new stake in Oscar Health in the fourth quarter valued at approximately $100,000. Alberta Investment Management Corp acquired a new stake in shares of Oscar Health in the fourth quarter valued at approximately $138,000. Optimum Investment Advisors purchased a new position in shares of Oscar Health during the third quarter worth approximately $142,000. Finally, SMART Wealth LLC acquired a new position in shares of Oscar Health in the 4th quarter valued at $180,000. Institutional investors and hedge funds own 75.70% of the company’s stock.

Oscar Health Stock Down 8.9 %

The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of -254.37, a PEG ratio of 0.67 and a beta of 1.73. The business’s fifty day moving average price is $15.20 and its 200 day moving average price is $16.85. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.26.

About Oscar Health

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.