Oscar Health (NYSE:OSCR) Shares Gap Up – Should You Buy?

Oscar Health, Inc. (NYSE:OSCR) gapped up before the market opened on Thursday . The stock had previously closed at $16.48, but opened at $17.65. Oscar Health shares last traded at $17.56, with a volume of 2,821,881 shares.

Analyst Upgrades and Downgrades

Several analysts have recently commented on OSCR shares. UBS Group raised their target price on Oscar Health from $11.00 to $12.00 and gave the company a “sell” rating in a research note on Friday, November 7th. Stephens assumed coverage on shares of Oscar Health in a report on Thursday, December 11th. They issued an “equal weight” rating and a $17.00 target price on the stock. Zacks Research upgraded Oscar Health from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Wall Street Zen lowered Oscar Health from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. Finally, Piper Sandler raised Oscar Health from a “neutral” rating to an “overweight” rating and increased their price target for the company from $13.00 to $25.00 in a research report on Tuesday, November 25th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Oscar Health currently has an average rating of “Reduce” and a consensus target price of $16.29.

Oscar Health Stock Performance

The company has a market cap of $4.53 billion, a PE ratio of -15.38 and a beta of 1.90. The company’s 50 day moving average price is $15.83 and its 200-day moving average price is $16.98. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.92 and a current ratio of 0.92.

Oscar Health (NYSE:OSCR) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.53) earnings per share for the quarter, topping the consensus estimate of ($0.55) by $0.02. Oscar Health had a negative return on equity of 21.50% and a negative net margin of 2.16%.The company had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the prior year, the company earned ($0.22) EPS. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. Equities research analysts anticipate that Oscar Health, Inc. will post 0.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Oscar Health

In related news, insider Adam Mcananey sold 1,852 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $16.59, for a total value of $30,724.68. Following the completion of the transaction, the insider directly owned 179,241 shares of the company’s stock, valued at approximately $2,973,608.19. This trade represents a 1.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Richard Scott Blackley sold 25,135 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $16.59, for a total value of $416,989.65. Following the completion of the transaction, the chief financial officer directly owned 1,351,034 shares of the company’s stock, valued at $22,413,654.06. The trade was a 1.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 383,307 shares of company stock valued at $5,919,555. 24.39% of the stock is owned by corporate insiders.

Institutional Trading of Oscar Health

Institutional investors and hedge funds have recently made changes to their positions in the stock. Farther Finance Advisors LLC grew its position in Oscar Health by 4,420.7% in the third quarter. Farther Finance Advisors LLC now owns 1,311 shares of the company’s stock worth $25,000 after acquiring an additional 1,282 shares in the last quarter. LRI Investments LLC boosted its holdings in shares of Oscar Health by 377.9% in the 2nd quarter. LRI Investments LLC now owns 1,233 shares of the company’s stock worth $26,000 after purchasing an additional 975 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in 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 buying an additional 2,242 shares in the last quarter. Strs Ohio bought a new position in Oscar Health during the first quarter valued at approximately $30,000. Finally, Atlantic Union Bankshares Corp purchased a new position in shares of Oscar Health during the second quarter worth approximately $33,000. Hedge funds and other institutional investors own 75.70% of the company’s stock.

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.