Oscar Health (NYSE:OSCR) Trading 11.8% Higher After Insider Buying Activity

Shares of Oscar Health, Inc. (NYSE:OSCR) traded up 11.8% during trading on Wednesday after an insider bought additional shares in the company. The stock traded as high as $14.98 and last traded at $14.5060. 5,596,901 shares traded hands during mid-day trading, a decline of 29% from the average session volume of 7,915,168 shares. The stock had previously closed at $12.97.

Specifically, CEO Mark T. Bertolini bought 1,000,000 shares of the company’s stock in a transaction on Monday, April 6th. The stock was acquired at an average cost of $11.92 per share, for a total transaction of $11,920,000.00. Following the completion of the transaction, the chief executive officer directly owned 10,196,876 shares in the company, valued at $121,546,761.92. This trade represents a 10.87% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Wall Street Analysts Forecast Growth

Several research analysts have commented on OSCR shares. Raymond James Financial raised shares of Oscar Health from a “market perform” rating to an “outperform” rating and set a $18.00 price target on the stock in a research note on Thursday, February 12th. Barclays set a $18.00 price target on shares of Oscar Health and gave the stock an “equal weight” rating in a research note on Monday, January 5th. Stephens started coverage on shares of Oscar Health in a research note on Thursday, December 11th. They set an “equal weight” rating and a $17.00 price target on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Oscar Health in a research note on Thursday, January 22nd. Finally, UBS Group reissued a “neutral” rating and set a $15.00 price target on shares of Oscar Health in a research note on Wednesday, February 11th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $16.88.

Oscar Health Trading Up 9.7%

The firm has a market cap of $4.24 billion, a P/E ratio of -8.23 and a beta of 1.93. The firm’s fifty day moving average is $13.12 and its two-hundred day moving average is $15.73. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.44.

Oscar Health (NYSE:OSCR) last released its quarterly earnings results on Tuesday, February 10th. The company reported ($1.24) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The company had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $3.12 billion. Oscar Health had a negative net margin of 3.79% and a negative return on equity of 39.35%. The business’s revenue was up 17.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.62) EPS. Analysts predict that Oscar Health, Inc. will post 0.69 earnings per share for the current fiscal year.

Institutional Trading of Oscar Health

A number of hedge funds have recently modified their holdings of OSCR. Thrive Capital Management LLC boosted its holdings in shares of Oscar Health by 33.4% during the 4th quarter. Thrive Capital Management LLC now owns 6,343,617 shares of the company’s stock valued at $85,258,000 after buying an additional 1,588,395 shares in the last quarter. Baird Financial Group Inc. bought a new stake in shares of Oscar Health during the 1st quarter valued at $159,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Oscar Health by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 215,650 shares of the company’s stock valued at $2,827,000 after buying an additional 8,879 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Oscar Health by 7,473.3% during the 1st quarter. Jones Financial Companies Lllp now owns 2,272 shares of the company’s stock valued at $30,000 after buying an additional 2,242 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Oscar Health by 39.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 470,590 shares of the company’s stock valued at $6,169,000 after buying an additional 132,149 shares in the last quarter. Institutional investors own 75.70% of the company’s stock.

Oscar Health Company Profile

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.