Oscar Health (NYSE:OSCR) Stock Price Down 9.7% – Here’s Why

Oscar Health, Inc. (NYSE:OSCR) shares fell 9.7% during trading on Thursday . The company traded as low as $26.26 and last traded at $27.1790. 3,839,218 shares were traded during trading, a decline of 47% from the average session volume of 7,237,161 shares. The stock had previously closed at $30.11.

Wall Street Analyst Weigh In

OSCR has been the topic of a number of analyst reports. Barclays upgraded Oscar Health from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $30.00 to $35.00 in a research report on Wednesday, June 10th. Wall Street Zen upgraded Oscar Health from a “buy” rating to a “strong-buy” rating in a research report on Sunday, June 14th. Piper Sandler reiterated an “overweight” rating and set a $36.00 price target on shares of Oscar Health in a research report on Tuesday, July 28th. UBS Group increased their target price on Oscar Health from $15.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Finally, Wolfe Research initiated coverage on shares of Oscar Health in a report on Tuesday, May 5th. They issued a “peer perform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $22.00.

Oscar Health Trading Down 10.4%

The company has a market cap of $8.13 billion, a price-to-earnings ratio of -45.57, a PEG ratio of 0.89 and a beta of 2.36. The business’s 50 day moving average price is $28.74 and its 200-day moving average price is $20.25. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.26.

Oscar Health (NYSE:OSCR) last released its quarterly earnings results on Thursday, August 6th. The company reported $1.10 EPS for the quarter, beating the consensus estimate of $0.40 by $0.70. Oscar Health had a negative net margin of 0.30% and a negative return on equity of 3.26%. The business had revenue of $4.88 billion for the quarter, compared to the consensus estimate of $4.73 billion. During the same period in the prior year, the company posted ($0.89) earnings per share. Oscar Health’s revenue was up 70.4% compared to the same quarter last year. On average, equities analysts anticipate that Oscar Health, Inc. will post 1.12 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Mark T. Bertolini sold 624,244 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $28.48, for a total value of $17,778,469.12. Following the completion of the transaction, the chief executive officer owned 7,751,570 shares of the company’s stock, valued at $220,764,713.60. This represents a 7.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Mario Schlosser sold 880,000 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $29.38, for a total value of $25,854,400.00. Following the sale, the director directly owned 480,866 shares in the company, valued at approximately $14,127,843.08. This trade represents a 64.66% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 3,662,466 shares of company stock worth $105,145,815 in the last ninety days. Insiders own 22.64% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of OSCR. Vanguard Group Inc. grew its stake in Oscar Health by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 20,701,250 shares of the company’s stock valued at $297,477,000 after acquiring an additional 540,851 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in Oscar Health by 11.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 9,217,816 shares of the company’s stock worth $132,461,000 after purchasing an additional 910,320 shares during the last quarter. Morgan Stanley grew its holdings in shares of Oscar Health by 42.8% in the fourth quarter. Morgan Stanley now owns 6,814,046 shares of the company’s stock valued at $97,918,000 after acquiring an additional 2,043,758 shares in the last quarter. Thrive Capital Management LLC increased its position 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 purchasing an additional 1,588,395 shares during the last quarter. Finally, BIT Capital GmbH raised its position in Oscar Health by 545.0% in the fourth quarter. BIT Capital GmbH now owns 6,186,267 shares of the company’s stock worth $88,897,000 after acquiring an additional 5,227,152 shares during the period. 75.70% of the stock is owned by institutional investors.

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.