Oscar Health (NYSE:OSCR) Stock Price Down 4.2% – Here’s What Happened

Oscar Health, Inc. (NYSE:OSCR)’s share price traded down 4.2% on Tuesday . The stock traded as low as $30.75 and last traded at $30.4610. 1,744,681 shares changed hands during trading, a decline of 76% from the average session volume of 7,194,959 shares. The stock had previously closed at $31.81.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on OSCR. Wells Fargo & Company boosted their price target on Oscar Health from $20.00 to $27.00 and gave the company an “equal weight” rating in a report on Thursday, August 13th. Wall Street Zen upgraded Oscar Health from a “buy” rating to a “strong-buy” rating in a report on Sunday, June 14th. Zacks Research raised Oscar Health from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $30.00 target price on shares of Oscar Health in a report on Tuesday, August 11th. Finally, Barclays increased their price target on Oscar Health from $35.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $26.22.

Oscar Health Trading Down 1.1%

The stock has a market capitalization of $9.54 billion, a P/E ratio of 22.15, a P/E/G ratio of 0.64 and a beta of 2.36. The stock’s 50 day moving average price is $30.19 and its 200-day moving average price is $21.87. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Oscar Health (NYSE:OSCR) last issued its quarterly earnings data on Thursday, August 6th. The company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.70. Oscar Health had a net margin of 3.60% and a return on equity of 38.45%. The company had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $4.73 billion. During the same quarter in the previous year, the firm posted ($0.89) earnings per share. Oscar Health’s revenue for the quarter was up 70.4% compared to the same quarter last year. As a group, equities research analysts expect that Oscar Health, Inc. will post 1.54 earnings per share for the current year.

Insider Activity at Oscar Health

In related news, CFO Richard Scott Blackley sold 18,750 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $31.74, for a total transaction of $595,125.00. Following the sale, the chief financial officer owned 56,250 shares of the company’s stock, valued at $1,785,375. This trade represents a 25.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mario Schlosser sold 147,500 shares of Oscar Health stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $29.38, for a total value of $4,333,550.00. Following the completion of the transaction, the director owned 1,360,866 shares in the company, valued at $39,982,243.08. This trade represents a 9.78% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 3,581,216 shares of company stock valued at $103,424,940 over the last 90 days. Company insiders own 22.64% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. California State Teachers Retirement System raised its stake in Oscar Health by 3,214.2% in the second quarter. California State Teachers Retirement System now owns 7,803,043 shares of the company’s stock valued at $222,543,000 after buying an additional 7,567,600 shares during the last quarter. BIT Capital GmbH boosted its holdings 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 in the last quarter. Morgan Stanley grew its stake in shares of Oscar Health by 42.8% during the fourth quarter. Morgan Stanley now owns 6,814,046 shares of the company’s stock worth $97,918,000 after acquiring an additional 2,043,758 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Oscar Health by 205.1% during the first quarter. Bank of America Corp DE now owns 2,860,310 shares of the company’s stock worth $32,808,000 after acquiring an additional 1,922,732 shares during the last quarter. Finally, Thrive Capital Management LLC increased its holdings in shares of Oscar Health by 33.4% during the fourth quarter. Thrive Capital Management LLC now owns 6,343,617 shares of the company’s stock valued at $85,258,000 after acquiring an additional 1,588,395 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.