Oscar Health (NYSE:OSCR) Sets New 52-Week High – Here’s Why

Oscar Health, Inc. (NYSE:OSCR – Get Free Report) reached a new 52-week high on Tuesday. The stock traded as high as $34.80 and last traded at $34.5370, with a volume of 44,091 shares. The stock had previously closed at $34.01.

Key Stories Impacting Oscar Health

Here are the key news stories impacting Oscar Health this week:

Analyst Ratings Changes

Several brokerages have issued reports on OSCR. The Goldman Sachs Group reissued a “neutral” rating and set a $34.00 target price on shares of Oscar Health in a research note on Thursday, September 17th. Zacks Research raised Oscar Health from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. Weiss Ratings raised Oscar Health from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Bank of America lifted their price target on Oscar Health from $28.00 to $30.00 and gave the company an “underperform” rating in a report on Thursday, September 17th. Finally, Raymond James Financial lifted their price target on Oscar Health from $34.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, September 18th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $34.90.

Check Out Our Latest Report on OSCR

Oscar Health Stock Performance

The firm’s fifty day moving average price is $31.26 and its 200 day moving average price is $26.41. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $10.56 billion, a PE ratio of 24.45, a PEG ratio of 0.37 and a beta of 2.47.

Oscar Health (NYSE:OSCR – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $1.10 earnings per share 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 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 business posted ($0.89) earnings per share. Oscar Health’s revenue for the quarter was up 70.4% compared to the same quarter last year. On average, research analysts anticipate that Oscar Health, Inc. will post 1.83 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Mario Schlosser sold 600,000 shares of Oscar Health stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $30.34, for a total transaction of $18,204,000.00. Following the completion of the sale, the director directly owned 480,866 shares in the company, valued at $14,589,474.44. The trade was a 55.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Richard Blackley sold 28,869 shares of Oscar Health stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $31.45, for a total value of $907,930.05. Following the sale, the chief financial officer owned 1,046,108 shares of the company’s stock, valued at approximately $32,900,096.60. This represents a 2.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Over the last 90 days, insiders sold 874,451 shares of company stock worth $26,761,671. Insiders own 22.64% of the company’s stock.

Hedge Funds Weigh In On Oscar Health

A number of hedge funds have recently added to or reduced their stakes in OSCR. CoreCap Advisors LLC grew its position in Oscar Health by 526.3% in the second quarter. CoreCap Advisors LLC now owns 1,190 shares of the company’s stock worth $34,000 after acquiring an additional 1,000 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Oscar Health by 32.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,441 shares of the company’s stock worth $41,000 after purchasing an additional 357 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Oscar Health during the 1st quarter worth $49,000. FNY Investment Advisers LLC acquired a new position in shares of Oscar Health during the 2nd quarter worth $57,000. Finally, Allworth Financial LP raised its holdings in shares of Oscar Health by 124.9% during the 2nd quarter. Allworth Financial LP now owns 2,031 shares of the company’s stock valued at $58,000 after purchasing an additional 1,128 shares in the last quarter. Institutional investors and hedge funds own 75.70% of the company’s stock.

About Oscar Health

(Get Free Report)

Oscar Health, Inc is a technology-driven health insurance company that provides health plans and related services to individuals, families and businesses in the United States. The company primarily serves members through plans offered under the Affordable Care Act (ACA), including individual and family coverage purchased through government marketplaces.

Oscar’s offerings include medical insurance plans with access to provider networks, prescription drug coverage and member support services.

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