Oscar Health (NYSE:OSCR) Shares Gap Up – What’s Next?

Oscar Health, Inc. (NYSE:OSCR)’s share price gapped up before the market opened on Monday . The stock had previously closed at $14.35, but opened at $15.24. Oscar Health shares last traded at $14.97, with a volume of 345,813 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on OSCR shares. UBS Group began coverage on shares of Oscar Health in a research report on Monday, October 7th. They issued a “neutral” rating and a $23.00 target price for the company. Jefferies Financial Group initiated coverage on Oscar Health in a research report on Tuesday, December 10th. They set an “underperform” rating and a $12.00 price objective on the stock. Piper Sandler reissued an “overweight” rating and issued a $28.00 target price on shares of Oscar Health in a research report on Tuesday, September 10th. Finally, Bank of America lowered Oscar Health from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $21.00 to $13.50 in a research report on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Oscar Health presently has an average rating of “Hold” and a consensus price target of $21.56.

Oscar Health Trading Up 6.3 %

The stock has a 50-day moving average of $15.24 and a two-hundred day moving average of $16.94. The company has a market cap of $3.78 billion, a P/E ratio of -254.96 and a beta of 1.70. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.73 and a current ratio of 0.73.

Oscar Health (NYSE:OSCR) last issued its earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.02). Oscar Health had a return on equity of 2.79% and a net margin of 0.35%. The firm had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.33 billion. During the same period last year, the firm posted ($0.29) earnings per share. The firm’s quarterly revenue was up 68.3% on a year-over-year basis. On average, equities research analysts predict that Oscar Health, Inc. will post -0.01 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Richard Scott Blackley sold 25,279 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $18.08, for a total transaction of $457,044.32. Following the completion of the sale, the chief financial officer now owns 881,841 shares in the company, valued at approximately $15,943,685.28. This represents a 2.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Victoria Baltrus sold 8,078 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $18.08, for a total value of $146,050.24. Following the completion of the transaction, the chief accounting officer now directly owns 146,036 shares in the company, valued at approximately $2,640,330.88. This represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders acquired 1,055,478 shares of company stock valued at $14,432,852 and sold 103,610 shares valued at $1,847,519. Corporate insiders own 25.11% of the company’s stock.

Institutional Investors Weigh In On Oscar Health

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Nordea Investment Management AB bought a new stake in Oscar Health during the fourth quarter valued at approximately $1,056,000. JPMorgan Chase & Co. boosted its stake in shares of Oscar Health by 68.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,309,150 shares of the company’s stock worth $48,977,000 after acquiring an additional 938,742 shares during the last quarter. Neo Ivy Capital Management bought a new stake in shares of Oscar Health during the 3rd quarter valued at $600,000. Geode Capital Management LLC increased its stake in shares of Oscar Health by 11.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,339,640 shares of the company’s stock worth $92,062,000 after purchasing an additional 455,205 shares in the last quarter. Finally, Barclays PLC raised its holdings in Oscar Health by 217.5% in the 3rd quarter. Barclays PLC now owns 325,818 shares of the company’s stock worth $6,911,000 after purchasing an additional 223,189 shares during the period. Hedge funds and other institutional investors own 75.70% of the company’s stock.

Oscar Health Company Profile

Oscar Health, Inc operates as a health insurance in the United States. The company offers health plans in individual and small group markets, as well as +Oscar, a technology driven platform that help providers and payors directly enable their shift to value-based care. It also provides reinsurance products.