Oscar Health (NYSE:OSCR) Shares Down 4.2% – Here’s Why

Oscar Health, Inc. (NYSE:OSCR) traded down 4.2% during mid-day trading on Wednesday . The company traded as low as $17.20 and last traded at $17.25. 972,617 shares were traded during trading, a decline of 71% from the average session volume of 3,392,665 shares. The stock had previously closed at $18.01.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. UBS Group began coverage on shares of Oscar Health in a report on Monday, October 7th. They issued a “neutral” rating and a $23.00 price target on the stock. Piper Sandler restated an “overweight” rating and issued a $28.00 price target on shares of Oscar Health in a research note on Tuesday, September 10th. Finally, Bank of America cut Oscar Health from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $21.00 to $13.50 in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $22.93.

Oscar Health Price Performance

The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $4.03 billion, a price-to-earnings ratio of -271.79 and a beta of 1.67. The business’s 50 day simple moving average is $18.01 and its 200-day simple moving average is $18.23.

Oscar Health (NYSE:OSCR) last posted its quarterly 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 for the quarter, compared to analyst estimates of $2.33 billion. During the same quarter in the prior year, the business posted ($0.29) EPS. The business’s revenue was up 68.3% on a year-over-year basis. On average, research analysts forecast that Oscar Health, Inc. will post -0.01 earnings per share for the current year.

Insider Activity at Oscar Health

In other Oscar Health news, Director Thrive Partners Vii Growth Gp, acquired 420,819 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was acquired at an average price of $13.68 per share, for a total transaction of $5,756,803.92. Following the acquisition, the director now directly owns 5,452,081 shares in the company, valued at $74,584,468.08. This represents a 8.36 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Victoria Baltrus sold 4,226 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $17.99, for a total transaction of $76,025.74. Following the sale, the chief accounting officer now directly owns 140,648 shares in the company, valued at $2,530,257.52. The trade was a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 1,055,478 shares of company stock valued at $14,432,852 and have sold 169,569 shares valued at $3,007,069. 25.11% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC raised its position in shares of Oscar Health by 7.5% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 12,028 shares of the company’s stock worth $255,000 after acquiring an additional 844 shares during the last quarter. American International Group Inc. raised its holdings in Oscar Health by 1.3% during the 1st quarter. American International Group Inc. now owns 79,411 shares of the company’s stock worth $1,181,000 after purchasing an additional 1,009 shares during the last quarter. Summit Trail Advisors LLC lifted its position in shares of Oscar Health by 5.4% in the 2nd quarter. Summit Trail Advisors LLC now owns 20,820 shares of the company’s stock worth $329,000 after purchasing an additional 1,065 shares during the period. KBC Group NV boosted its stake in shares of Oscar Health by 41.2% in the 3rd quarter. KBC Group NV now owns 4,552 shares of the company’s stock valued at $97,000 after purchasing an additional 1,328 shares during the last quarter. Finally, Arizona State Retirement System increased its position in shares of Oscar Health by 3.7% during the second quarter. Arizona State Retirement System now owns 38,059 shares of the company’s stock worth $602,000 after buying an additional 1,351 shares during the period. 75.70% of the stock is owned by institutional investors.

About Oscar Health

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.