Oscar Health (NYSE:OSCR) Trading 11.8% Higher After Insider Buying Activity

Shares of Oscar Health, Inc. (NYSE:OSCR) traded up 11.8% on Wednesday after an insider bought additional shares in the company. The stock traded as high as $14.98 and last traded at $14.5060. 5,596,901 shares were traded during trading, a decline of 29% from the average session volume of 7,915,168 shares. The stock had previously closed at $12.97.

Specifically, CEO Mark T. Bertolini bought 1,000,000 shares of the company’s stock in a transaction dated Monday, April 6th. The shares were purchased at an average price of $11.92 per share, for a total transaction of $11,920,000.00. Following the acquisition, the chief executive officer owned 10,196,876 shares in the company, valued at approximately $121,546,761.92. This represents a 10.87% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Oscar Health in a report on Thursday, January 22nd. Wall Street Zen upgraded shares of Oscar Health from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Barclays set a $18.00 price target on shares of Oscar Health and gave the stock an “equal weight” rating in a research note on Monday, January 5th. Raymond James Financial upgraded shares of Oscar Health from a “market perform” rating to an “outperform” rating and set a $18.00 price target on the stock in a research note on Thursday, February 12th. Finally, Stephens initiated coverage on shares of Oscar Health in a research note on Thursday, December 11th. They issued an “equal weight” rating and a $17.00 price target on the stock. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $16.88.

Oscar Health Trading Up 9.7%

The stock’s 50 day moving average is $13.12 and its 200-day moving average is $15.73. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.44. The company has a market cap of $4.24 billion, a P/E ratio of -8.23 and a beta of 1.93.

Oscar Health (NYSE:OSCR) last issued its earnings results on Tuesday, February 10th. The company reported ($1.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.32). Oscar Health had a negative return on equity of 39.35% and a negative net margin of 3.79%.The business had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same period last year, the firm posted ($0.62) EPS. Oscar Health’s quarterly revenue was up 17.3% compared to the same quarter last year. Research analysts anticipate that Oscar Health, Inc. will post 0.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Oscar Health

A number of hedge funds have recently bought and sold shares of OSCR. Farther Finance Advisors LLC raised its position in Oscar Health by 4,420.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,311 shares of the company’s stock worth $25,000 after buying an additional 1,282 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Oscar Health by 7,473.3% in the 1st quarter. Jones Financial Companies Lllp now owns 2,272 shares of the company’s stock worth $30,000 after buying an additional 2,242 shares during the last quarter. Strs Ohio purchased a new position in shares of Oscar Health in the 1st quarter worth $30,000. Fifth Third Bancorp boosted its stake in shares of Oscar Health by 148.7% in the 4th quarter. Fifth Third Bancorp now owns 2,363 shares of the company’s stock worth $34,000 after buying an additional 1,413 shares during the last quarter. Finally, Quarry LP boosted its stake in shares of Oscar Health by 439.8% in the 3rd quarter. Quarry LP now owns 1,803 shares of the company’s stock worth $34,000 after buying an additional 1,469 shares during the last quarter. Hedge funds and other 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.