Oscar Health (NYSE:OSCR) Reaches New 1-Year High – Here’s What Happened

Oscar Health, Inc. (NYSE:OSCR)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $29.81 and last traded at $29.20, with a volume of 710935 shares changing hands. The stock had previously closed at $29.14.

Analyst Ratings Changes

A number of brokerages have recently issued reports on OSCR. Weiss Ratings raised shares of Oscar Health from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, June 9th. UBS Group lifted their price objective on shares of Oscar Health from $15.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Wolfe Research began coverage on shares of Oscar Health in a research report on Tuesday, May 5th. They issued a “peer perform” rating on the stock. Robert W. Baird lifted their price objective on shares of Oscar Health from $15.00 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen raised shares of Oscar Health from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Three equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Oscar Health currently has an average rating of “Hold” and a consensus price target of $20.78.

Oscar Health Trading Down 1.0%

The company has a 50 day moving average of $21.03 and a two-hundred day moving average of $16.78. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market capitalization of $8.52 billion, a PE ratio of -47.91, a P/E/G ratio of 2.00 and a beta of 2.37.

Oscar Health (NYSE:OSCR) last announced its earnings results on Wednesday, May 6th. The company reported $2.07 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.96. Oscar Health had a negative return on equity of 3.26% and a negative net margin of 0.30%.The firm had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.90 billion. During the same period in the previous year, the business earned $0.92 EPS. The firm’s revenue for the quarter was up 52.6% on a year-over-year basis. Sell-side analysts predict that Oscar Health, Inc. will post 0.47 EPS for the current year.

Insider Buying and Selling at Oscar Health

In other Oscar Health news, CFO Richard Scott Blackley sold 100,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $23.16, for a total value of $2,316,000.00. Following the completion of the transaction, the chief financial officer owned 1,216,660 shares of the company’s stock, valued at approximately $28,177,845.60. This trade represents a 7.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Adam Mcananey sold 9,859 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $21.94, for a total transaction of $216,306.46. Following the completion of the transaction, the insider directly owned 218,096 shares of the company’s stock, valued at approximately $4,785,026.24. This represents a 4.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders have sold a total of 189,660 shares of company stock worth $4,283,140 in the last three months. 24.39% of the stock is owned by company insiders.

Institutional Investors Weigh In On Oscar Health

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Oscar Health by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 20,701,250 shares of the company’s stock valued at $297,477,000 after purchasing an additional 540,851 shares during the last quarter. Geode Capital Management LLC grew its stake in Oscar Health by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 4,798,313 shares of the company’s stock valued at $68,964,000 after purchasing an additional 116,430 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its stake in Oscar Health by 1,097.8% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 237,882 shares of the company’s stock valued at $3,418,000 after purchasing an additional 218,022 shares during the last quarter. BIT Capital GmbH grew its stake in Oscar Health by 545.0% during the 4th quarter. BIT Capital GmbH now owns 6,186,267 shares of the company’s stock valued at $88,897,000 after purchasing an additional 5,227,152 shares during the last quarter. Finally, Farallon Capital Management LLC grew its stake in Oscar Health by 146.5% during the 3rd quarter. Farallon Capital Management LLC now owns 3,639,000 shares of the company’s stock valued at $68,886,000 after purchasing an additional 2,163,000 shares during the last quarter. 75.70% of the stock is owned by hedge funds and other institutional investors.

About Oscar Health

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.