Oscar Health (NYSE:OSCR) Reaches New 52-Week High – What’s Next?

Oscar Health, Inc. (NYSE:OSCR)’s stock price reached a new 52-week high during trading on Wednesday. The stock traded as high as $36.16 and last traded at $33.3370, with a volume of 2,392,551 shares changing hands. The stock had previously closed at $32.41.

Analyst Upgrades and Downgrades

OSCR has been the topic of a number of recent research reports. Wells Fargo & Company boosted their price objective on Oscar Health from $20.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 13th. The Goldman Sachs Group reiterated a “neutral” rating and set a $34.00 target price on shares of Oscar Health in a report on Thursday, September 17th. UBS Group boosted their price target on Oscar Health from $26.00 to $36.00 and gave the stock a “neutral” rating in a research report on Monday, October 12th. Weiss Ratings upgraded Oscar Health from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Finally, Bank of America increased their price objective on shares of Oscar Health from $28.00 to $30.00 and gave the company an “underperform” rating in a research report on Thursday, September 17th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Oscar Health has an average rating of “Hold” and a consensus target price of $34.90.

Oscar Health Price Performance

The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.09 and a current ratio of 1.09. The business’s fifty day simple moving average is $31.68 and its 200 day simple moving average is $23.72. The stock has a market cap of $10.95 billion, a price-to-earnings ratio of 25.22, a price-to-earnings-growth ratio of 0.34 and a beta of 2.56.

Oscar Health (NYSE:OSCR) last announced its earnings results on Thursday, August 6th. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.70. Oscar Health had a return on equity of 38.45% and a net margin of 3.60%. The company had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $4.73 billion. During the same period last year, the firm earned ($0.89) earnings per share. The company’s revenue was up 70.4% on a year-over-year basis. Research analysts predict that Oscar Health, Inc. will post 1.83 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Janet Liang sold 10,360 shares of the stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $31.45, for a total value of $325,822.00. Following the completion of the transaction, the insider owned 248,697 shares of the company’s stock, valued at approximately $7,821,520.65. This represents a 4.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 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. Also, CFO Richard Blackley sold 28,869 shares of the firm’s stock in a transaction that occurred on 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 trade represents a 2.69% decrease in their position. The SEC filing for this sale provides additional information. 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. In the last 90 days, insiders have sold 874,451 shares of company stock valued at $26,761,671. Insiders own 22.64% of the company’s stock.

Hedge Funds Weigh In On Oscar Health

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE grew its position in shares of Oscar Health by 205.1% during the first quarter. Bank of America Corp DE now owns 2,860,310 shares of the company’s stock worth $32,808,000 after buying an additional 1,922,732 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Oscar Health by 107.5% in the third quarter. Assenagon Asset Management S.A. now owns 2,589,708 shares of the company’s stock valued at $79,867,000 after acquiring an additional 1,341,716 shares in the last quarter. Wedge Capital Management L L P NC acquired a new stake in Oscar Health in the second quarter valued at $32,855,000. Dimensional Fund Advisors LP raised its holdings in Oscar Health by 22.1% in the first quarter. Dimensional Fund Advisors LP now owns 4,192,777 shares of the company’s stock valued at $48,078,000 after acquiring an additional 759,837 shares in the last quarter. Finally, Halter Ferguson Financial Inc. boosted its stake in Oscar Health by 93.3% during the 3rd quarter. Halter Ferguson Financial Inc. now owns 1,211,825 shares of the company’s stock valued at $37,373,000 after acquiring an additional 584,818 shares during the last quarter. 75.70% of the stock is currently owned by hedge funds and other institutional investors.

Oscar Health Company Profile

Oscar Health, Inc is a technology-focused health insurance company that provides health plans and related services in the United States. The company primarily serves individuals and families purchasing coverage through the Affordable Care Act’s health insurance marketplace, as well as small businesses and their employees.

Oscar combines health insurance products with digital tools designed to help members manage their care. Its services include online enrollment, virtual care, provider search and appointment support, care navigation, claims and benefits information, and member engagement through web and mobile applications.