Oscar Health (NYSE:OSCR) Shares Down 3.6% – Here’s What Happened

Oscar Health, Inc. (NYSE:OSCR)’s share price traded down 3.6% during trading on Friday . The company traded as low as $16.18 and last traded at $16.19. 2,941,235 shares traded hands during trading, a decline of 8% from the average session volume of 3,204,464 shares. The stock had previously closed at $16.80.

Analyst Upgrades and Downgrades

Several research firms have commented on OSCR. UBS Group initiated coverage on Oscar Health in a research report on Monday, October 7th. They issued a “neutral” rating and a $23.00 target price for the company. Piper Sandler restated an “overweight” rating and issued a $28.00 price target on shares of Oscar Health in a research report on Tuesday, September 10th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

Oscar Health Stock Performance

The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.26. The company’s 50-day simple moving average is $19.04 and its 200-day simple moving average is $18.23. The stock has a market capitalization of $3.86 billion, a price-to-earnings ratio of -41.03, a PEG ratio of 36.01 and a beta of 1.62.

Oscar Health (NYSE:OSCR) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.04. Oscar Health had a net margin of 0.25% and a return on equity of 1.86%. The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the prior year, the firm posted ($0.07) EPS. The company’s quarterly revenue was up 44.6% on a year-over-year basis. On average, analysts expect that Oscar Health, Inc. will post 0.01 EPS for the current year.

Insider Activity

In related news, CFO Richard Scott Blackley sold 68,978 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $17.99, for a total transaction of $1,240,914.22. Following the transaction, the chief financial officer now directly owns 884,213 shares of the company’s stock, valued at $15,906,991.87. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Richard Scott Blackley sold 68,978 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $17.99, for a total transaction of $1,240,914.22. Following the transaction, the chief financial officer now directly owns 884,213 shares of the company’s stock, valued at $15,906,991.87. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alessandrea C. Quane sold 16,793 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $17.06, for a total transaction of $286,488.58. Following the transaction, the executive vice president now directly owns 392,607 shares in the company, valued at approximately $6,697,875.42. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 169,569 shares of company stock valued at $3,007,069. 25.11% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Avalon Trust Co purchased a new stake in shares of Oscar Health in the first quarter valued at about $69,000. Point72 Hong Kong Ltd purchased a new stake in shares of Oscar Health in the second quarter valued at about $78,000. Quest Partners LLC purchased a new stake in shares of Oscar Health in the second quarter valued at about $93,000. Amalgamated Bank raised its holdings in shares of Oscar Health by 27.7% in the second quarter. Amalgamated Bank now owns 6,727 shares of the company’s stock valued at $106,000 after purchasing an additional 1,458 shares during the last quarter. Finally, Optimum Investment Advisors purchased a new stake in shares of Oscar Health in the third quarter valued at about $142,000. 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.