Oscar Health (NYSE:OSCR) Releases Earnings Results, Misses Estimates By $0.02 EPS

Oscar Health (NYSE:OSCR) announced its quarterly earnings data on Thursday. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.02), Briefing.com reports. Oscar Health had a net margin of 0.25% and a return on equity of 1.86%. The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same quarter last year, the company posted ($0.29) earnings per share. Oscar Health’s revenue for the quarter was up 68.3% compared to the same quarter last year. Oscar Health updated its FY 2024 guidance to EPS.

Oscar Health Trading Down 0.7 %

NYSE:OSCR traded down $0.10 during mid-day trading on Friday, reaching $13.54. 4,238,641 shares of the company’s stock traded hands, compared to its average volume of 3,318,060. Oscar Health has a 12-month low of $6.61 and a 12-month high of $23.79. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.91 and a quick ratio of 0.91. The company has a 50 day moving average price of $18.63 and a 200-day moving average price of $18.39. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of -104.85, a PEG ratio of 35.84 and a beta of 1.67.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on OSCR shares. Bank of America lowered shares of 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 report on Wednesday. UBS Group assumed coverage on shares of Oscar Health in a research report on Monday, October 7th. They set a “neutral” rating and a $23.00 price target for the company. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $28.00 price objective on shares of Oscar Health in a research note on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $22.93.

Insider Transactions at Oscar Health

In related news, insider Mario Schlosser sold 3,198 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $17.99, for a total value of $57,532.02. Following the completion of the sale, the insider now owns 76,982 shares of the company’s stock, valued at $1,384,906.18. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO Richard Scott Blackley sold 68,978 shares of Oscar Health 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 $1,240,914.22. Following the sale, the chief financial officer now directly owns 884,213 shares in the company, valued at $15,906,991.87. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mario Schlosser sold 3,198 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $17.99, for a total value of $57,532.02. Following the transaction, the insider now directly owns 76,982 shares of the company’s stock, valued at $1,384,906.18. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 169,569 shares of company stock worth $3,007,069. 25.11% of the stock is currently owned by insiders.

Oscar Health Company Profile

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.