Oscar Health (NYSE:OSCR) Shares Gap Up – Time to Buy?

Shares of Oscar Health, Inc. (NYSE:OSCR) gapped up before the market opened on Monday . The stock had previously closed at $15.98, but opened at $16.85. Oscar Health shares last traded at $16.06, with a volume of 372,316 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. UBS Group initiated coverage on shares of Oscar Health in a research note on Monday, October 7th. They issued a “neutral” rating and a $23.00 price objective for the company. Bank of America downgraded Oscar Health from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $21.00 to $13.50 in a research note on Wednesday, November 6th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $28.00 target price on shares of Oscar Health in a research note on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.93.

Oscar Health Stock Performance

The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $4.03 billion, a price-to-earnings ratio of -271.29 and a beta of 1.67. The firm has a 50-day simple moving average of $17.68 and a two-hundred day simple moving average of $18.11.

Oscar Health (NYSE:OSCR) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.02). The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.33 billion. Oscar Health had a net margin of 0.35% and a return on equity of 2.79%. The firm’s revenue was up 68.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.29) earnings per share. As a group, sell-side analysts forecast that Oscar Health, Inc. will post -0.01 earnings per share for the current fiscal year.

Insider Transactions at Oscar Health

In related news, Director Thrive Partners Vii Growth Gp, acquired 420,819 shares of the stock in a transaction dated Tuesday, November 12th. The shares were acquired at an average price of $13.68 per share, for a total transaction of $5,756,803.92. Following the completion of the purchase, the director now owns 5,452,081 shares in the company, valued at approximately $74,584,468.08. The trade was a 8.36 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mario Schlosser sold 3,198 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $17.99, for a total transaction of $57,532.02. Following the transaction, the insider now owns 76,982 shares in the company, valued at approximately $1,384,906.18. The trade was a 3.99 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders bought 1,055,478 shares of company stock worth $14,432,852 and sold 194,569 shares worth $3,433,319. 25.11% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Oscar Health

Large investors have recently added to or reduced their stakes in the company. Sei Investments Co. lifted its holdings in shares of Oscar Health by 100.0% during the first quarter. Sei Investments Co. now owns 42,998 shares of the company’s stock valued at $639,000 after acquiring an additional 21,497 shares during the period. Vanguard Group Inc. raised its stake in shares of Oscar Health by 2.4% during the first quarter. Vanguard Group Inc. now owns 14,582,762 shares of the company’s stock worth $216,846,000 after buying an additional 337,850 shares during the last quarter. American International Group Inc. boosted its stake in Oscar Health by 1.3% in the first quarter. American International Group Inc. now owns 79,411 shares of the company’s stock valued at $1,181,000 after acquiring an additional 1,009 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Oscar Health by 153.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,978,152 shares of the company’s stock worth $59,156,000 after acquiring an additional 2,409,160 shares during the period. Finally, Beck Bode LLC bought a new stake in shares of Oscar Health during the 1st quarter valued at $9,856,000. Institutional investors and hedge funds own 75.70% of the company’s stock.

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.