Oscar Health (NYSE:OSCR) Shares Gap Up – Here’s What Happened

Oscar Health, Inc. (NYSE:OSCR)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $13.46, but opened at $15.12. Oscar Health shares last traded at $15.75, with a volume of 3,565,490 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on OSCR. Bank of America downgraded shares of Oscar Health from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $21.00 to $13.50 in a report on Wednesday, November 6th. Jefferies Financial Group assumed coverage on shares of Oscar Health in a report on Tuesday, December 10th. They issued an “underperform” rating and a $12.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $21.56.

Oscar Health Trading Up 18.1 %

The company has a debt-to-equity ratio of 0.26, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market cap of $3.93 billion, a price-to-earnings ratio of -794.35, a PEG ratio of 0.50 and a beta of 1.73. The business’s 50-day simple moving average is $14.71 and its 200-day simple moving average is $16.70.

Oscar Health (NYSE:OSCR) last announced its earnings results on Tuesday, February 4th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.07). Oscar Health had a return on equity of 2.28% and a net margin of 0.28%. Research analysts predict that Oscar Health, Inc. will post 0.91 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Richard Scott Blackley sold 25,279 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $18.08, for a total value of $457,044.32. Following the completion of the transaction, the chief financial officer now owns 881,841 shares of the company’s stock, valued at $15,943,685.28. The trade was a 2.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mario Schlosser sold 6,516 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $18.08, for a total transaction of $117,809.28. Following the completion of the sale, the insider now owns 81,962 shares of the company’s stock, valued at approximately $1,481,872.96. The trade was a 7.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 103,610 shares of company stock valued at $1,847,519 over the last 90 days. Insiders own 25.11% of the company’s stock.

Institutional Investors Weigh In On Oscar Health

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Oscar Health by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 18,997,973 shares of the company’s stock valued at $255,333,000 after purchasing an additional 586,626 shares during the period. Deerfield Management Company L.P. Series C grew its holdings in Oscar Health by 50.7% in the fourth quarter. Deerfield Management Company L.P. Series C now owns 11,835,000 shares of the company’s stock valued at $159,062,000 after purchasing an additional 3,983,325 shares during the period. JPMorgan Chase & Co. grew its stake in Oscar Health by 348.7% during the fourth quarter. JPMorgan Chase & Co. now owns 10,360,529 shares of the company’s stock worth $139,246,000 after buying an additional 8,051,379 shares during the period. Thrive Capital Management LLC grew its stake in Oscar Health by 33.4% during the fourth quarter. Thrive Capital Management LLC now owns 6,343,617 shares of the company’s stock worth $85,258,000 after buying an additional 1,588,395 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC grew its stake in Oscar Health by 51.4% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 6,335,862 shares of the company’s stock worth $85,154,000 after buying an additional 2,151,256 shares during the period. 75.70% of the stock is currently owned by hedge funds and other institutional investors.

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.