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

Oscar Health, Inc. (NYSE:OSCR) shares gapped up before the market opened on Monday . The stock had previously closed at $14.35, but opened at $15.24. Oscar Health shares last traded at $14.97, with a volume of 345,813 shares changing hands.

Wall Street Analyst Weigh In

OSCR has been the topic of several research analyst reports. UBS Group initiated coverage on shares of Oscar Health in a research note on Monday, October 7th. They set a “neutral” rating and a $23.00 price target on the stock. Jefferies Financial Group began coverage on shares of Oscar Health in a report on Tuesday, December 10th. They issued an “underperform” rating and a $12.00 price objective on the stock. Piper Sandler restated an “overweight” rating and issued a $28.00 price objective on shares of Oscar Health in a report on Tuesday, September 10th. Finally, Bank of America lowered shares of Oscar Health from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $21.00 to $13.50 in a report on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $21.56.

Oscar Health Trading Up 3.8 %

The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.26. The business’s fifty day moving average is $15.28 and its 200 day moving average is $16.99. The firm has a market capitalization of $3.68 billion, a price-to-earnings ratio of -248.29 and a beta of 1.70.

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

Insider Buying and Selling

In related news, CAO Victoria Baltrus sold 8,078 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $18.08, for a total value of $146,050.24. Following the completion of the transaction, the chief accounting officer now owns 146,036 shares of the company’s stock, valued at approximately $2,640,330.88. This trade represents a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mario Schlosser sold 6,516 shares of Oscar Health stock in a transaction dated 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 transaction, the insider now directly owns 81,962 shares of the company’s stock, valued at approximately $1,481,872.96. This trade represents a 7.36 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 1,055,478 shares of company stock worth $14,432,852 and have sold 103,610 shares worth $1,847,519. 25.11% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp grew its position in shares of Oscar Health by 6.0% in the 3rd quarter. State Street Corp now owns 5,132,802 shares of the company’s stock valued at $108,867,000 after acquiring an additional 291,335 shares during the period. Geode Capital Management LLC grew its position in shares of Oscar Health by 11.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,339,640 shares of the company’s stock valued at $92,062,000 after acquiring an additional 455,205 shares during the period. Renaissance Technologies LLC grew its position in shares of Oscar Health by 31.7% in the 2nd quarter. Renaissance Technologies LLC now owns 3,886,100 shares of the company’s stock valued at $61,478,000 after acquiring an additional 934,600 shares during the period. JPMorgan Chase & Co. grew its position in shares of Oscar Health by 68.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,309,150 shares of the company’s stock valued at $48,977,000 after acquiring an additional 938,742 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Oscar Health by 20.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,600,166 shares of the company’s stock worth $33,940,000 after buying an additional 270,223 shares during the last quarter. Institutional investors 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.