Oscar Health (NYSE:OSCR) Shares Gap Up on Insider Buying Activity

Oscar Health, Inc. (NYSE:OSCR) gapped up prior to trading on Thursday following insider buying activity. The stock had previously closed at $13.48, but opened at $14.96. Oscar Health shares last traded at $15.07, with a volume of 717,134 shares.

Specifically, Director Thrive Partners Vii Growth Gp, bought 420,819 shares of Oscar Health stock in a transaction that occurred on Tuesday, November 12th. The stock was acquired at an average cost of $13.68 per share, for a total transaction of $5,756,803.92. Following the completion of the transaction, the director now directly owns 5,452,081 shares in the company, valued at $74,584,468.08. This represents a 8.36 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Vice Chairman Joshua Kushner bought 358,619 shares of Oscar Health stock in a transaction that occurred on Wednesday, November 13th. The shares were acquired at an average price of $13.74 per share, with a total value of $4,927,425.06. Following the completion of the transaction, the insider now owns 5,810,700 shares of the company’s stock, valued at $79,839,018. This represents a 6.58 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In other news, Vice Chairman Joshua Kushner acquired 276,040 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was purchased at an average cost of $13.58 per share, for a total transaction of $3,748,623.20. Following the acquisition, the insider now owns 5,031,262 shares of the company’s stock, valued at $68,324,537.96. This trade represents a 5.80 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Analyst Ratings Changes

A number of research firms have recently issued reports on OSCR. Piper Sandler reiterated an “overweight” rating and issued a $28.00 price objective on shares of Oscar Health in a report on Tuesday, September 10th. Bank of America cut Oscar Health from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $21.00 to $13.50 in a report on Wednesday, November 6th. Finally, UBS Group began coverage on Oscar Health in a report on Monday, October 7th. They issued a “neutral” rating and a $23.00 price objective for the company. One analyst has rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.93.

Oscar Health Price Performance

The company has a market capitalization of $3.74 billion, a PE ratio of -251.12, a PEG ratio of 12.49 and a beta of 1.67. The firm has a fifty day moving average of $18.28 and a two-hundred day moving average of $18.30. The company has a current ratio of 0.73, a quick ratio of 0.91 and a debt-to-equity ratio of 0.26.

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

Institutional Investors Weigh In On Oscar Health

Institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its position 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 valued at $59,156,000 after purchasing an additional 2,409,160 shares during the last quarter. Westfield Capital Management Co. LP bought a new position in Oscar Health during the 3rd quarter valued at approximately $27,452,000. First Light Asset Management LLC raised its position in Oscar Health by 117.3% during the 1st quarter. First Light Asset Management LLC now owns 2,102,554 shares of the company’s stock valued at $31,265,000 after purchasing an additional 1,134,919 shares during the last quarter. Renaissance Technologies LLC raised its position in Oscar Health by 31.7% during the 2nd quarter. Renaissance Technologies LLC now owns 3,886,100 shares of the company’s stock valued at $61,478,000 after purchasing an additional 934,600 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in Oscar Health during the 2nd quarter valued at approximately $14,716,000. 75.70% of the stock is currently owned by hedge funds and other 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.