Oscar Health (NYSE:OSCR) Stock Price Down 5.2% - Here's What Happened

Oscar Health, Inc. (NYSE:OSCR - Get Free Report)'s stock price fell 5.2% during mid-day trading on Friday . The stock traded as low as $16.03 and last traded at $16.31. 458,559 shares were traded during trading, a decline of 86% from the average session volume of 3,191,652 shares. The stock had previously closed at $17.20.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Piper Sandler reissued an "overweight" rating and issued a $28.00 price target on shares of Oscar Health in a report on Tuesday, September 10th. UBS Group started coverage on shares of Oscar Health in a research report on Monday, October 7th. They issued a "neutral" rating and a $23.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $24.00.

Oscar Health Price Performance

The stock has a market cap of $3.92 billion, a price-to-earnings ratio of -125.37, a price-to-earnings-growth ratio of 31.76 and a beta of 1.62. The stock's 50 day moving average price is $18.86 and its two-hundred day moving average price is $18.31. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.26.

Oscar Health (NYSE:OSCR - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.04. Oscar Health had a return on equity of 1.86% and a net margin of 0.25%. The business had revenue of $2.20 billion during the quarter, compared to analysts' expectations of $2.13 billion. During the same quarter in the previous year, the firm posted ($0.07) EPS. The company's revenue for the quarter was up 44.6% on a year-over-year basis. Equities research analysts forecast that Oscar Health, Inc. will post 0.01 EPS for the current fiscal year.

Insider Activity

In other news, CFO Richard Scott Blackley sold 29,957 shares of the business's stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $17.06, for a total value of $511,066.42. Following the completion of the sale, the chief financial officer now directly owns 853,875 shares in the company, valued at $14,567,107.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Alessandrea C. Quane sold 16,793 shares of the firm's stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $17.06, for a total value of $286,488.58. Following the transaction, the executive vice president now directly owns 392,607 shares of the company's stock, valued at approximately $6,697,875.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Richard Scott Blackley sold 29,957 shares of the business's stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $17.06, for a total value of $511,066.42. Following the sale, the chief financial officer now owns 853,875 shares of the company's stock, valued at approximately $14,567,107.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 169,569 shares of company stock worth $3,007,069 in the last ninety days. Company insiders own 25.11% of the company's stock.

Hedge Funds Weigh In On Oscar Health

Hedge funds and other institutional investors have recently made changes to their positions in the company. Avalon Trust Co acquired a new position in Oscar Health in the 1st quarter valued at $69,000. Point72 Hong Kong Ltd purchased a new position in shares of Oscar Health in the second quarter worth about $78,000. Quest Partners LLC acquired a new position in Oscar Health during the second quarter worth about $93,000. Optimum Investment Advisors purchased a new stake in Oscar Health during the 3rd quarter valued at about $142,000. Finally, Amalgamated Bank raised its holdings in Oscar Health by 27.7% in the 2nd quarter. Amalgamated Bank now owns 6,727 shares of the company's stock valued at $106,000 after acquiring an additional 1,458 shares during the last quarter. Hedge funds and other institutional investors own 75.70% of the company's stock.

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.