Oscar Health (NYSE:OSCR) Releases Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Oscar Health (NYSE:OSCR - Get Free Report) issued its earnings results on Thursday. The company reported ($0.22) EPS for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.02), Briefing.com reports. The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.33 billion. Oscar Health had a net margin of 0.25% and a return on equity of 1.86%. The business's revenue was up 68.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.29) earnings per share. Oscar Health updated its FY 2024 guidance to EPS.

Oscar Health Stock Down 0.7 %

Oscar Health stock traded down $0.10 during trading hours on Friday, hitting $13.54. The company had a trading volume of 4,328,696 shares, compared to its average volume of 3,769,774. The firm's fifty day moving average is $18.54 and its 200-day moving average is $18.38. The firm has a market capitalization of $3.28 billion, a P/E ratio of -104.15, a price-to-earnings-growth ratio of 30.80 and a beta of 1.67. Oscar Health has a fifty-two week low of $6.61 and a fifty-two week high of $23.79. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.91 and a quick ratio of 0.91.

Insider Transactions at Oscar Health

In other Oscar Health news, EVP Alessandrea C. Quane sold 16,793 shares of the company's stock in a transaction dated Friday, September 6th. The stock was 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 $6,697,875.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Richard Scott Blackley sold 68,978 shares of Oscar Health stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $17.99, for a total value of $1,240,914.22. Following the completion of the sale, the chief financial officer now owns 884,213 shares of the company's stock, valued at approximately $15,906,991.87. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alessandrea C. Quane sold 16,793 shares of the company's stock in a transaction on Friday, September 6th. The stock was sold at an average price of $17.06, for a total transaction of $286,488.58. Following the completion of the sale, the executive vice president now owns 392,607 shares of the company's stock, valued at $6,697,875.42. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 169,569 shares of company stock valued at $3,007,069. 25.11% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

OSCR has been the topic of several recent research reports. Bank of America downgraded 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 research report on Wednesday. Piper Sandler reaffirmed an "overweight" rating and set a $28.00 price target on shares of Oscar Health in a report on Tuesday, September 10th. Finally, UBS Group initiated 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 assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Oscar Health presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.93.

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.