Oscar Health (NYSE:OSCR) Trading Down 5% - Here's What Happened

Oscar Health, Inc. (NYSE:OSCR - Get Free Report)'s share price dropped 5% during mid-day trading on Friday . The stock traded as low as $15.34 and last traded at $15.58. Approximately 1,639,203 shares were traded during trading, a decline of 52% from the average daily volume of 3,426,729 shares. The stock had previously closed at $16.40.

Wall Street Analysts Forecast Growth

OSCR has been the topic of several research reports. UBS Group initiated coverage on shares of Oscar Health in a report on Monday, October 7th. They set a "neutral" rating and a $23.00 price target on the stock. 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, Bank of America lowered shares of Oscar Health from a "neutral" rating to an "underperform" rating and decreased their price target for the company from $21.00 to $13.50 in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $22.93.

Oscar Health Stock Performance

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's 50-day moving average price is $16.90 and its two-hundred day moving average price is $17.87. The company has a market capitalization of $3.86 billion, a price-to-earnings ratio of -259.96 and a beta of 1.63.

Oscar Health (NYSE:OSCR - Get Free Report) last posted its quarterly earnings data 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). Oscar Health had a return on equity of 2.79% and a net margin of 0.35%. The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same quarter last year, the company earned ($0.29) earnings per share. The company's quarterly revenue was up 68.3% compared to the same quarter last year. On average, equities research analysts anticipate that Oscar Health, Inc. will post -0.01 EPS for the current fiscal year.

Insider Transactions at Oscar Health

In related news, Director Thrive Partners Vii Growth Gp, bought 420,819 shares of the business's stock in a transaction that occurred on Tuesday, November 12th. The shares were acquired at an average cost of $13.68 per share, with a total value of $5,756,803.92. Following the completion of the purchase, the director now directly owns 5,452,081 shares in the company, valued at $74,584,468.08. The trade was a 8.36 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Mario Schlosser sold 6,516 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $18.08, for a total transaction of $117,809.28. Following the transaction, the insider now directly owns 81,962 shares in the company, valued at approximately $1,481,872.96. This represents a 7.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders bought 1,055,478 shares of company stock worth $14,432,852 and sold 103,610 shares worth $1,847,519. 25.11% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of OSCR. Simplicity Wealth LLC bought a new position in shares of Oscar Health in the second quarter valued at $179,000. SG Americas Securities LLC lifted its stake in shares of Oscar Health by 900.6% in the second quarter. SG Americas Securities LLC now owns 190,039 shares of the company's stock valued at $3,006,000 after buying an additional 171,047 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Oscar Health by 32.9% in the second quarter. Assenagon Asset Management S.A. now owns 2,046,046 shares of the company's stock valued at $32,368,000 after buying an additional 507,009 shares in the last quarter. Raymond James & Associates bought a new position in shares of Oscar Health in the second quarter valued at $3,168,000. Finally, Hennessy Advisors Inc. bought a new position in shares of Oscar Health in the second quarter valued at $9,047,000. 75.70% of the stock is owned by 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.