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

Shares of Oscar Health, Inc. (NYSE:OSCR - Get Free Report) gapped up before the market opened on Thursday after an insider bought additional shares in the company. 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 changing hands.

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. UBS Group assumed coverage on shares of Oscar Health in a research note on Monday, October 7th. They issued a "neutral" rating and a $23.00 price objective for the company. Bank of America lowered shares of Oscar Health from a "neutral" rating to an "underperform" rating and lowered their price objective for the company from $21.00 to $13.50 in a research note on Wednesday, November 6th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $28.00 price objective on shares of Oscar Health in a research note on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Oscar Health 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 quick ratio of 0.91 and a current ratio of 0.73. The stock has a market cap of $3.74 billion, a P/E ratio of -251.12, a price-to-earnings-growth ratio of 12.49 and a beta of 1.67. The company's 50 day moving average price is $18.28 and its 200-day moving average price is $18.30.

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

Hedge Funds Weigh In On Oscar Health

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its holdings in Oscar Health by 153.5% during the first 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 purchased a new stake in Oscar Health during the third quarter valued at about $27,452,000. First Light Asset Management LLC lifted its holdings in Oscar Health by 117.3% during the first 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 lifted its holdings in Oscar Health by 31.7% during the second 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. purchased a new stake in Oscar Health during the second quarter valued at about $14,716,000. 75.70% of the stock is owned by hedge funds and other 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.