Oscar Health (NYSE:OSCR) Shares Gap Up - Time to Buy?

Shares of Oscar Health, Inc. (NYSE:OSCR - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $14.35, but opened at $15.24. Oscar Health shares last traded at $14.97, with a volume of 345,813 shares.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Piper Sandler reaffirmed an "overweight" rating and issued a $28.00 price target on shares of Oscar Health in a report on Tuesday, September 10th. UBS Group assumed coverage on Oscar Health in a research note on Monday, October 7th. They issued a "neutral" rating and a $23.00 target price for the company. Bank of America downgraded shares of Oscar Health from a "neutral" rating to an "underperform" rating and decreased their price target for the stock from $21.00 to $13.50 in a research note on Wednesday, November 6th. Finally, Jefferies Financial Group initiated coverage on shares of Oscar Health in a research note on Tuesday, December 10th. They issued an "underperform" rating and a $12.00 price objective for the company. Two research analysts have rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $21.56.

Oscar Health Stock Up 2.4 %

The firm has a market cap of $3.63 billion, a price-to-earnings ratio of -244.96 and a beta of 1.70. The business's 50-day moving average is $15.28 and its 200-day moving average is $16.99. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.73 and a current ratio of 0.73.

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). The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.33 billion. Oscar Health had a return on equity of 2.79% and a net margin of 0.35%. The business's quarterly revenue was up 68.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.29) EPS. On average, equities analysts predict that Oscar Health, Inc. will post -0.01 EPS for the current year.

Insiders Place Their Bets

In related news, COO Steven Wolin sold 19,580 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $18.08, for a total value of $354,006.40. Following the completion of the sale, the chief operating officer now owns 102,598 shares of the company's stock, valued at $1,854,971.84. This trade represents a 16.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Vice Chairman Joshua Kushner acquired 358,619 shares of the company's stock in a transaction that occurred on Wednesday, November 13th. The stock was bought at an average price of $13.74 per share, with a total value of $4,927,425.06. Following the transaction, the insider now directly owns 5,810,700 shares in the company, valued at $79,839,018. The trade was a 6.58 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 1,055,478 shares of company stock valued at $14,432,852 and have sold 103,610 shares valued at $1,847,519. Insiders own 25.11% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Westfield Capital Management Co. LP acquired a new position in shares of Oscar Health during the third quarter valued at $27,452,000. JPMorgan Chase & Co. raised its holdings in Oscar Health by 68.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,309,150 shares of the company's stock worth $48,977,000 after purchasing an additional 938,742 shares during the last quarter. Renaissance Technologies LLC lifted 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 period. Point72 Asset Management L.P. bought a new position in shares of Oscar Health in the 2nd quarter valued at about $14,716,000. Finally, Soros Fund Management LLC acquired a new stake in shares of Oscar Health during the 3rd quarter worth approximately $12,726,000. 75.70% of the stock is currently owned by 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.