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

Oscar Health, Inc. (NYSE:OSCR - Get Free Report)'s share price gapped up prior to trading on Tuesday . The stock had previously closed at $13.46, but opened at $15.12. Oscar Health shares last traded at $15.75, with a volume of 3,565,490 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on OSCR shares. Jefferies Financial Group began coverage on shares of Oscar Health in a report on Tuesday, December 10th. They set an "underperform" rating and a $12.00 price target for the company. Bank of America cut Oscar Health from a "neutral" rating to an "underperform" rating and cut their target price for the stock from $21.00 to $13.50 in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Oscar Health presently has an average rating of "Hold" and a consensus target price of $21.56.

Oscar Health Stock Down 7.8 %

The business's 50 day moving average price is $14.82 and its 200-day moving average price is $16.68. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.73 and a current ratio of 0.73. The firm has a market capitalization of $3.66 billion, a PE ratio of -740.33 and a beta of 1.73.

Oscar Health (NYSE:OSCR - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.55) by ($0.07). Oscar Health had a net margin of 0.28% and a return on equity of 2.28%. As a group, equities research analysts forecast that Oscar Health, Inc. will post 0.69 earnings per share for the current year.

Insider Activity at Oscar Health

In other Oscar Health news, insider Mario Schlosser sold 6,516 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $18.08, for a total transaction of $117,809.28. Following the sale, the insider now directly owns 81,962 shares in the company, valued at $1,481,872.96. This represents a 7.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Richard Scott Blackley sold 25,279 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 transaction of $457,044.32. Following the completion of the transaction, the chief financial officer now directly owns 881,841 shares of the company's stock, valued at $15,943,685.28. This represents a 2.79 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 78,610 shares of company stock worth $1,421,269. 25.11% of the stock is currently owned by company insiders.

Institutional Trading of Oscar Health

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Oscar Health by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 18,997,973 shares of the company's stock worth $255,333,000 after purchasing an additional 586,626 shares during the period. Deerfield Management Company L.P. Series C grew its position in shares of Oscar Health by 50.7% during the fourth quarter. Deerfield Management Company L.P. Series C now owns 11,835,000 shares of the company's stock worth $159,062,000 after buying an additional 3,983,325 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Oscar Health by 348.7% during the fourth quarter. JPMorgan Chase & Co. now owns 10,360,529 shares of the company's stock worth $139,246,000 after buying an additional 8,051,379 shares during the period. Thrive Capital Management LLC raised its holdings in Oscar Health by 33.4% in the fourth quarter. Thrive Capital Management LLC now owns 6,343,617 shares of the company's stock valued at $85,258,000 after acquiring an additional 1,588,395 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC lifted its stake in Oscar Health by 51.4% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 6,335,862 shares of the company's stock worth $85,154,000 after acquiring an additional 2,151,256 shares during the last quarter. 75.70% of the stock is currently owned by institutional investors and hedge funds.

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.