Oscar Health (NYSE:OSCR) Shares Gap Up - Here's Why

Oscar Health, Inc. (NYSE:OSCR - Get Free Report) gapped up before the market opened 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.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on OSCR shares. Bank of America downgraded Oscar Health from a "neutral" rating to an "underperform" rating and cut their price target for the stock from $21.00 to $13.50 in a report on Wednesday, November 6th. Jefferies Financial Group started coverage on Oscar Health in a report on Tuesday, December 10th. They issued an "underperform" rating and a $12.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $21.56.

Oscar Health Stock Up 0.5 %

The business has a 50 day moving average of $14.75 and a 200-day moving average of $16.69. The stock has a market cap of $3.97 billion, a PE ratio of -802.95 and a beta of 1.73. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.26.

Oscar Health (NYSE:OSCR - Get Free Report) last released its quarterly 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 return on equity of 2.28% and a net margin of 0.28%. Equities research analysts predict that Oscar Health, Inc. will post 0.69 EPS for the current fiscal year.

Insider Buying and Selling

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 stock was sold at an average price of $18.08, for a total transaction of $117,809.28. Following the completion of the sale, the insider now directly owns 81,962 shares of the company's stock, valued at approximately $1,481,872.96. This trade represents a 7.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ranmali Bopitiya sold 19,157 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $18.08, for a total value of $346,358.56. Following the sale, the executive vice president now directly owns 241,488 shares of the company's stock, valued at $4,366,103.04. The trade was a 7.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 78,610 shares of company stock worth $1,421,269 in the last quarter. 25.11% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. State Street Corp increased its position in shares of Oscar Health by 6.0% in the third quarter. State Street Corp now owns 5,132,802 shares of the company's stock valued at $108,867,000 after buying an additional 291,335 shares in the last quarter. GDS Wealth Management increased its position in Oscar Health by 1,545.3% during the 4th quarter. GDS Wealth Management now owns 345,817 shares of the company's stock worth $4,648,000 after purchasing an additional 324,798 shares in the last quarter. Nordea Investment Management AB purchased a new stake in Oscar Health during the 4th quarter worth about $1,056,000. Versor Investments LP purchased a new stake in Oscar Health during the 3rd quarter worth about $787,000. Finally, Janney Montgomery Scott LLC purchased a new stake in Oscar Health during the 3rd quarter worth about $988,000. Hedge funds and other institutional investors own 75.70% of the company's stock.

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.

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