Oscar Health (NYSE:OSCR) Trading Down 4% on Disappointing Earnings

Shares of Oscar Health, Inc. (NYSE:OSCR - Get Free Report) traded down 4% on Tuesday following a weaker than expected earnings announcement. The stock traded as low as $16.06 and last traded at $16.08. 2,336,407 shares changed hands during trading, a decline of 22% from the average session volume of 2,994,851 shares. The stock had previously closed at $16.75.

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%.

Analyst Upgrades and Downgrades

OSCR has been the subject of several recent analyst reports. Jefferies Financial Group assumed coverage on shares of Oscar Health in a report on Tuesday, December 10th. They issued an "underperform" rating and a $12.00 target price for the company. Bank of America lowered shares of Oscar Health from a "neutral" rating to an "underperform" rating and reduced their price target 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 assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $21.56.

Insider Buying and Selling

In related news, COO Steven Wolin sold 19,580 shares of Oscar Health 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 $354,006.40. Following the sale, the chief operating officer now owns 102,598 shares of the company's stock, valued at approximately $1,854,971.84. This trade represents a 16.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Joshua Kushner bought 276,040 shares of the company's stock in a transaction that occurred on Monday, November 11th. The shares were bought at an average price of $13.58 per share, with a total value of $3,748,623.20. Following the transaction, the insider now owns 5,031,262 shares of the company's stock, valued at $68,324,537.96. The trade was a 5.80 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 1,055,478 shares of company stock valued at $14,432,852 and have sold 103,610 shares valued at $1,847,519. 25.11% of the stock is owned by insiders.

Institutional Trading of Oscar Health

Hedge funds have recently bought and sold shares of the stock. KBC Group NV raised its stake in Oscar Health by 56.1% during the fourth quarter. KBC Group NV now owns 7,107 shares of the company's stock valued at $96,000 after purchasing an additional 2,555 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of Oscar Health during the 4th quarter valued at about $100,000. Alberta Investment Management Corp bought a new position in shares of Oscar Health in the 4th quarter valued at about $138,000. Optimum Investment Advisors purchased a new position in Oscar Health in the third quarter worth about $142,000. Finally, SMART Wealth LLC bought a new stake in Oscar Health during the fourth quarter worth approximately $180,000. Hedge funds and other institutional investors own 75.70% of the company's stock.

Oscar Health Stock Down 0.4 %

The company has a market capitalization of $3.64 billion, a P/E ratio of -735.38, a PEG ratio of 0.50 and a beta of 1.73. The company has a 50 day simple moving average of $15.09 and a two-hundred day simple moving average of $16.83. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.26.

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.