Oscar Health (NYSE:OSCR) Stock Price Down 4.5% - Here's What Happened

Shares of Oscar Health, Inc. (NYSE:OSCR - Get Free Report) were down 4.5% on Monday . The stock traded as low as $13.16 and last traded at $13.46. Approximately 733,851 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 3,486,025 shares. The stock had previously closed at $14.09.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Bank of America downgraded Oscar Health from a "neutral" rating to an "underperform" rating and reduced their price objective for the company from $21.00 to $13.50 in a research note on Wednesday, November 6th. 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 objective for the company. 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 target price on the stock. Finally, Piper Sandler reissued an "overweight" rating and set a $28.00 target price on shares of Oscar Health in a research report on Tuesday, September 10th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Oscar Health currently has a consensus rating of "Hold" and a consensus price target of $21.56.

Oscar Health Trading Down 3.5 %

The company has a market cap of $3.36 billion, a P/E ratio of -226.63 and a beta of 1.63. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.26. The firm's 50-day moving average price is $15.89 and its 200-day moving average price is $17.39.

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 company had revenue of $2.42 billion for the quarter, compared to analysts' expectations of $2.33 billion. Oscar Health had a return on equity of 2.79% and a net margin of 0.35%. The company's revenue was up 68.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.29) EPS. As a group, equities research analysts expect that Oscar Health, Inc. will post -0.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Vice Chairman Joshua Kushner bought 276,040 shares of the firm's stock in a transaction that occurred on Monday, November 11th. The shares were acquired at an average price of $13.58 per share, with a total value of $3,748,623.20. Following the acquisition, the insider now owns 5,031,262 shares of the company's stock, valued at approximately $68,324,537.96. The trade was a 5.80 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Thrive Partners Vii Growth Gp, purchased 420,819 shares of the business's stock in a transaction on Tuesday, November 12th. The stock was purchased at an average cost of $13.68 per share, with a total value of $5,756,803.92. Following the completion of the acquisition, the director now owns 5,452,081 shares in the company, valued at approximately $74,584,468.08. This trade represents a 8.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 1,055,478 shares of company stock worth $14,432,852 and sold 103,610 shares worth $1,847,519. 25.11% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Oscar Health

A number of institutional investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC grew its position in Oscar Health by 7.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 12,028 shares of the company's stock worth $255,000 after acquiring an additional 844 shares in the last quarter. Summit Trail Advisors LLC boosted its holdings in shares of Oscar Health by 5.4% in the 2nd quarter. Summit Trail Advisors LLC now owns 20,820 shares of the company's stock worth $329,000 after purchasing an additional 1,065 shares in the last quarter. KBC Group NV increased its position in shares of Oscar Health by 41.2% during the 3rd quarter. KBC Group NV now owns 4,552 shares of the company's stock valued at $97,000 after purchasing an additional 1,328 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Oscar Health by 3.7% during the 2nd quarter. Arizona State Retirement System now owns 38,059 shares of the company's stock valued at $602,000 after buying an additional 1,351 shares in the last quarter. Finally, Amalgamated Bank raised its holdings in shares of Oscar Health by 27.7% during the 2nd quarter. Amalgamated Bank now owns 6,727 shares of the company's stock valued at $106,000 after buying an additional 1,458 shares in the last quarter. 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.