Oscar Health (NYSE:OSCR) Trading Down 5.7% - Here's Why

Oscar Health, Inc. (NYSE:OSCR - Get Free Report)'s share price dropped 5.7% during trading on Tuesday . The stock traded as low as $17.03 and last traded at $17.05. Approximately 647,633 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 3,208,691 shares. The stock had previously closed at $18.09.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. UBS Group initiated coverage on Oscar Health in a report on Monday, October 7th. They set a "neutral" rating and a $23.00 target price for 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. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $24.00.

Oscar Health Price Performance

The company has a 50 day moving average of $18.74 and a 200-day moving average of $18.43. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $4.43 billion, a P/E ratio of -141.07, a PEG ratio of 34.96 and a beta of 1.67.

Oscar Health (NYSE:OSCR - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.20 EPS for the quarter, topping analysts' consensus estimates of $0.16 by $0.04. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.13 billion. Oscar Health had a net margin of 0.25% and a return on equity of 1.86%. Oscar Health's revenue was up 44.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.07) EPS. Sell-side analysts predict that Oscar Health, Inc. will post 0.01 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Alessandrea C. Quane sold 16,793 shares of the business's stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $17.06, for a total value of $286,488.58. Following the completion of the sale, the executive vice president now directly owns 392,607 shares in the company, valued at approximately $6,697,875.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CAO Victoria Baltrus sold 4,226 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $17.99, for a total transaction of $76,025.74. Following the transaction, the chief accounting officer now directly owns 140,648 shares in the company, valued at approximately $2,530,257.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alessandrea C. Quane sold 16,793 shares of the firm's stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $17.06, for a total transaction of $286,488.58. Following the completion of the transaction, the executive vice president now directly owns 392,607 shares in the company, valued at approximately $6,697,875.42. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 169,569 shares of company stock valued at $3,007,069 in the last three months. Insiders own 25.11% of the company's stock.

Hedge Funds Weigh In On Oscar Health

A number of large investors have recently added to or reduced their stakes in OSCR. Quantbot Technologies LP boosted its stake in shares of Oscar Health by 435.5% during the 1st quarter. Quantbot Technologies LP now owns 14,495 shares of the company's stock worth $216,000 after acquiring an additional 11,788 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in shares of Oscar Health by 20.8% during the first quarter. Oppenheimer & Co. Inc. now owns 19,450 shares of the company's stock worth $289,000 after purchasing an additional 3,350 shares during the period. Avalon Trust Co bought a new stake in shares of Oscar Health in the 1st quarter valued at about $69,000. Swiss National Bank raised its holdings in Oscar Health by 2.4% during the 1st quarter. Swiss National Bank now owns 263,800 shares of the company's stock worth $3,923,000 after purchasing an additional 6,100 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC lifted its holdings in Oscar Health by 14.9% in the first quarter. Susquehanna Fundamental Investments LLC now owns 51,780 shares of the company's stock valued at $770,000 after buying an additional 6,733 shares during the period. 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.