Oscar Health (NYSE:OSCR) Trading Up 6.7% - Here's What Happened

Oscar Health, Inc. (NYSE:OSCR - Get Free Report) shot up 6.7% during trading on Thursday . The company traded as high as $14.32 and last traded at $14.30. 1,163,513 shares traded hands during trading, a decline of 67% from the average session volume of 3,475,479 shares. The stock had previously closed at $13.40.

Wall Street Analyst Weigh In

Several research firms have recently commented on OSCR. Bank of America lowered shares of Oscar Health from a "neutral" rating to an "underperform" rating and reduced their price target for the company from $21.00 to $13.50 in a report on Wednesday, November 6th. Jefferies Financial Group initiated coverage on Oscar Health in a report on Tuesday, December 10th. They set an "underperform" rating and a $12.00 target price for the company. Piper Sandler reissued an "overweight" rating and issued a $28.00 price target on shares of Oscar Health in a research report on Tuesday, September 10th. Finally, UBS Group assumed coverage on Oscar Health in a research report on Monday, October 7th. They set a "neutral" rating and a $23.00 price objective on the stock. 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 given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $21.56.

Oscar Health Stock Performance

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 company has a market capitalization of $3.51 billion, a PE ratio of -236.46 and a beta of 1.63. The business has a 50 day simple moving average of $15.59 and a 200 day simple moving average of $17.26.

Oscar Health (NYSE:OSCR - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.02). Oscar Health had a net margin of 0.35% and a return on equity of 2.79%. The company had revenue of $2.42 billion during the quarter, compared to analysts' expectations of $2.33 billion. During the same period in the previous year, the business earned ($0.29) earnings per share. The business's revenue for the quarter was up 68.3% compared to the same quarter last year. Equities research analysts predict that Oscar Health, Inc. will post -0.01 EPS for the current fiscal year.

Insider Transactions at Oscar Health

In other Oscar Health news, Vice Chairman Joshua Kushner acquired 276,040 shares of the business's stock in a transaction dated Monday, November 11th. The shares were purchased at an average price of $13.58 per share, for a total transaction of $3,748,623.20. Following the completion of the purchase, the insider now directly 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thrive Partners Vii Growth Gp, bought 420,819 shares of Oscar Health stock in a transaction that occurred on Tuesday, November 12th. The shares were acquired at an average cost of $13.68 per share, with a total value of $5,756,803.92. Following the acquisition, the director now owns 5,452,081 shares of the company's stock, valued at $74,584,468.08. The trade was a 8.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 1,055,478 shares of company stock worth $14,432,852 and sold 103,610 shares worth $1,847,519. Insiders own 25.11% of the company's stock.

Hedge Funds Weigh In On Oscar Health

A number of institutional investors have recently modified their holdings of the stock. KBC Group NV grew its holdings in Oscar Health by 41.2% during the third quarter. KBC Group NV now owns 4,552 shares of the company's stock worth $97,000 after acquiring an additional 1,328 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Oscar Health during the 2nd quarter worth approximately $78,000. Quest Partners LLC purchased a new position in shares of Oscar Health during the 2nd quarter valued at approximately $93,000. Optimum Investment Advisors acquired a new position in shares of Oscar Health in the 3rd quarter valued at $142,000. Finally, Amalgamated Bank increased its holdings in Oscar Health by 27.7% in the second 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. 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.