Oscar Health (NYSE:OSCR) Shares Gap Up – Here’s What Happened

Oscar Health, Inc. (NYSE:OSCR) gapped up before the market opened on Monday . The stock had previously closed at $14.35, but opened at $15.24. Oscar Health shares last traded at $14.97, with a volume of 345,813 shares.

Analyst Ratings Changes

OSCR has been the subject of a number of research reports. Bank of America cut shares of Oscar Health from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $21.00 to $13.50 in a research note on Wednesday, November 6th. UBS Group started coverage on shares of Oscar Health in a research note on Monday, October 7th. They set a “neutral” rating and a $23.00 target price for the company. Jefferies Financial Group started coverage on shares of Oscar Health in a research note on Tuesday, December 10th. They issued an “underperform” rating and a $12.00 price objective for the company. Finally, Piper Sandler reiterated an “overweight” rating and issued a $28.00 price objective on shares of Oscar Health in a research note 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 has an average rating of “Hold” and an average price target of $21.56.

Oscar Health Stock Up 3.8 %

The firm’s 50-day moving average price is $15.28 and its 200 day moving average price is $16.99. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of -248.29 and a beta of 1.70. 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) last issued its earnings results on Thursday, November 7th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.02). The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.33 billion. Oscar Health had a net margin of 0.35% and a return on equity of 2.79%. Oscar Health’s quarterly revenue was up 68.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.29) earnings per share. On average, sell-side analysts forecast that Oscar Health, Inc. will post -0.01 EPS for the current fiscal year.

Insider Activity

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

Institutional Investors Weigh In On Oscar Health

Institutional investors have recently added to or reduced their stakes in the business. KBC Group NV grew its holdings in Oscar Health by 41.2% during the 3rd 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 last quarter. Point72 Hong Kong Ltd bought a new stake in Oscar Health during the 2nd quarter worth approximately $78,000. Quest Partners LLC bought a new stake in Oscar Health during the 2nd quarter worth approximately $93,000. Optimum Investment Advisors bought a new stake in Oscar Health during the 3rd quarter worth approximately $142,000. Finally, Amalgamated Bank grew its holdings in Oscar Health by 27.7% during the 2nd quarter. Amalgamated Bank now owns 6,727 shares of the company’s stock worth $106,000 after acquiring an additional 1,458 shares during the last quarter. 75.70% of the stock is owned by institutional investors.

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.