Oscar Health (NYSE:OSCR) Shares Gap Up – Should You Buy?

Shares of Oscar Health, Inc. (NYSE:OSCR) gapped up before the market opened on Monday . The stock had previously closed at $15.98, but opened at $16.85. Oscar Health shares last traded at $16.06, with a volume of 372,316 shares.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Piper Sandler reiterated an “overweight” rating and set a $28.00 target price on shares of Oscar Health in a research report on Tuesday, September 10th. Bank of America downgraded shares of Oscar Health from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $21.00 to $13.50 in a report on Wednesday, November 6th. Finally, UBS Group assumed coverage on Oscar Health in a research note on Monday, October 7th. They issued a “neutral” rating and a $23.00 price target on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $22.93.

Oscar Health Stock Up 5.6 %

The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.26. The business’s fifty day moving average price is $17.90 and its 200 day moving average price is $18.18.

Oscar Health (NYSE:OSCR) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.02). The business 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 for the quarter was up 68.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.29) EPS. On average, research analysts predict that Oscar Health, Inc. will post -0.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Alessandrea C. Quane sold 16,793 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $17.06, for a total transaction 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 $6,697,875.42. This represents a 4.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Elbert O. Jr. Robinson sold 25,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $17.05, for a total value of $426,250.00. Following the sale, the director now directly owns 89,512 shares of the company’s stock, valued at approximately $1,526,179.60. This trade represents a 21.83 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 1,055,478 shares of company stock valued at $14,432,852 and have sold 194,569 shares valued at $3,433,319. 25.11% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of OSCR. Neo Ivy Capital Management acquired a new stake in Oscar Health in the 3rd quarter valued at $600,000. Geode Capital Management LLC raised its holdings in shares of Oscar Health by 11.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,339,640 shares of the company’s stock valued at $92,062,000 after buying an additional 455,205 shares during the period. Barclays PLC lifted its position in Oscar Health by 217.5% during the 3rd quarter. Barclays PLC now owns 325,818 shares of the company’s stock worth $6,911,000 after acquiring an additional 223,189 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Oscar Health in the 3rd quarter worth approximately $2,764,000. Finally, Soros Fund Management LLC acquired a new stake in Oscar Health in the third quarter valued at approximately $12,726,000. Hedge funds and other institutional investors own 75.70% of the company’s stock.

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.