Oscar Health (NYSE:OSCR) Shares Down 5% – Here’s Why

Shares of Oscar Health, Inc. (NYSE:OSCR) dropped 5% on Friday . The stock traded as low as $15.34 and last traded at $15.58. Approximately 1,639,203 shares were traded during trading, a decline of 52% from the average daily volume of 3,426,729 shares. The stock had previously closed at $16.40.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on OSCR. 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. Bank of America cut 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 research report on Wednesday, November 6th. Finally, UBS Group started coverage on Oscar Health in a research report on Monday, October 7th. They set a “neutral” rating and a $23.00 target price on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Oscar Health currently has a consensus rating of “Moderate Buy” and an average price target of $22.93.

Oscar Health Trading Down 4.7 %

The company has a 50 day simple moving average of $17.00 and a 200 day simple moving average of $17.92. 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 stock has a market capitalization of $3.86 billion, a PE ratio of -253.67 and a beta of 1.63.

Oscar Health (NYSE:OSCR) last posted its quarterly earnings data 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 firm had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.33 billion. Oscar Health had a net margin of 0.35% and a return on equity of 2.79%. The business’s quarterly revenue was up 68.3% on a year-over-year basis. During the same quarter last year, the business earned ($0.29) earnings per share. Analysts predict that Oscar Health, Inc. will post -0.01 earnings per share for the current fiscal year.

Insider Activity at Oscar Health

In other news, insider Mario Schlosser sold 6,516 shares of Oscar Health stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $18.08, for a total transaction of $117,809.28. Following the completion of the sale, the insider now directly owns 81,962 shares in the company, valued at approximately $1,481,872.96. This trade represents a 7.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Steven Wolin sold 19,580 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $18.08, for a total value of $354,006.40. Following the completion of the sale, the chief operating officer now owns 102,598 shares in the company, valued at approximately $1,854,971.84. This represents a 16.03 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 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 insiders.

Institutional Trading of Oscar Health

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd purchased a new stake in shares of Oscar Health in the second quarter valued at $78,000. Quest Partners LLC purchased a new position in shares of Oscar Health during the 2nd quarter worth about $93,000. KBC Group NV boosted its position in shares of Oscar Health by 41.2% in 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 last quarter. Amalgamated Bank grew 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 purchasing an additional 1,458 shares during the period. Finally, Optimum Investment Advisors acquired a new position in Oscar Health during the third quarter worth approximately $142,000. 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.