Oscar Health (NYSE:OSCR) Trading 16.5% Higher – Here’s What Happened

Oscar Health, Inc. (NYSE:OSCR)’s stock price shot up 16.5% during trading on Friday . The company traded as high as $21.95 and last traded at $21.87. 20,445,021 shares were traded during mid-day trading, an increase of 194% from the average session volume of 6,948,218 shares. The stock had previously closed at $18.77.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Piper Sandler lowered their price target on Oscar Health from $25.00 to $18.00 and set an “overweight” rating on the stock in a report on Monday, June 9th. Wall Street Zen downgraded Oscar Health from a “buy” rating to a “hold” rating in a report on Sunday, June 8th. Finally, Wells Fargo & Company cut Oscar Health from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $20.00 to $16.00 in a research report on Thursday, March 13th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $16.50.

Oscar Health Trading Up 13.3%

The stock has a 50 day moving average of $14.59 and a 200-day moving average of $14.49. The company has a market capitalization of $5.42 billion, a P/E ratio of 75.98 and a beta of 1.73. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.22.

Oscar Health (NYSE:OSCR) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.83 by $0.09. Oscar Health had a return on equity of 10.59% and a net margin of 1.22%. The business had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.87 billion. During the same period in the previous year, the business earned $0.62 earnings per share. The business’s revenue was up 42.2% on a year-over-year basis. On average, research analysts predict that Oscar Health, Inc. will post 0.69 EPS for the current year.

Insider Activity

In other Oscar Health news, Director Elbert O. Jr. Robinson sold 25,000 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $16.43, for a total transaction of $410,750.00. Following the completion of the transaction, the director now owns 64,512 shares of the company’s stock, valued at $1,059,932.16. This represents a 27.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 24.39% of the company’s stock.

Institutional Trading of Oscar Health

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Oscar Health by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 19,698,442 shares of the company’s stock valued at $258,247,000 after acquiring an additional 700,469 shares during the last quarter. Deerfield Management Company L.P. Series C raised its stake in Oscar Health by 50.7% during the fourth quarter. Deerfield Management Company L.P. Series C now owns 11,835,000 shares of the company’s stock valued at $159,062,000 after purchasing an additional 3,983,325 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its stake in Oscar Health by 4.1% during the first quarter. T. Rowe Price Investment Management Inc. now owns 11,826,245 shares of the company’s stock valued at $155,043,000 after purchasing an additional 467,301 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Oscar Health by 348.7% during the fourth quarter. JPMorgan Chase & Co. now owns 10,360,529 shares of the company’s stock valued at $139,246,000 after purchasing an additional 8,051,379 shares during the last quarter. Finally, Thrive Capital Management LLC grew its stake in shares of Oscar Health by 33.4% in the 4th quarter. Thrive Capital Management LLC now owns 6,343,617 shares of the company’s stock worth $85,258,000 after buying an additional 1,588,395 shares in the last quarter. 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.