Oscar Health (NYSE:OSCR) Shares Gap Up on Insider Buying Activity

Oscar Health, Inc. (NYSE:OSCR)’s stock price gapped up before the market opened on Thursday following insider buying activity. The stock had previously closed at $13.48, but opened at $14.96. Oscar Health shares last traded at $15.07, with a volume of 717,134 shares traded.

Specifically, 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 stock was bought at an average cost of $13.68 per share, with a total value of $5,756,803.92. Following the completion of the transaction, 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 position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Vice Chairman Joshua Kushner purchased 358,619 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were acquired at an average cost of $13.74 per share, with a total value of $4,927,425.06. Following the completion of the transaction, the insider now directly owns 5,810,700 shares of the company’s stock, valued at $79,839,018. The trade was a 6.58 % increase in their position. The disclosure for this purchase can be found here. In other Oscar Health news, Vice Chairman Joshua Kushner purchased 276,040 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was bought at an average cost of $13.58 per share, with a total value of $3,748,623.20. Following the completion of the transaction, the insider now 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 position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.

Analyst Upgrades and Downgrades

OSCR has been the topic of several research reports. Piper Sandler restated an “overweight” rating and issued a $28.00 target price on shares of Oscar Health in a research note on Tuesday, September 10th. UBS Group initiated coverage on Oscar Health in a research note on Monday, October 7th. They issued a “neutral” rating and a $23.00 target price on the stock. Finally, Bank of America lowered 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 research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.93.

Oscar Health Stock Performance

The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.91 and a current ratio of 0.73. The company has a market capitalization of $3.74 billion, a P/E ratio of -251.12, a price-to-earnings-growth ratio of 12.49 and a beta of 1.67. The business has a 50 day moving average of $18.28 and a 200-day moving average of $18.30.

Oscar Health (NYSE:OSCR) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.33 billion. During the same quarter in the previous year, the firm posted ($0.29) earnings per share. The business’s revenue for the quarter was up 68.3% compared to the same quarter last year. On average, sell-side analysts predict that Oscar Health, Inc. will post -0.01 EPS for the current fiscal year.

Institutional Trading of Oscar Health

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Point72 Hong Kong Ltd bought a new stake in shares of Oscar Health during the 2nd quarter valued at $78,000. Quest Partners LLC purchased a new position in Oscar Health during the second quarter worth about $93,000. KBC Group NV grew its position 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 buying an additional 1,328 shares in the last quarter. Amalgamated Bank grew its position in Oscar Health by 27.7% during the second quarter. Amalgamated Bank now owns 6,727 shares of the company’s stock worth $106,000 after buying an additional 1,458 shares in the last quarter. Finally, Optimum Investment Advisors purchased a new position in Oscar Health during the third quarter worth about $142,000. 75.70% of the stock is currently owned by institutional investors.

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.