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

Shares of Oscar Health, Inc. (NYSE:OSCR) gapped down prior to trading on Friday . The stock had previously closed at $12.51, but opened at $11.89. Oscar Health shares last traded at $12.1570, with a volume of 1,592,820 shares trading hands.

Analysts Set New Price Targets

OSCR has been the subject of several recent analyst reports. Wells Fargo & Company dropped their price objective on Oscar Health from $14.00 to $11.00 and set an “underweight” rating for the company in a research note on Thursday, November 13th. Zacks Research upgraded shares of Oscar Health from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. UBS Group raised shares of Oscar Health from a “sell” rating to a “neutral” rating and lifted their price target for the company from $12.00 to $17.00 in a report on Friday, January 9th. The Goldman Sachs Group assumed coverage on shares of Oscar Health in a research report on Tuesday, October 14th. They issued a “neutral” rating and a $17.00 price target on the stock. Finally, Wall Street Zen lowered shares of Oscar Health from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $17.00.

Oscar Health Trading Down 2.2%

The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.67. The stock has a market cap of $3.24 billion, a P/E ratio of -10.93 and a beta of 1.90. The business’s fifty day simple moving average is $15.60 and its 200 day simple moving average is $16.76.

Oscar Health (NYSE:OSCR) last announced its earnings results on Thursday, November 6th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.02. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $3.09 billion. Oscar Health had a negative net margin of 2.16% and a negative return on equity of 21.50%. Oscar Health’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.22) earnings per share. As a group, analysts expect that Oscar Health, Inc. will post 0.69 EPS for the current year.

Insider Transactions at Oscar Health

In other Oscar Health news, insider Janet Liang sold 7,338 shares of the stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $16.59, for a total value of $121,737.42. Following the transaction, the insider directly owned 172,527 shares in the company, valued at approximately $2,862,222.93. This trade represents a 4.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Adam Mcananey sold 1,852 shares of Oscar Health stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $16.59, for a total value of $30,724.68. Following the completion of the sale, the insider directly owned 179,241 shares of the company’s stock, valued at $2,973,608.19. This trade represents a 1.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 483,307 shares of company stock worth $7,635,300 in the last quarter. 24.39% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Fortis Group Advisors LLC grew its position in shares of Oscar Health by 82.9% during the 4th quarter. Fortis Group Advisors LLC now owns 189,857 shares of the company’s stock worth $2,724,000 after buying an additional 86,035 shares during the period. Handelsbanken Fonder AB boosted its stake in Oscar Health by 5.2% in the fourth quarter. Handelsbanken Fonder AB now owns 40,400 shares of the company’s stock valued at $581,000 after acquiring an additional 2,000 shares during the last quarter. Csenge Advisory Group bought a new position in Oscar Health in the fourth quarter valued at approximately $428,000. ProShare Advisors LLC grew its holdings in Oscar Health by 8.7% during the 4th quarter. ProShare Advisors LLC now owns 36,108 shares of the company’s stock worth $519,000 after acquiring an additional 2,903 shares during the period. Finally, Halter Ferguson Financial Inc. raised its position in shares of Oscar Health by 1.1% during the 4th quarter. Halter Ferguson Financial Inc. now owns 389,397 shares of the company’s stock valued at $5,596,000 after acquiring an additional 4,082 shares during the last quarter. 75.70% of the stock is currently owned by institutional investors and hedge funds.

About Oscar Health

Oscar Health, trading on the New York Stock Exchange under the ticker OSCR, is a technology-driven health insurance company headquartered in New York, New York. Founded in 2012 by Mario Schlosser, Joshua Kushner and Kevin Nazemi, the company was built with the goal of simplifying healthcare coverage and enhancing member experience. Oscar leverages a proprietary digital platform to streamline plan enrollment, claims administration and member support, distinguishing itself in the individual, family and small group insurance markets.

The company’s primary products include on-exchange individual and family medical plans under the Affordable Care Act, off-exchange plans, as well as Medicare Advantage offerings.