Oscar Health (NYSE:OSCR) Shares Up 11.8% After Insider Buying Activity

Oscar Health, Inc. (NYSE:OSCRGet Free Report) shot up 11.8% during trading on Wednesday after an insider bought additional shares in the company. The company traded as high as $14.98 and last traded at $14.5060. 5,596,901 shares changed hands during mid-day trading, a decline of 29% from the average session volume of 7,915,168 shares. The stock had previously closed at $12.97.

Specifically, CEO Mark T. Bertolini bought 1,000,000 shares of the business’s stock in a transaction on Monday, April 6th. The stock was bought at an average price of $11.92 per share, for a total transaction of $11,920,000.00. Following the transaction, the chief executive officer directly owned 10,196,876 shares in the company, valued at $121,546,761.92. This represents a 10.87% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on OSCR. Raymond James Financial upgraded shares of Oscar Health from a “market perform” rating to an “outperform” rating and set a $18.00 target price for the company in a research report on Thursday, February 12th. Barclays set a $18.00 price target on shares of Oscar Health and gave the company an “equal weight” rating in a report on Monday, January 5th. UBS Group restated a “neutral” rating and set a $15.00 price target on shares of Oscar Health in a report on Wednesday, February 11th. Stephens assumed coverage on shares of Oscar Health in a report on Thursday, December 11th. They set an “equal weight” rating and a $17.00 price target on the stock. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Oscar Health in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $16.88.

Get Our Latest Research Report on OSCR

Key Headlines Impacting Oscar Health

Here are the key news stories impacting Oscar Health this week:

Oscar Health Stock Up 12.8%

The firm has a market cap of $4.36 billion, a P/E ratio of -8.41 and a beta of 1.93. The business’s fifty day moving average price is $13.12 and its two-hundred day moving average price is $15.73. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.44.

Oscar Health (NYSE:OSCRGet Free Report) last released its quarterly earnings results on Tuesday, February 10th. The company reported ($1.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.32). Oscar Health had a negative net margin of 3.79% and a negative return on equity of 39.35%. The business had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter in the prior year, the business posted ($0.62) EPS. The firm’s revenue for the quarter was up 17.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Oscar Health, Inc. will post 0.69 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of OSCR. Farther Finance Advisors LLC grew its stake in Oscar Health by 4,420.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,311 shares of the company’s stock valued at $25,000 after buying an additional 1,282 shares during the last quarter. Jones Financial Companies Lllp grew its stake in Oscar Health by 7,473.3% in the 1st quarter. Jones Financial Companies Lllp now owns 2,272 shares of the company’s stock valued at $30,000 after buying an additional 2,242 shares during the last quarter. Strs Ohio acquired a new position in Oscar Health in the 1st quarter valued at $30,000. Fifth Third Bancorp grew its stake in Oscar Health by 148.7% in the 4th quarter. Fifth Third Bancorp now owns 2,363 shares of the company’s stock valued at $34,000 after buying an additional 1,413 shares during the last quarter. Finally, Quarry LP grew its stake in Oscar Health by 439.8% in the 3rd quarter. Quarry LP now owns 1,803 shares of the company’s stock valued at $34,000 after buying an additional 1,469 shares during the last quarter. 75.70% of the stock is currently owned by institutional investors and hedge funds.

Oscar Health Company Profile

(Get Free Report)

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.

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