Oscar Health (NYSE:OSCR) Shares Gap Up – Here’s What Happened

Shares of Oscar Health, Inc. (NYSE:OSCR) gapped up prior to trading on Tuesday . The stock had previously closed at $13.46, but opened at $15.12. Oscar Health shares last traded at $15.75, with a volume of 3,565,490 shares trading hands.

Analyst Ratings Changes

OSCR has been the subject of several analyst reports. Jefferies Financial Group initiated coverage on shares of Oscar Health in a research note on Tuesday, December 10th. They issued an “underperform” rating and a $12.00 target price for the company. Bank of America cut shares of Oscar Health from a “neutral” rating to an “underperform” rating and cut their price target for the company from $21.00 to $13.50 in a report on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $21.56.

Oscar Health Stock Up 18.1 %

The company has a market capitalization of $3.93 billion, a price-to-earnings ratio of -794.35, a PEG ratio of 0.50 and a beta of 1.73. The stock’s fifty day simple moving average is $14.71 and its two-hundred day simple moving average is $16.70. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.73 and a quick ratio of 0.73.

Oscar Health (NYSE:OSCR) last issued its earnings results on Tuesday, February 4th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.07). Oscar Health had a return on equity of 2.28% and a net margin of 0.28%. On average, sell-side analysts predict that Oscar Health, Inc. will post 0.91 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Richard Scott Blackley sold 25,279 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $18.08, for a total transaction of $457,044.32. Following the completion of the transaction, the chief financial officer now owns 881,841 shares in the company, valued at approximately $15,943,685.28. This represents a 2.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Elbert O. Jr. Robinson sold 25,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $17.05, for a total transaction of $426,250.00. Following the transaction, the director now owns 89,512 shares of the company’s stock, valued at $1,526,179.60. This represents a 21.83 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 103,610 shares of company stock valued at $1,847,519. Company insiders own 25.11% of the company’s stock.

Hedge Funds Weigh In On Oscar Health

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Oscar Health by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 18,997,973 shares of the company’s stock worth $255,333,000 after acquiring an additional 586,626 shares during the last quarter. Deerfield Management Company L.P. Series C grew its position in shares of 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 worth $159,062,000 after acquiring an additional 3,983,325 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Oscar Health by 348.7% during the fourth quarter. JPMorgan Chase & Co. now owns 10,360,529 shares of the company’s stock worth $139,246,000 after acquiring an additional 8,051,379 shares during the last quarter. Thrive Capital Management LLC grew its position in shares of Oscar Health by 33.4% during the fourth quarter. Thrive Capital Management LLC now owns 6,343,617 shares of the company’s stock worth $85,258,000 after acquiring an additional 1,588,395 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC grew its position in shares of Oscar Health by 51.4% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 6,335,862 shares of the company’s stock worth $85,154,000 after acquiring an additional 2,151,256 shares during the last quarter. Institutional investors own 75.70% of the company’s stock.

Oscar Health Company Profile

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.