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

Shares of Oscar Health, Inc. (NYSE:OSCR) gapped up prior to trading 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 trading hands.

Specifically, Director Thrive Partners Vii Growth Gp, purchased 420,819 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were acquired at an average cost of $13.68 per share, with a total value of $5,756,803.92. Following the completion of the acquisition, the director now directly owns 5,452,081 shares in the company, valued at $74,584,468.08. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Vice Chairman Joshua Kushner bought 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, for a total transaction of $4,927,425.06. Following the purchase, the insider now directly owns 5,810,700 shares in the company, valued at $79,839,018. This trade represents a 0.00 % 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 company’s stock in a transaction on Monday, November 11th. The stock was acquired at an average cost of $13.58 per share, for a total transaction of $3,748,623.20. Following the purchase, the insider now directly owns 5,031,262 shares of the company’s stock, valued at $68,324,537.96. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on OSCR shares. Piper Sandler reissued an “overweight” rating and issued a $28.00 target price on shares of Oscar Health in a report on Tuesday, September 10th. Bank of America cut shares of Oscar Health from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $21.00 to $13.50 in a research note on Wednesday, November 6th. Finally, UBS Group began coverage on Oscar Health in a research note on Monday, October 7th. They set a “neutral” rating and a $23.00 price target for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.93.

Oscar Health Stock Performance

The firm has a market cap of $3.65 billion, a PE 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 simple moving average of $18.28 and a two-hundred day simple moving average of $18.30. The company has a quick ratio of 0.91, a current ratio of 0.73 and a debt-to-equity ratio of 0.26.

Oscar Health (NYSE:OSCR) last issued its earnings results on Thursday, November 7th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.02). The company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.33 billion. Oscar Health had a return on equity of 2.79% and a net margin of 0.35%. The business’s revenue was up 68.3% compared to the same quarter last year. During the same period last year, the business posted ($0.29) earnings per share. As a group, equities research analysts forecast that Oscar Health, Inc. will post -0.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Oscar Health

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Oscar Health by 2.4% in the first quarter. Vanguard Group Inc. now owns 14,582,762 shares of the company’s stock valued at $216,846,000 after purchasing an additional 337,850 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Oscar Health by 153.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,978,152 shares of the company’s stock valued at $59,156,000 after acquiring an additional 2,409,160 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Oscar Health by 31.7% in the second quarter. Renaissance Technologies LLC now owns 3,886,100 shares of the company’s stock valued at $61,478,000 after acquiring an additional 934,600 shares in the last quarter. First Light Asset Management LLC increased its holdings in shares of Oscar Health by 117.3% during the first quarter. First Light Asset Management LLC now owns 2,102,554 shares of the company’s stock valued at $31,265,000 after acquiring an additional 1,134,919 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Oscar Health by 32.9% during the second quarter. Assenagon Asset Management S.A. now owns 2,046,046 shares of the company’s stock valued at $32,368,000 after buying an additional 507,009 shares during 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.