Oscar Health (NYSE:OSCR) Shares Down 4% After Earnings Miss

Oscar Health, Inc. (NYSE:OSCR)’s stock price was down 4% during mid-day trading on Tuesday following a dissappointing earnings announcement. The company traded as low as $16.06 and last traded at $16.08. 2,336,407 shares changed hands during mid-day trading, a decline of 22% from the average daily volume of 2,994,851 shares. The stock had previously closed at $16.75.

The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.07). Oscar Health had a net margin of 0.35% and a return on equity of 2.79%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Oscar Health in a research note on Tuesday, December 10th. They issued an “underperform” rating and a $12.00 price target on the stock. Bank of America cut shares of Oscar Health from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $21.00 to $13.50 in a research note on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $21.56.

Insider Activity

In other Oscar Health news, CAO Victoria Baltrus sold 8,078 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $18.08, for a total value of $146,050.24. Following the completion of the sale, the chief accounting officer now directly owns 146,036 shares of the company’s stock, valued at $2,640,330.88. This trade represents a 5.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Joshua Kushner purchased 276,040 shares of the stock in a transaction dated Monday, November 11th. The shares were purchased at an average cost of $13.58 per share, for a total transaction of $3,748,623.20. Following the transaction, the insider now owns 5,031,262 shares in the company, valued at approximately $68,324,537.96. The trade was a 5.80 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 1,055,478 shares of company stock worth $14,432,852 and sold 103,610 shares worth $1,847,519. Company insiders own 25.11% of the company’s stock.

Hedge Funds Weigh In On Oscar Health

A number of institutional investors have recently bought and sold shares of the company. Lingotto Investment Management LLP acquired a new stake in shares of Oscar Health during the 4th quarter worth approximately $2,543,000. Handelsbanken Fonder AB grew its position in Oscar Health by 148.3% in the fourth quarter. Handelsbanken Fonder AB now owns 29,800 shares of the company’s stock worth $401,000 after acquiring an additional 17,800 shares during the period. Ieq Capital LLC acquired a new stake in Oscar Health during the fourth quarter worth $203,000. Alberta Investment Management Corp purchased a new stake in Oscar Health in the fourth quarter valued at $138,000. Finally, State of New Jersey Common Pension Fund D lifted its stake in shares of Oscar Health by 6.4% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 116,555 shares of the company’s stock valued at $1,566,000 after purchasing an additional 6,965 shares during the last quarter. 75.70% of the stock is owned by hedge funds and other institutional investors.

Oscar Health Stock Down 8.9 %

The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of -254.37, a P/E/G ratio of 0.67 and a beta of 1.73. The business has a 50-day moving average of $15.20 and a 200-day moving average of $16.85. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.73 and a current ratio of 0.73.

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.