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

Shares of Oscar Health, Inc. (NYSE:OSCR) gapped down before the market opened on Tuesday . The stock had previously closed at $15.53, but opened at $14.94. Oscar Health shares last traded at $13.50, with a volume of 1,635,366 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on OSCR. Jefferies Financial Group began coverage on shares of Oscar Health in a research report on Tuesday, December 10th. They issued an “underperform” rating and a $12.00 price objective on the stock. Wells Fargo & Company lowered shares of Oscar Health from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $20.00 to $16.00 in a report on Thursday. Two analysts have rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $20.19.

Oscar Health Stock Down 3.3 %

The company has a debt-to-equity ratio of 0.26, a current ratio of 0.73 and a quick ratio of 0.73. The business’s fifty day moving average price is $15.25 and its two-hundred day moving average price is $16.45. The stock has a market capitalization of $3.55 billion, a PE ratio of -707.90 and a beta of 1.75.

Oscar Health (NYSE:OSCR) last issued its quarterly earnings results on Tuesday, February 4th. The company reported ($0.62) EPS 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, equities research analysts forecast that Oscar Health, Inc. will post 0.69 EPS for the current fiscal year.

Hedge Funds Weigh In On Oscar Health

Several hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp lifted its stake in Oscar Health by 6.0% during the 3rd quarter. State Street Corp now owns 5,132,802 shares of the company’s stock valued at $108,867,000 after acquiring an additional 291,335 shares during the period. Lingotto Investment Management LLP acquired a new position in Oscar Health during the fourth quarter valued at $2,543,000. GDS Wealth Management lifted its position in Oscar Health by 1,545.3% during the fourth quarter. GDS Wealth Management now owns 345,817 shares of the company’s stock valued at $4,648,000 after purchasing an additional 324,798 shares during the period. Nordea Investment Management AB purchased a new stake in Oscar Health in the fourth quarter valued at $1,056,000. Finally, Versor Investments LP acquired a new stake in Oscar Health during the 3rd quarter worth about $787,000. Institutional investors and hedge funds 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.