Oscar Health (NYSE:OSCR) Announces Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Oscar Health (NYSE:OSCR) announced its quarterly earnings results on Thursday. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.02), Briefing.com reports. Oscar Health had a net margin of 0.25% and a return on equity of 1.86%. The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.33 billion. During the same period in the previous year, the business earned ($0.29) earnings per share. The firm’s revenue for the quarter was up 68.3% on a year-over-year basis. Oscar Health updated its FY 2024 guidance to EPS.

Oscar Health Stock Down 0.7 %

Shares of NYSE:OSCR traded down $0.10 during trading on Friday, reaching $13.54. 4,238,641 shares of the stock traded hands, compared to its average volume of 3,318,060. Oscar Health has a 52-week low of $6.61 and a 52-week high of $23.79. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a 50-day moving average of $18.63 and a two-hundred day moving average of $18.39. The stock has a market cap of $3.28 billion, a P/E ratio of -104.15, a price-to-earnings-growth ratio of 35.84 and a beta of 1.67.

Insider Buying and Selling

In related news, CFO Richard Scott Blackley sold 68,978 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $17.99, for a total value of $1,240,914.22. Following the sale, the chief financial officer now owns 884,213 shares in the company, valued at approximately $15,906,991.87. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Ranmali Bopitiya sold 36,175 shares of Oscar Health stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $17.99, for a total transaction of $650,788.25. Following the completion of the transaction, the executive vice president now directly owns 251,885 shares of the company’s stock, valued at approximately $4,531,411.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Richard Scott Blackley sold 68,978 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $17.99, for a total transaction of $1,240,914.22. Following the completion of the sale, the chief financial officer now owns 884,213 shares of the company’s stock, valued at approximately $15,906,991.87. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 169,569 shares of company stock worth $3,007,069. 25.11% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Bank of America lowered 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 research report on Wednesday. UBS Group assumed coverage on shares of Oscar Health in a report on Monday, October 7th. They set a “neutral” rating and a $23.00 target price for the company. Finally, Piper Sandler reiterated an “overweight” rating and set a $28.00 target price on shares of Oscar Health in a report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.93.

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.