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

Oscar Health (NYSE:OSCR) announced its quarterly earnings data on Thursday. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.33 billion. During the same period last year, the firm earned ($0.29) earnings per share. Oscar Health’s quarterly revenue was up 68.3% compared to the same quarter last year. Oscar Health updated its FY 2024 guidance to EPS.

Oscar Health Stock Down 0.7 %

Shares of OSCR opened at $13.54 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.26. The firm has a market cap of $3.28 billion, a P/E ratio of -104.15, a PEG ratio of 30.80 and a beta of 1.67. The stock’s 50 day moving average is $18.54 and its two-hundred day moving average is $18.38. Oscar Health has a 12 month low of $6.61 and a 12 month high of $23.79.

Insider Activity at Oscar Health

In related news, CAO Victoria Baltrus sold 4,226 shares of the company’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 $76,025.74. Following the completion of the transaction, the chief accounting officer now owns 140,648 shares in the company, valued at $2,530,257.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Alessandrea C. Quane sold 16,793 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $17.06, for a total transaction of $286,488.58. Following the completion of the sale, the executive vice president now owns 392,607 shares of the company’s stock, valued at $6,697,875.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Victoria Baltrus sold 4,226 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $17.99, for a total transaction of $76,025.74. Following the transaction, the chief accounting officer now owns 140,648 shares in the company, valued at $2,530,257.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 169,569 shares of company stock valued at $3,007,069. 25.11% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on OSCR. UBS Group initiated coverage on Oscar Health in a research note on Monday, October 7th. They issued a “neutral” rating and a $23.00 price objective for the company. Bank of America cut shares of Oscar Health from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $21.00 to $13.50 in a research note on Wednesday. Finally, Piper Sandler reiterated an “overweight” rating and issued a $28.00 price objective on shares of Oscar Health in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Oscar Health currently 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.