Why Oscar Health Inc (NYSE: OSCR) Stock Should Not Be Discarded By Investors In 2024

In the last trading session, 3.94 million shares of the Oscar Health Inc (NYSE:OSCR) were traded, and its beta was 1.78. Most recently the company’s share price was $14.87, and it changed around $0.66 or 4.64% from the last close, which brings the market valuation of the company to $3.42B. OSCR currently trades at a discount to its 52-week high of $18.55, offering almost -24.75% off that amount. The share price’s 52-week low was $4.72, which indicates that the current value has risen by an impressive 68.26% since then. We note from Oscar Health Inc’s average daily trading volume that its 10-day average is 2.33 million shares, with the 3-month average coming to 3.35 million.

Oscar Health Inc stock received a consensus recommendation rating of Hold, based on a mean score of 2.00. If we narrow it down even further, the data shows that 0 out of 5 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 3 recommended OSCR as a Hold, whereas 1 deemed it a Buy, and 0 rated it as Underweight. Oscar Health Inc is expected to report earnings per share of $0.27 for the current quarter.

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Oscar Health Inc (NYSE:OSCR) trade information

Instantly OSCR has showed a green trend with a performance of 4.64% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently up 62.51% year-to-date, but still up 8.07% over the last five days. On the other hand, Oscar Health Inc (NYSE:OSCR) is -6.95% down in the 30-day period. We can see from the shorts that 6.31 million shares have been sold at a short interest cover period of 1.87 day(s).

The consensus price target as assigned by Wall Street analysts is $9.67, which translates to bulls needing to decrease their stock price by -53.77% from its current value. Analyst projections state that OSCR is forecast to be at a low of $4 and a high of $20.

Oscar Health Inc (OSCR) estimates and forecasts

Oscar Health Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 172.34 percent over the past six months and at a 81.15% annual growth rate that is well above the industry average of 14.10%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 250.00% in revenue this quarter, and will report an increase of 357.10% in the next quarter. The year-over-year growth rate is expected to be 42.20%, up from the previous year.

Consensus estimates provided by 3 financial analysts predict the company will bring in an average of $2.01 billion in revenue for the current quarter. 3 analysts expect Oscar Health Inc to make $2.1 billion in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $1.15 billion and $1.52 billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 75.50%. Forecasts for the next quarter put sales growth at 37.80%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -2.85%.

OSCR Dividends

Oscar Health Inc’s next quarterly earnings report is expected to be released around May 07 and May 13.

Oscar Health Inc (NYSE:OSCR)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 1.32% of Oscar Health Inc shares, and 80.22% of them are in the hands of institutional investors. The stock currently has a share float of 81.30%. Oscar Health Inc stock is held by 260 institutions, with Blackrock Inc. being the largest institutional investor. By Dec 30, 2023, it held 7.39% of the shares, which is about 14.35 million shares worth $213.41 million.

Vanguard Group Inc, with 7.33% or 14.24 million shares worth $211.82 million as of Dec 30, 2023, holds the second largest percentage of outstanding shares.

Longleaf Partners Small-Cap Fund and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Dec 30, 2023. The former held 5.71 million shares worth $84.93 million, making up 2.94% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 4.69 million shares worth around $69.67 million, which represents about 2.41% of the total shares outstanding.