On June 11, Oscar Health fell 6.03% in after-hours trading, trading at approximately $26.33/share, with trading volume of $8.09 million. The pullback comes after a sharp rally driven by consecutive investment bank upgrades earlier in June.
On the news front, the after-hours decline appears linked to short-term profit-taking following a significant cumulative gain since early June. Barclays upgraded Oscar Health from Equal Weight to Overweight on June 10 with a target price raised from $30 to $35, while Wells Fargo had upgraded the stock from Underperform to Equal Weight on June 4, lifting its target from $11 to $20. The stock surged from around $21.59 to nearly $28.75 within one week on these catalysts and strong Q1 results showing revenue of $4.65 billion (up 53% YoY) and EPS of $2.07, far exceeding the $1.10 consensus estimate.
Within the Life & Health Insurance sector, the broader group showed muted performance. Among individual stocks, MetLife up 0.5%, Principal up 0.71%, Aflac down 0.13%, Unum down 0.77%, Prudential down 0.87%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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