Oscar Health Inc

Section 1: Company Overview and Fundamentals

1.1 Company Overview:

Oscar Health, Inc. (NYSE: OSCR) is a health insurance company, which has built a full stack technology platform focused on serving its members. It offers individual and family, and small group plans, and +Oscar, its full stack technology platform, to others within the provider and payor space. Its individual market primarily consists of policies purchased by individuals and families through health insurance marketplaces.

Kalkine’s Diversified Opportunities Report covers the Company Overview, Key positives & negatives, Investment summary, Key investment metrics, Top 10 shareholding, Business updates and insights into company recent financial results, Key Risks & Outlook, Price performance and technical summary, Target Price, and Recommendation on the stock.

Stock Performance:

• The stock has corrected by 19.59% in the last three months, similarly a correction of 27.33% in past six months.
• The stock is in its lower band of its 52-week range of USD 23.79 and 52-week low price of USD 11.47. Post the announcement of FY24 results the stock has corrected by almost 22.70%, with the current price near an important support levels of USD 10- USD 11.
• The price is currently trading below both its long-term (200-day) SMA and its short-term (50-day) SMA , with the current RSI of 39.76.

1.2 The Key Positives, Negatives, and Investment summary

1.3 Top 10 shareholders:

The top 10 shareholders together form ~45.79% of the total shareholding, signifying concentrated shareholding. The Vanguard Group, Inc., and BlackRock Institutional Trust Company, N.A., are the biggest shareholders, holding the maximum stake in the company at 8.82% and 6.62%, respectively.

1.4 Key Metrics

Oscar Health, Inc. exhibited robust revenue growth, achieving a four-year CAGR of 81.74%, with revenue rising from USD 462.8 million in 2020 to USD 9,177.56 million in 2024. Despite recording consistent net losses between 2020 and 2023, the company transitioned to profitability in 2024, reporting a net income of USD 26.1 million compared to a net loss of USD 270.6 million in 2023, reflecting significant operational improvements.

Section 2: Business Updates and Corporate Business Highlights

2.1 Recent Updates:

The below picture gives an overview of the recent updates:

2.2 Insights of FY24:

Section 3: Key Risks & Outlook

Section 4: Stock Recommendation Summary:

4.1 Price Performance and Technical Summary:

Stock Performance:

• The stock has corrected by 19.59% in the last three months, similarly a correction of 27.33% in past six months.
• The stock is in its lower band of its 52-week range of USD 23.79 and 52-week low price of USD 11.47. Post the announcement of FY24 results the stock has corrected by almost 22.70%, with the current price near an important support levels of USD 10- USD 11.
• The price is currently trading below both its long-term (200-day) SMA and its short-term (50-day) SMA , with the current RSI of 39.76.

 4.2 Fundamental Valuation

Valuation Methodology: EV/Sales Multiple Based Relative Valuation

Markets are trading in a highly volatile zone currently due to certain macroeconomic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is April 10, 2025. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: The report publishing date is as per the Pacific Time Zone.

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

 Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.

 Stop-loss: It is a level to protect against further losses in case of unfavorable movement in the stock prices.