Health care providers such as Oscar Health that are leveraging the Affordable Care Act are getting a boost as the ACA Marketplace grows.
Oscar Health has rebounded to form a consolidation with a buy point of 18.55, according to IBD MarketSurge. Shares have risen 74% year-to-date vs. the S&P 500's gains of 5%.
The stock has been outperforming other stocks in the IBD database and that has earned it a perfect Relative Strength Rating of 99. Oscar Health is today's selection for IBD 50 Growth Stocks To Watch.
First-quarter sales rose 44% to $1.43 billion. But the company continued to turn in losses, including a loss of 66 cents per share for the first quarter.
Its medical loss ratio, or the ratio of premiums to medical claims, was a healthy 81.6%.
Oscar Health sells insurance and health plans to individuals and small groups and provides a technology platform for members across 20 states for designing and implementing health care.
Oscar Health Gets Obamacare Bounce
The company stands to benefit from the growing ACA Marketplace under the Affordable Care Act, also known as Obamacare. As of January 2023, nearly 16 million had enrolled during the open enrollment period.
Oscar Health stock's Composite Rating is 79 while its EPS Rating lags at 51. But mutual funds own 60% of shares outstanding. Institutional demand in recent weeks has also given the stock an Accumulation/Distribution Rating of B.
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