Oscar Health hits 52-week high on strong 2026 start
Oscar Health, Inc. shares rose to a 52-week high, extending an 80% year-to-date gain, after management reaffirmed 2026 guidance for revenue of $18.7 billion to $19 billion and operating earnings of $250 million to $450 million at the Goldman Sachs conference. CFO Scott Blackley cited favorable utilization trends and a $130 million positive variance in the final 2025 Wakely report. The rally follows a historic Q1 earnings report where the company swung to a $679 million profit, membership grew 56% to 3.17 million, and the medical loss ratio improved to 70.5%.
*this image is generated using AI for illustrative purposes only.
Oscar Health, Inc. shares touched a 52-week high on Wednesday, extending an 80% year-to-date rally, after management reaffirmed full-year 2026 guidance and highlighted favorable operating trends at the Goldman Sachs 47th Annual Global Healthcare Conference. The stock closed at $27.39 on Monday, adding 0.77% in after-hours trading to reach $27.60, and was trading 4.81% higher at $28.53 at the time of publication. Chief Financial Officer Scott Blackley cited favorable utilization trends through May and noted that the final 2025 Wakely report came in $130 million better than the company's first-quarter assumptions.
Strong Start To 2026
Blackley stated that membership trends continue to track as expected and that utilization through May remained modestly favorable to expectations. He attributed the $130 million favorable variance in the final 2025 Wakely report to accruals booked in the first quarter. Management observed "pretty healthy tailwinds" behind the current outlook but is awaiting additional market data before adjusting guidance. Oscar Health reaffirmed the full-year 2026 guidance issued in February, projecting revenue of $18.7 billion to $19 billion and operating earnings of $250 million to $450 million.
Q1 Earnings Foundation
The conference comments followed a historic first-quarter earnings report on May 6. The company swung to a $679 million profit, with membership surging 56% year over year to 3.17 million. The medical loss ratio improved sharply to 70.5% from 75.4% a year earlier. Earnings per share came in at $2.07, more than double the $1.01 analyst estimate, while revenue rose to $4.65 billion from $3.05 billion.
Corporate Filings and Metrics
Separate Form 4 filings disclosed routine restricted stock unit (RSU) awards to multiple directors, including David Plouffe and William Gassen. Each director received 8,475 RSUs as part of routine board compensation grants, with no open-market share purchases or sales involved. Oscar Health has a market capitalization of approximately $8.26 billion. The stock has traded between a 52-week high of $27.59 and a 52-week low of $10.69. Over the past 12 months, OSCR shares have gained approximately 85.57%.
Key Financial Projections
| Metric | Value |
|---|---|
| Revenue (2026) | $18.7 billion to $19 billion |
| Operating Earnings (2026) | $250 million to $450 million |
| Wakely Report Variance | $130 million favorable |
| Q1 Profit | $679 million |
| Q1 Membership | 3.17 million |
What specific market data is management awaiting before considering an adjustment to the current 2026 guidance?
Can the favorable utilization trends observed through May be sustained throughout the remainder of the year?
How will Oscar Health allocate capital to support the projected revenue growth to nearly $19 billion by 2026?
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