Oscar Health (NYSE:OSCR) Upgraded at Zacks Research

Oscar Health (NYSE:OSCR) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on the company. Weiss Ratings cut Oscar Health from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, June 24th. Wolfe Research initiated coverage on shares of Oscar Health in a research report on Tuesday, May 5th. They set a “peer perform” rating for the company. Jefferies Financial Group raised shares of Oscar Health from an “underperform” rating to a “hold” rating and increased their price objective for the company from $10.00 to $16.00 in a research report on Monday, April 20th. UBS Group raised their target price on shares of Oscar Health from $15.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Finally, Wells Fargo & Company set a $20.00 target price on shares of Oscar Health and gave the stock an “equal weight” rating in a report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $20.78.

Oscar Health Stock Down 1.2%

Shares of OSCR stock opened at $31.07 on Monday. Oscar Health has a 52-week low of $10.69 and a 52-week high of $33.10. The stock has a market cap of $9.37 billion, a price-to-earnings ratio of -52.67, a PEG ratio of 2.20 and a beta of 2.34. The firm’s 50-day moving average is $25.08 and its 200-day moving average is $18.10. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.11 and a current ratio of 1.11.

Oscar Health (NYSE:OSCR) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.96. The business had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.90 billion. Oscar Health had a negative return on equity of 3.26% and a negative net margin of 0.30%.Oscar Health’s quarterly revenue was up 52.6% on a year-over-year basis. During the same quarter last year, the company posted $0.92 earnings per share. Sell-side analysts predict that Oscar Health will post 0.47 EPS for the current year.

Insider Buying and Selling at Oscar Health

In other news, CFO Richard Scott Blackley sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $23.16, for a total transaction of $2,316,000.00. Following the transaction, the chief financial officer directly owned 1,216,660 shares of the company’s stock, valued at approximately $28,177,845.60. This trade represents a 7.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mario Schlosser sold 880,000 shares of Oscar Health stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $29.38, for a total transaction of $25,854,400.00. Following the completion of the sale, the director owned 480,866 shares of the company’s stock, valued at approximately $14,127,843.08. The trade was a 64.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 3,662,466 shares of company stock valued at $105,145,815 in the last three months. 25.11% of the stock is owned by insiders.

Institutional Trading of Oscar Health

A number of institutional investors have recently modified their holdings of the stock. Fermata Advisors LLC bought a new position in shares of Oscar Health in the second quarter worth $205,000. GAMMA Investing LLC grew its stake in Oscar Health by 32.9% during the second quarter. GAMMA Investing LLC now owns 1,441 shares of the company’s stock worth $41,000 after buying an additional 357 shares in the last quarter. CoreCap Advisors LLC increased its holdings in Oscar Health by 526.3% in the 2nd quarter. CoreCap Advisors LLC now owns 1,190 shares of the company’s stock valued at $34,000 after buying an additional 1,000 shares during the period. Empowered Funds LLC acquired a new position in shares of Oscar Health in the 1st quarter valued at approximately $6,234,000. Finally, Bank of America Corp DE lifted its holdings in shares of Oscar Health by 205.1% during the 1st quarter. Bank of America Corp DE now owns 2,860,310 shares of the company’s stock worth $32,808,000 after acquiring an additional 1,922,732 shares during the period. 75.70% of the stock is currently owned by institutional investors.

About Oscar Health

Oscar Health, trading on the New York Stock Exchange under the ticker OSCR, is a technology-driven health insurance company headquartered in New York, New York. Founded in 2012 by Mario Schlosser, Joshua Kushner and Kevin Nazemi, the company was built with the goal of simplifying healthcare coverage and enhancing member experience. Oscar leverages a proprietary digital platform to streamline plan enrollment, claims administration and member support, distinguishing itself in the individual, family and small group insurance markets.

The company’s primary products include on-exchange individual and family medical plans under the Affordable Care Act, off-exchange plans, as well as Medicare Advantage offerings.