Oscar Health (NYSE:OSCR) Sets New 52-Week High Following Analyst Upgrade

Oscar Health, Inc. (NYSE:OSCR) reached a new 52-week high on Thursday after The Goldman Sachs Group raised their price target on the stock from $16.00 to $21.00. The Goldman Sachs Group currently has a neutral rating on the stock. Oscar Health traded as high as $21.41 and last traded at $20.89, with a volume of 485980 shares. The stock had previously closed at $20.74.

Several other equities analysts have also recently weighed in on OSCR. Raymond James assumed coverage on shares of Oscar Health in a research report on Friday, March 22nd. They issued an “outperform” rating and a $20.00 price target on the stock. TheStreet upgraded shares of Oscar Health from a “d” rating to a “c-” rating in a report on Wednesday, February 21st. Finally, Wells Fargo & Company boosted their target price on Oscar Health from $12.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, February 15th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Oscar Health currently has an average rating of “Moderate Buy” and a consensus price target of $14.33.

Hedge Funds Weigh In On Oscar Health

A number of institutional investors have recently made changes to their positions in the stock. Amalgamated Bank lifted its position in Oscar Health by 10.6% in the 3rd quarter. Amalgamated Bank now owns 15,762 shares of the company’s stock worth $88,000 after buying an additional 1,516 shares during the last quarter. Summit Trail Advisors LLC lifted its holdings in shares of Oscar Health by 9.5% in the 1st quarter. Summit Trail Advisors LLC now owns 19,755 shares of the company’s stock worth $294,000 after acquiring an additional 1,715 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of Oscar Health by 3.8% in the 4th quarter. New York State Common Retirement Fund now owns 64,856 shares of the company’s stock valued at $593,000 after purchasing an additional 2,394 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of Oscar Health by 10.9% during the 1st quarter. ProShare Advisors LLC now owns 28,950 shares of the company’s stock valued at $430,000 after purchasing an additional 2,842 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its position in Oscar Health by 20.8% in the 1st quarter. Oppenheimer & Co. Inc. now owns 19,450 shares of the company’s stock worth $289,000 after purchasing an additional 3,350 shares during the period. Institutional investors own 75.70% of the company’s stock.

Oscar Health Price Performance

The firm has a market capitalization of $4.80 billion, a P/E ratio of -17.29 and a beta of 1.66. The firm’s 50 day simple moving average is $15.50 and its two-hundred day simple moving average is $12.02. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.19 and a quick ratio of 1.19.

Oscar Health (NYSE:OSCR) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.34. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $1.99 billion. Oscar Health had a negative net margin of 4.62% and a negative return on equity of 29.99%. The company’s revenue was up 45.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.18) EPS. As a group, analysts predict that Oscar Health, Inc. will post -0.23 earnings per share for the current year.

About Oscar Health

Oscar Health, Inc operates as a health insurance in the United States. The company offers health plans in individual and small group markets, as well as +Oscar, a technology driven platform that help providers and payors directly enable their shift to value-based care. It also provides reinsurance products.