Oscar Health (NYSE:OSCR) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Oscar Health (NYSE:OSCR) from a sell rating to a hold rating in a report published on Saturday.

OSCR has been the topic of a number of other reports. Stephens initiated coverage on Oscar Health in a research note on Thursday, December 11th. They issued an “equal weight” rating and a $17.00 price objective on the stock. Wells Fargo & Company reduced their target price on shares of Oscar Health from $14.00 to $11.00 and set an “underweight” rating for the company in a research note on Thursday, November 13th. Barclays set a $18.00 price target on shares of Oscar Health and gave the company an “equal weight” rating in a research report on Monday, January 5th. Piper Sandler raised shares of Oscar Health from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $13.00 to $25.00 in a report on Tuesday, November 25th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Oscar Health in a research note on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $16.88.

Oscar Health Price Performance

Oscar Health stock opened at $13.41 on Friday. The business’s 50 day simple moving average is $15.24 and its 200 day simple moving average is $16.71. Oscar Health has a 12 month low of $11.20 and a 12 month high of $23.80. The company has a market cap of $3.55 billion, a price-to-earnings ratio of -7.70 and a beta of 1.90. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.67.

Oscar Health (NYSE:OSCR) last released its earnings results on Tuesday, February 10th. The company reported ($1.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.32). Oscar Health had a negative return on equity of 37.72% and a negative net margin of 3.79%.The firm had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same period in the prior year, the business earned ($0.62) earnings per share. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. Sell-side analysts forecast that Oscar Health will post 0.69 EPS for the current year.

Insider Activity

In other news, insider Adam Mcananey sold 1,852 shares of the company’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $16.59, for a total value of $30,724.68. Following the transaction, the insider owned 179,241 shares of the company’s stock, valued at approximately $2,973,608.19. This represents a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Janet Liang sold 7,338 shares of the stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $16.59, for a total value of $121,737.42. Following the completion of the sale, the insider owned 172,527 shares in the company, valued at $2,862,222.93. This trade represents a 4.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 197,125 shares of company stock worth $3,265,300 in the last three months. Insiders own 24.39% of the company’s stock.

Hedge Funds Weigh In On Oscar Health

A number of institutional investors have recently added to or reduced their stakes in OSCR. Farther Finance Advisors LLC boosted its position in shares of Oscar Health by 4,420.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,311 shares of the company’s stock valued at $25,000 after acquiring an additional 1,282 shares during the last quarter. Jones Financial Companies Lllp raised its stake in Oscar Health by 7,473.3% in the first quarter. Jones Financial Companies Lllp now owns 2,272 shares of the company’s stock valued at $30,000 after purchasing an additional 2,242 shares in the last quarter. Strs Ohio bought a new stake in Oscar Health during the first quarter valued at approximately $30,000. Atlantic Union Bankshares Corp purchased a new position in Oscar Health in the 2nd quarter worth approximately $33,000. Finally, Fifth Third Bancorp grew its stake in Oscar Health by 148.7% in the 4th quarter. Fifth Third Bancorp now owns 2,363 shares of the company’s stock worth $34,000 after buying an additional 1,413 shares in the last quarter. 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.