Oscar Health (NYSE:OSCR) Rating Increased to Hold at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Oscar Health (NYSE:OSCR) from a strong sell rating to a hold rating in a report issued on Thursday,Zacks.com reports.

Several other brokerages have also commented on OSCR. Robert W. Baird upped their price objective on shares of Oscar Health from $15.00 to $19.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Wall Street Zen upgraded shares of Oscar Health from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 9th. Wolfe Research started coverage on shares of Oscar Health in a report on Tuesday, May 5th. They issued a “peer perform” rating for the company. Weiss Ratings restated a “sell (d)” rating on shares of Oscar Health in a report on Tuesday, April 21st. Finally, UBS Group upped their price objective on shares of Oscar Health from $15.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $20.22.

Oscar Health Trading Up 14.8%

Shares of OSCR opened at $23.54 on Thursday. The stock has a market capitalization of $7.10 billion, a P/E ratio of -39.90, a PEG ratio of 1.43 and a beta of 2.37. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.26. The firm has a fifty day simple moving average of $18.15 and a two-hundred day simple moving average of $16.00. Oscar Health has a twelve month low of $10.69 and a twelve month high of $25.58.

Oscar Health (NYSE:OSCR) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.96. Oscar Health had a negative net margin of 0.30% and a negative return on equity of 3.26%. The business had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter in the prior year, the company posted $0.92 EPS. The firm’s revenue for the quarter was up 52.6% compared to the same quarter last year. On average, research analysts anticipate that Oscar Health will post 0.47 EPS for the current year.

Insider Transactions at Oscar Health

In other news, insider Janet Liang sold 12,475 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $21.94, for a total value of $273,701.50. Following the sale, the insider directly owned 259,057 shares of the company’s stock, valued at $5,683,710.58. This represents a 4.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Adam Mcananey sold 9,859 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $21.94, for a total transaction of $216,306.46. Following the completion of the sale, the insider directly owned 218,096 shares in the company, valued at $4,785,026.24. This represents a 4.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 189,660 shares of company stock worth $4,283,140. 24.39% of the stock is owned by insiders.

Institutional Trading of Oscar Health

Hedge funds and other institutional investors have recently modified their holdings of the business. Jones Financial Companies Lllp grew its position in shares of Oscar Health by 7,473.3% in the 1st quarter. Jones Financial Companies Lllp now owns 2,272 shares of the company’s stock worth $30,000 after buying an additional 2,242 shares during the period. Strs Ohio purchased a new stake in shares of Oscar Health in the 1st quarter worth about $30,000. Fifth Third Bancorp grew its position in shares of 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 during the period. Quarry LP grew its position in Oscar Health by 439.8% during the 3rd quarter. Quarry LP now owns 1,803 shares of the company’s stock valued at $34,000 after purchasing an additional 1,469 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Oscar Health during the 1st quarter valued at about $49,000. 75.70% of the stock is owned by hedge funds and other institutional investors.

More Oscar Health News

Here are the key news stories impacting Oscar Health this week:

• Positive Sentiment: Wells Fargo upgraded Oscar Health from “strong sell” to “hold,” which can improve investor confidence and suggests the stock may have become less risky after its recent run-up. Zacks.com
• Positive Sentiment: Recent management commentary/news around a co-founder moving into an advisory leadership role appears to indicate an internal transition rather than a disruptive change, which the market may be viewing as neutral-to-positive. Oscar Health Co-Founder Shifts to Advisory Leadership Role
• Neutral Sentiment: Several insiders, including CFO Richard Scott Blackley, insider Janet Liang, Adam Mcananey, director Mario Schlosser, and CAO Victoria Baltrus, sold shares under pre-arranged 10b5-1 plans tied to tax withholding on equity awards. Because these are planned transactions, they are less concerning than discretionary selling, but they can still weigh on sentiment.

Oscar Health Company Profile

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.