Oscar Health (NYSE:OSCR) Shares Gap Up Following Analyst Upgrade

Oscar Health, Inc. (NYSE:OSCR) shares gapped up prior to trading on Wednesday after Barclays upgraded the stock from an equal weight rating to an overweight rating. The stock had previously closed at $27.22, but opened at $28.80. Barclays now has a $35.00 price target on the stock, up from their previous price target of $30.00. Oscar Health shares last traded at $28.8450, with a volume of 1,595,573 shares.

Other research analysts have also issued reports about the stock. UBS Group boosted their target price on shares of Oscar Health from $15.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Wall Street Zen cut Oscar Health from a “strong-buy” rating to a “buy” rating in a report on Saturday. Zacks Research downgraded Oscar Health from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 5th. Robert W. Baird increased their price objective on Oscar Health from $15.00 to $19.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Oscar Health in a research report on Tuesday, April 21st. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $20.78.

Insider Activity

In related news, insider Janet Liang sold 12,475 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $21.94, for a total transaction of $273,701.50. Following the sale, the insider owned 259,057 shares of the company’s stock, valued at $5,683,710.58. The trade was a 4.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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, CFO Richard Scott Blackley sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $23.16, for a total value of $2,316,000.00. Following the completion of the sale, the chief financial officer owned 1,216,660 shares of the company’s stock, valued at $28,177,845.60. This trade represents a 7.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 189,660 shares of company stock worth $4,283,140 in the last 90 days. 25.11% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Oscar Health

Hedge funds and other institutional investors have recently bought and sold shares of the business. BIT Capital GmbH raised its holdings in shares of Oscar Health by 545.0% in the 4th quarter. BIT Capital GmbH now owns 6,186,267 shares of the company’s stock worth $88,897,000 after purchasing an additional 5,227,152 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Oscar Health by 89.0% during the 3rd quarter. American Century Companies Inc. now owns 5,298,340 shares of the company’s stock worth $100,298,000 after acquiring an additional 2,495,691 shares in the last quarter. Farallon Capital Management LLC grew its holdings in shares of Oscar Health by 146.5% in the 3rd quarter. Farallon Capital Management LLC now owns 3,639,000 shares of the company’s stock worth $68,886,000 after acquiring an additional 2,163,000 shares during the last quarter. Morgan Stanley grew its holdings in shares of Oscar Health by 42.8% in the 4th quarter. Morgan Stanley now owns 6,814,046 shares of the company’s stock worth $97,918,000 after acquiring an additional 2,043,758 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of Oscar Health by 205.1% during the first quarter. Bank of America Corp DE now owns 2,860,310 shares of the company’s stock worth $32,808,000 after purchasing an additional 1,922,732 shares during the period. 75.70% of the stock is currently owned by institutional investors.

Oscar Health Stock Performance

The company has a debt-to-equity ratio of 0.26, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market capitalization of $8.52 billion, a PE ratio of -48.68, a P/E/G ratio of 1.92 and a beta of 2.37. The firm has a fifty day moving average price of $19.02 and a 200 day moving average price of $16.25.

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

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.