Oscar Health (NYSE:OSCR) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of Oscar Health (NYSE:OSCR) from a hold rating to a strong-buy rating in a research note released on Monday morning,Zacks.com reports.

Several other research analysts have also recently issued reports on the stock. Wolfe Research started coverage on shares of Oscar Health in a report on Tuesday, May 5th. They set a “peer perform” rating for the company. Wells Fargo & Company set a $20.00 target price on Oscar Health and gave the stock an “equal weight” rating in a research report on Thursday, June 4th. Robert W. Baird increased their target price on Oscar Health from $15.00 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. UBS Group raised their price target on Oscar Health from $15.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Finally, Weiss Ratings downgraded Oscar Health from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $20.78.

Oscar Health Price Performance

Shares of NYSE OSCR opened at $31.07 on Monday. The stock has a fifty day moving average price of $25.08 and a 200 day moving average price of $18.10. Oscar Health has a 1-year low of $10.69 and a 1-year high of $33.10. 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 company has a market cap of $9.37 billion, a PE ratio of -52.67, a P/E/G ratio of 2.20 and a beta of 2.34.

Oscar Health (NYSE:OSCR) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $2.07 earnings per share (EPS) 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 company had revenue of $4.65 billion for the quarter, compared to analysts’ expectations of $4.90 billion. During the same period in the previous year, the company posted $0.92 EPS. Oscar Health’s revenue was up 52.6% compared to the same quarter last year. Sell-side analysts forecast that Oscar Health will post 0.47 EPS for the current year.

Insider Activity at Oscar Health

In other news, 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 directly owned 480,866 shares in the company, valued at approximately $14,127,843.08. This trade represents a 64.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mark T. Bertolini sold 624,244 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $28.48, for a total value of $17,778,469.12. Following the sale, the chief executive officer directly owned 7,751,570 shares in the company, valued at $220,764,713.60. This trade represents a 7.45% decrease in their position. 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. In the last ninety days, insiders sold 3,662,466 shares of company stock valued at $105,145,815. 25.11% of the stock is currently owned by corporate insiders.

Institutional Trading of Oscar Health

Several large investors have recently bought and sold shares of the company. Jones Financial Companies Lllp raised its stake in shares of Oscar Health by 7,473.3% during 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 last quarter. Strs Ohio acquired a new stake in Oscar Health in the 1st quarter valued at about $30,000. Fifth Third Bancorp increased its holdings in Oscar Health by 148.7% during the 4th quarter. Fifth Third Bancorp now owns 2,363 shares of the company’s stock valued at $34,000 after acquiring an additional 1,413 shares in the last quarter. CoreCap Advisors LLC raised its position in Oscar Health by 526.3% during the second quarter. CoreCap Advisors LLC now owns 1,190 shares of the company’s stock worth $34,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Quarry LP raised its position in Oscar Health by 439.8% during the third quarter. Quarry LP now owns 1,803 shares of the company’s stock worth $34,000 after acquiring an additional 1,469 shares during the last quarter. Institutional investors and hedge funds own 75.70% of the company’s stock.

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.