Piper Sandler Raises Oscar Health (NYSE:OSCR) Price Target to $28.00

Oscar Health (NYSE:OSCR) had its price objective hoisted by Piper Sandler from $25.00 to $28.00 in a research report report published on Thursday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts have also recently commented on the company. Robert W. Baird assumed coverage on Oscar Health in a research report on Thursday, May 30th. They issued an outperform rating and a $28.00 target price for the company. Baird R W upgraded Oscar Health to a strong-buy rating in a report on Thursday, May 30th. Wells Fargo & Company raised their price target on shares of Oscar Health from $24.00 to $27.00 and gave the stock an overweight rating in a report on Wednesday, June 12th. The Goldman Sachs Group increased their target price on shares of Oscar Health from $16.00 to $21.00 and gave the stock a neutral rating in a research report on Thursday, May 9th. Finally, Bank of America restated a neutral rating and set a $21.00 price target (down from $25.00) on shares of Oscar Health in a report on Thursday, May 30th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $21.79.

Oscar Health Stock Down 2.3 %

Oscar Health stock traded down $0.42 during mid-day trading on Thursday, hitting $18.05. The company’s stock had a trading volume of 2,352,041 shares, compared to its average volume of 2,778,872. Oscar Health has a twelve month low of $4.72 and a twelve month high of $23.44. The stock’s fifty day moving average price is $17.37 and its two-hundred day moving average price is $16.83. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.29.

Oscar Health (NYSE:OSCR) last issued its earnings results on Wednesday, August 7th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.04. Oscar Health had a negative return on equity of 5.77% and a negative net margin of 0.82%. The business had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the previous year, the firm posted ($0.07) EPS. The company’s quarterly revenue was up 44.6% on a year-over-year basis. On average, analysts predict that Oscar Health will post -0.06 EPS for the current fiscal year.

Insider Activity

In related news, EVP Alessandrea C. Quane sold 25,550 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $19.46, for a total transaction of $497,203.00. Following the completion of the transaction, the executive vice president now directly owns 237,347 shares in the company, valued at approximately $4,618,772.62. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Oscar Health news, EVP Alessandrea C. Quane sold 25,550 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $19.46, for a total value of $497,203.00. Following the completion of the transaction, the executive vice president now owns 237,347 shares of the company’s stock, valued at approximately $4,618,772.62. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Mario Schlosser sold 5,808 shares of Oscar Health stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $19.46, for a total value of $113,023.68. Following the sale, the insider now directly owns 65,920 shares in the company, valued at approximately $1,282,803.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 81,655 shares of company stock valued at $1,589,006. 25.11% of the stock is owned by insiders.

Institutional Trading of Oscar Health

Several large investors have recently added to or reduced their stakes in OSCR. Renaissance Technologies LLC grew its position in Oscar Health by 31.7% during the 2nd quarter. Renaissance Technologies LLC now owns 3,886,100 shares of the company’s stock worth $61,478,000 after acquiring an additional 934,600 shares during the last quarter. WINTON GROUP Ltd acquired a new position in Oscar Health in the second quarter worth $1,363,000. Thoroughbred Financial Services LLC bought a new stake in shares of Oscar Health during the second quarter worth $402,000. Jupiter Asset Management Ltd. increased its stake in shares of Oscar Health by 1,179.5% in the second quarter. Jupiter Asset Management Ltd. now owns 562,049 shares of the company’s stock valued at $8,892,000 after buying an additional 518,121 shares in the last quarter. Finally, AGF Management Ltd. bought a new position in shares of Oscar Health in the second quarter valued at about $4,472,000. 75.70% of the stock is owned by institutional investors.

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.