Piper Sandler Downgrades Oscar Health (NYSE:OSCR) to Neutral

Oscar Health (NYSE:OSCR) was downgraded by analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a research note issued on Monday, Marketbeat.com reports. They presently have a $14.00 target price on the stock. Piper Sandler’s price objective would suggest a potential downside of 7.70% from the stock’s current price.

Other analysts have also issued research reports about the company. Raymond James Financial lowered Oscar Health from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 24th. Wall Street Zen lowered Oscar Health from a “buy” rating to a “hold” rating in a research report on Sunday, June 8th. Wells Fargo & Company downgraded Oscar Health from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $16.00 to $10.00 in a report on Friday. Finally, Barclays started coverage on shares of Oscar Health in a research note on Wednesday, July 2nd. They issued an “underweight” rating and a $17.00 price target for the company. Four equities research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $14.92.

Oscar Health Stock Performance

OSCR opened at $15.17 on Monday. The business’s 50-day moving average price is $16.35 and its two-hundred day moving average price is $14.90. Oscar Health has a 1 year low of $11.20 and a 1 year high of $23.79. The company has a market capitalization of $3.86 billion, a price-to-earnings ratio of 54.17 and a beta of 1.90. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.88 and a quick ratio of 0.88.

Oscar Health (NYSE:OSCR) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.09. Oscar Health had a return on equity of 10.59% and a net margin of 1.22%. The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.87 billion. During the same quarter last year, the business posted $0.62 EPS. The company’s revenue for the quarter was up 42.2% on a year-over-year basis. Equities analysts expect that Oscar Health will post 0.69 EPS for the current fiscal year.

Insider Activity at Oscar Health

In other news, Director Elbert O. Jr. Robinson sold 25,000 shares of the firm’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $16.43, for a total transaction of $410,750.00. Following the completion of the sale, the director owned 64,512 shares in the company, valued at approximately $1,059,932.16. This trade represents a 27.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 25.11% of the stock is currently owned by company insiders.

Institutional Trading of Oscar Health

Hedge funds have recently modified their holdings of the stock. Southeastern Asset Management Inc. TN lifted its stake in shares of Oscar Health by 52.2% during the 4th quarter. Southeastern Asset Management Inc. TN now owns 3,131,084 shares of the company’s stock worth $42,082,000 after buying an additional 1,073,359 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in Oscar Health by 37.8% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,741,306 shares of the company’s stock worth $23,403,000 after purchasing an additional 477,634 shares in the last quarter. Man Group plc raised its stake in Oscar Health by 344.8% in the 4th quarter. Man Group plc now owns 1,813,216 shares of the company’s stock worth $24,370,000 after purchasing an additional 1,405,554 shares in the last quarter. Toronto Dominion Bank acquired a new stake in Oscar Health in the 4th quarter worth about $1,008,000. Finally, Concurrent Investment Advisors LLC acquired a new stake in Oscar Health in the 1st quarter worth about $677,000. Institutional investors and hedge funds own 75.70% of the company’s stock.

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.