Barclays Cuts Oscar Health (NYSE:OSCR) Price Target to $11.00

Oscar Health (NYSE:OSCR) had its price objective cut by Barclays from $17.00 to $11.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have an underweight rating on the stock.

OSCR has been the topic of a number of other research reports. Wells Fargo & Company cut Oscar Health from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $16.00 to $10.00 in a research note on Friday, July 11th. Piper Sandler downgraded shares of Oscar Health from an “overweight” rating to a “neutral” rating and set a $14.00 target price for the company. in a report on Monday, July 14th. Wall Street Zen lowered shares of Oscar Health from a “buy” rating to a “hold” rating in a research note on Sunday, June 8th. Raymond James Financial downgraded shares of Oscar Health from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 24th. Finally, UBS Group restated a “sell” rating and set a $11.00 price objective (down previously from $15.00) on shares of Oscar Health in a report on Tuesday, July 15th. Five investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat, Oscar Health has a consensus rating of “Reduce” and an average price target of $12.21.

Oscar Health Stock Performance

Shares of OSCR stock opened at $14.45 on Wednesday. The company has a fifty day moving average price of $15.99 and a two-hundred day moving average price of $14.92. Oscar Health has a one year low of $11.20 and a one year high of $23.79. The stock has a market cap of $3.68 billion, a P/E ratio of 51.59 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 posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.09. The business had revenue of $3 billion during the quarter, compared to analysts’ expectations of $2.87 billion. Oscar Health had a return on equity of 10.59% and a net margin of 1.22%. Oscar Health’s quarterly revenue was up 42.2% on a year-over-year basis. During the same quarter last year, the company posted $0.62 earnings per share. As a group, equities analysts predict that Oscar Health will post 0.69 EPS for the current year.

Insider Activity

In related news, Director Elbert O. Jr. Robinson sold 25,000 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $16.43, for a total transaction of $410,750.00. Following the sale, the director owned 64,512 shares of the company’s stock, valued at $1,059,932.16. This represents a 27.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 24.39% of the company’s stock.

Institutional Trading of Oscar Health

A number of institutional investors have recently modified their holdings of the stock. Southeastern Asset Management Inc. TN lifted its position in Oscar Health by 52.2% during the fourth quarter. Southeastern Asset Management Inc. TN now owns 3,131,084 shares of the company’s stock worth $42,082,000 after purchasing an additional 1,073,359 shares during the period. Jacobs Levy Equity Management Inc. raised its position in shares of 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 valued at $23,403,000 after buying an additional 477,634 shares in the last quarter. Man Group plc lifted its holdings in shares of Oscar Health by 344.8% during the 4th quarter. Man Group plc now owns 1,813,216 shares of the company’s stock worth $24,370,000 after acquiring an additional 1,405,554 shares during the period. Toronto Dominion Bank acquired a new stake in shares of Oscar Health during the 4th quarter worth approximately $1,008,000. Finally, Concurrent Investment Advisors LLC acquired a new stake in shares of Oscar Health during the 1st quarter worth approximately $677,000. 75.70% of the stock is currently 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.