Oscar Health (NYSE:OSCR) Trading Up 9.4% on Analyst Upgrade

Oscar Health, Inc. (NYSE:OSCR)’s stock price shot up 9.4% during mid-day trading on Monday after Barclays upgraded the stock from an underweight rating to an equal weight rating. Barclays now has a $18.00 price target on the stock, up from their previous price target of $13.00. Oscar Health traded as high as $16.21 and last traded at $16.3830. 2,621,389 shares were traded during mid-day trading, a decline of 29% from the average session volume of 3,718,096 shares. The stock had previously closed at $14.97.

Other equities analysts have also recently issued research reports about the company. Wells Fargo & Company cut their price objective on Oscar Health from $14.00 to $11.00 and set an “underweight” rating for the company in a research report on Thursday, November 13th. Stephens began coverage on Oscar Health in a research report on Thursday, December 11th. They issued an “equal weight” rating and a $17.00 price target on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Oscar Health in a report on Wednesday, October 8th. Zacks Research upgraded shares of Oscar Health from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Finally, UBS Group boosted their target price on shares of Oscar Health from $11.00 to $12.00 and gave the stock a “sell” rating in a research report on Friday, November 7th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $16.29.

Insider Buying and Selling at Oscar Health

In other news, insider Janet Liang sold 7,338 shares of Oscar Health stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $16.59, for a total transaction of $121,737.42. Following the sale, the insider directly owned 172,527 shares in the company, valued at approximately $2,862,222.93. The trade was a 4.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mario Schlosser sold 286,182 shares of the company’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $15.27, for a total transaction of $4,369,999.14. Following the completion of the sale, the insider directly owned 501,148 shares in the company, valued at approximately $7,652,529.96. The trade was a 36.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 383,307 shares of company stock valued at $5,919,555 over the last quarter. 25.11% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in OSCR. Envestnet Asset Management Inc. boosted its position in shares of Oscar Health by 200.9% during the second quarter. Envestnet Asset Management Inc. now owns 30,210 shares of the company’s stock worth $648,000 after buying an additional 20,171 shares during the period. NewEdge Advisors LLC lifted its stake in Oscar Health by 89.7% in the 1st quarter. NewEdge Advisors LLC now owns 188,058 shares of the company’s stock valued at $2,465,000 after acquiring an additional 88,946 shares in the last quarter. Matauro LLC acquired a new position in Oscar Health during the 2nd quarter worth approximately $1,508,000. Kingswood Wealth Advisors LLC bought a new position in shares of Oscar Health during the 2nd quarter worth approximately $576,000. Finally, Lane Generational LLC acquired a new stake in shares of Oscar Health in the second quarter valued at approximately $4,800,000. Institutional investors and hedge funds own 75.70% of the company’s stock.

Oscar Health Stock Down 0.1%

The stock’s fifty day moving average price is $15.88 and its 200-day moving average price is $16.99. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $4.37 billion, a price-to-earnings ratio of -14.74 and a beta of 1.90.

Oscar Health (NYSE:OSCR) last released its earnings results on Thursday, November 6th. The company reported ($0.53) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.02. Oscar Health had a negative net margin of 2.16% and a negative return on equity of 21.50%. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter last year, the firm earned ($0.22) earnings per share. The firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. On average, sell-side analysts predict that Oscar Health, Inc. will post 0.69 earnings per share for the current fiscal year.

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.