Oscar Health (NYSE:OSCR) Price Target Cut to $18.00 by Analysts at Piper Sandler

Oscar Health (NYSE:OSCR) had its price target lowered by equities researchers at Piper Sandler from $25.00 to $18.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price target would indicate a potential upside of 16.69% from the company’s previous close.

Other analysts have also recently issued reports about the company. Wells Fargo & Company cut Oscar Health from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $20.00 to $16.00 in a research report on Thursday, March 13th. Wall Street Zen cut shares of Oscar Health from a “buy” rating to a “hold” rating in a research report on Sunday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $16.50.

Oscar Health Stock Performance

Shares of NYSE:OSCR traded up $0.01 during trading on Monday, hitting $15.43. 9,840,923 shares of the stock traded hands, compared to its average volume of 4,653,774. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.26. The company has a fifty day moving average price of $13.87 and a two-hundred day moving average price of $14.53. Oscar Health has a 52-week low of $11.20 and a 52-week high of $23.79. The company has a market cap of $3.93 billion, a price-to-earnings ratio of -770.36 and a beta of 1.73.

Oscar Health (NYSE:OSCR) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.09. Oscar Health had a net margin of 0.28% and a return on equity of 2.28%. The company had revenue of $3 billion during the quarter, compared to analysts’ expectations of $2.87 billion. During the same quarter in the previous year, the company earned $0.62 earnings per share. The firm’s revenue for the quarter was up 42.2% on a year-over-year basis. As a group, equities analysts predict that Oscar Health will post 0.69 EPS for the current year.

Insider Buying and Selling

In other news, Director Elbert O. Jr. Robinson sold 25,000 shares of the company’s stock in a transaction on 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 now owns 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 24.39% of the stock is owned by company insiders.

Hedge Funds Weigh In On Oscar Health

A number of institutional investors and hedge funds have recently bought and sold shares of OSCR. Hsbc Holdings PLC raised its holdings in Oscar Health by 2.7% in the 1st quarter. Hsbc Holdings PLC now owns 24,113 shares of the company’s stock valued at $313,000 after acquiring an additional 632 shares during the last quarter. Tempus Wealth Planning LLC increased its holdings in shares of Oscar Health by 6.7% in the first quarter. Tempus Wealth Planning LLC now owns 14,392 shares of the company’s stock valued at $189,000 after purchasing an additional 906 shares during the last quarter. Focus Partners Wealth increased its holdings in shares of Oscar Health by 1.8% in the first quarter. Focus Partners Wealth now owns 55,158 shares of the company’s stock valued at $723,000 after purchasing an additional 949 shares during the last quarter. Xponance Inc. lifted its position in Oscar Health by 7.1% during the first quarter. Xponance Inc. now owns 15,423 shares of the company’s stock worth $202,000 after buying an additional 1,029 shares in the last quarter. Finally, CWM LLC boosted its stake in Oscar Health by 50.7% during the first quarter. CWM LLC now owns 3,204 shares of the company’s stock worth $42,000 after buying an additional 1,078 shares during the last quarter. 75.70% of the stock is currently owned by institutional investors and hedge funds.

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.