Oscar Health (NYSE:OSCR) Shares Gap Up Following Analyst Upgrade

Oscar Health, Inc. (NYSE:OSCR) shares gapped up prior to trading on Wednesday after Barclays upgraded the stock from an equal weight rating to an overweight rating. The stock had previously closed at $27.22, but opened at $28.80. Barclays now has a $35.00 price target on the stock, up from their previous price target of $30.00. Oscar Health shares last traded at $28.8450, with a volume of 1,595,573 shares changing hands.

Several other research firms also recently commented on OSCR. Wolfe Research assumed coverage on shares of Oscar Health in a research report on Tuesday, May 5th. They issued a “peer perform” rating for the company. Wells Fargo & Company set a $20.00 price objective on Oscar Health and gave the stock an “equal weight” rating in a research report on Thursday, June 4th. Jefferies Financial Group upgraded Oscar Health from an “underperform” rating to a “hold” rating and increased their target price for the company from $10.00 to $16.00 in a research note on Monday, April 20th. Raymond James Financial raised Oscar Health from a “market perform” rating to an “outperform” rating and set a $18.00 target price on the stock in a report on Thursday, February 12th. Finally, Zacks Research lowered Oscar Health from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $20.78.

Insider Activity at Oscar Health

In other news, CEO Mark T. Bertolini bought 1,000,000 shares of Oscar Health stock in a transaction dated Monday, April 6th. The shares were bought at an average price of $11.92 per share, for a total transaction of $11,920,000.00. Following the purchase, the chief executive officer owned 10,196,876 shares of the company’s stock, valued at approximately $121,546,761.92. This trade represents a 10.87% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mario Schlosser sold 34,120 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $21.94, for a total transaction of $748,592.80. Following the sale, the director owned 480,866 shares of the company’s stock, valued at $10,550,200.04. This trade represents a 6.63% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 189,660 shares of company stock worth $4,283,140 in the last ninety days. Company insiders own 25.11% of the company’s stock.

Hedge Funds Weigh In On Oscar Health

Institutional investors have recently bought and sold shares of the business. Thrive Capital Management LLC increased its stake in shares of Oscar Health by 33.4% in the fourth quarter. Thrive Capital Management LLC now owns 6,343,617 shares of the company’s stock valued at $85,258,000 after buying an additional 1,588,395 shares in the last quarter. Baird Financial Group Inc. bought a new stake in Oscar Health during the 1st quarter worth about $159,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Oscar Health by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 215,650 shares of the company’s stock valued at $2,827,000 after acquiring an additional 8,879 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of Oscar Health by 7,473.3% in the first quarter. Jones Financial Companies Lllp now owns 2,272 shares of the company’s stock worth $30,000 after acquiring an additional 2,242 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Oscar Health by 39.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 470,590 shares of the company’s stock worth $6,169,000 after acquiring an additional 132,149 shares during the last quarter. Institutional investors own 75.70% of the company’s stock.

Oscar Health Price Performance

The stock’s 50-day moving average price is $19.02 and its 200-day moving average price is $16.25. The company has a market capitalization of $8.52 billion, a price-to-earnings ratio of -48.68, a price-to-earnings-growth ratio of 1.92 and a beta of 2.37. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.26.

Oscar Health (NYSE:OSCR) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.96. Oscar Health had a negative net margin of 0.30% and a negative return on equity of 3.26%. The business had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.90 billion. During the same quarter last year, the business posted $0.92 earnings per share. Oscar Health’s revenue for the quarter was up 52.6% compared to the same quarter last year. Equities research analysts anticipate that Oscar Health, Inc. will post 0.47 earnings per share for the current year.

About Oscar Health

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.