Oscar Health (NYSE:OSCR) Raised to Strong-Buy at Zacks Research

Oscar Health (NYSE:OSCR) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

A number of other analysts have also weighed in on the company. Wall Street Zen upgraded Oscar Health from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 14th. Robert W. Baird upped their price target on shares of Oscar Health from $15.00 to $19.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Jefferies Financial Group raised shares of Oscar Health from an “underperform” rating to a “hold” rating and raised their price target for the stock from $10.00 to $16.00 in a research note on Monday, April 20th. Wolfe Research initiated coverage on shares of Oscar Health in a report on Tuesday, May 5th. They set a “peer perform” rating for the company. Finally, UBS Group boosted their price objective on shares of Oscar Health from $15.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $20.78.

Oscar Health Stock Performance

NYSE:OSCR opened at $31.07 on Monday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.11 and a current ratio of 1.11. Oscar Health has a fifty-two week low of $10.69 and a fifty-two week high of $33.10. The firm has a market capitalization of $9.37 billion, a PE ratio of -52.67, a PEG ratio of 2.20 and a beta of 2.34. The stock’s fifty day moving average is $25.08 and its 200 day moving average is $18.10.

Oscar Health (NYSE:OSCR) last released its earnings results on Wednesday, May 6th. The company reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.96. Oscar Health had a negative return on equity of 3.26% and a negative net margin of 0.30%.The firm had revenue of $4.65 billion for the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter in the prior year, the firm posted $0.92 earnings per share. The company’s quarterly revenue was up 52.6% on a year-over-year basis. On average, sell-side analysts anticipate that Oscar Health will post 0.47 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Mark T. Bertolini sold 624,244 shares of the company’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $28.48, for a total transaction of $17,778,469.12. Following the completion of the sale, the chief executive officer directly owned 7,751,570 shares in the company, valued at $220,764,713.60. This represents a 7.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 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. Also, Director Mario Schlosser sold 880,000 shares of Oscar Health stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $29.38, for a total value of $25,854,400.00. Following the completion of the transaction, the director owned 480,866 shares in the company, valued at $14,127,843.08. This trade represents a 64.66% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 3,662,466 shares of company stock valued at $105,145,815. 25.11% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Oscar Health

Several institutional investors have recently bought and sold shares of OSCR. BIT Capital GmbH grew its stake in Oscar Health by 545.0% during the 4th quarter. BIT Capital GmbH now owns 6,186,267 shares of the company’s stock valued at $88,897,000 after purchasing an additional 5,227,152 shares during the last quarter. Farallon Capital Management LLC lifted its holdings in shares of Oscar Health by 146.5% during the third quarter. Farallon Capital Management LLC now owns 3,639,000 shares of the company’s stock worth $68,886,000 after purchasing an additional 2,163,000 shares during the period. Morgan Stanley lifted its holdings in shares of Oscar Health by 42.8% during the fourth quarter. Morgan Stanley now owns 6,814,046 shares of the company’s stock worth $97,918,000 after purchasing an additional 2,043,758 shares during the period. Bank of America Corp DE boosted its position in Oscar Health by 205.1% in the first quarter. Bank of America Corp DE now owns 2,860,310 shares of the company’s stock valued at $32,808,000 after buying an additional 1,922,732 shares during the last quarter. Finally, Thrive Capital Management LLC boosted its position in 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 during the last quarter. 75.70% of the stock is currently owned by institutional investors and hedge funds.

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.