Oscar Health (NYSE:OSCR) Upgraded 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 note issued to investors on Monday,Zacks.com reports.

A number of other equities analysts have also recently weighed in on the stock. Barclays raised shares of Oscar Health from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $30.00 to $35.00 in a research report on Wednesday, June 10th. Jefferies Financial Group raised Oscar Health from an “underperform” rating to a “hold” rating and raised their price objective for the stock from $10.00 to $16.00 in a research note on Monday, April 20th. Wells Fargo & Company set a $20.00 target price on Oscar Health and gave the company an “equal weight” rating in a research note on Thursday, June 4th. UBS Group increased their price target on Oscar Health from $15.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Finally, Weiss Ratings lowered Oscar Health from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Oscar Health has a consensus rating of “Hold” and an average target price of $20.78.

Oscar Health Trading Down 1.2%

NYSE OSCR opened at $31.07 on Monday. Oscar Health has a 12 month low of $10.69 and a 12 month high of $33.10. The stock has a 50-day simple moving average of $25.08 and a 200 day simple moving average of $18.10. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $9.37 billion, a PE ratio of -52.67, a P/E/G ratio of 2.20 and a beta of 2.34.

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

Insider Transactions at Oscar Health

In other Oscar Health news, CFO Richard Scott Blackley sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $23.16, for a total transaction of $2,316,000.00. Following the completion of the transaction, the chief financial officer owned 1,216,660 shares of the company’s stock, valued at $28,177,845.60. This represents a 7.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mark T. Bertolini sold 624,244 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 7,751,570 shares of the company’s stock, valued at $220,764,713.60. This represents a 7.45% decrease in their ownership of the stock. 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 3,662,466 shares of company stock valued at $105,145,815 over the last three months. 25.11% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Oscar Health by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 20,701,250 shares of the company’s stock valued at $297,477,000 after acquiring an additional 540,851 shares in the last quarter. Geode Capital Management LLC boosted its position in Oscar Health by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 4,798,313 shares of the company’s stock valued at $68,964,000 after purchasing an additional 116,430 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its stake in Oscar Health by 1,097.8% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 237,882 shares of the company’s stock valued at $3,418,000 after purchasing an additional 218,022 shares in the last quarter. BIT Capital GmbH increased its position in shares of Oscar Health by 545.0% during the 4th quarter. BIT Capital GmbH now owns 6,186,267 shares of the company’s stock worth $88,897,000 after purchasing an additional 5,227,152 shares during the last quarter. Finally, Farallon Capital Management LLC increased its position in shares of Oscar Health by 146.5% during the 3rd 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 last quarter. Institutional investors and hedge funds own 75.70% of the company’s stock.

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.