Oscar Health, Inc. (NYSE:OSCR) Receives $24.00 Consensus Price Target from Brokerages

Shares of Oscar Health, Inc. (NYSE:OSCR) have received an average rating of “Hold” from the twelve brokerages that are currently covering the company, Marketbeat.com reports. Eight analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $26.2222.

Several equities research analysts have issued reports on OSCR shares. Robert W. Baird set a $27.00 target price on shares of Oscar Health in a research report on Friday, August 7th. Piper Sandler restated an “overweight” rating and set a $36.00 price objective on shares of Oscar Health in a research report on Tuesday, July 28th. Wall Street Zen upgraded shares of Oscar Health from a “buy” rating to a “strong-buy” rating in a research report on Sunday, June 14th. UBS Group lifted their price objective on shares of Oscar Health from $20.00 to $26.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Finally, Zacks Research upgraded shares of Oscar Health from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th.

Insider Activity at Oscar Health

In other news, CEO Mark T. Bertolini sold 624,244 shares of the firm’s stock in a transaction dated 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 approximately $220,764,713.60. This trade represents a 7.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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, insider Janet Liang sold 12,475 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $21.94, for a total value of $273,701.50. Following the transaction, the insider owned 259,057 shares in the company, valued at approximately $5,683,710.58. The trade was a 4.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 have sold 3,562,466 shares of company stock worth $102,829,815 in the last 90 days. Corporate insiders own 22.64% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. BIT Capital GmbH raised its holdings in Oscar Health by 545.0% in the fourth 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 in the last quarter. Morgan Stanley boosted its holdings in shares of Oscar Health by 42.8% during the 4th quarter. Morgan Stanley now owns 6,814,046 shares of the company’s stock valued at $97,918,000 after buying an additional 2,043,758 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Oscar Health by 205.1% during the 1st 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 in the last quarter. Thrive Capital Management LLC grew its position in shares of Oscar Health by 33.4% in the 4th quarter. Thrive Capital Management LLC now owns 6,343,617 shares of the company’s stock worth $85,258,000 after buying an additional 1,588,395 shares during the period. Finally, Wedge Capital Management L L P NC bought a new position in shares of Oscar Health in the 2nd quarter worth about $32,855,000. 75.70% of the stock is owned by hedge funds and other institutional investors.

Oscar Health Stock Up 6.2%

OSCR opened at $32.68 on Monday. Oscar Health has a 12 month low of $10.69 and a 12 month high of $33.27. The company has a market cap of $10.09 billion, a PE ratio of 23.34, a price-to-earnings-growth ratio of 0.63 and a beta of 2.36. The company has a current ratio of 1.09, a quick ratio of 1.11 and a debt-to-equity ratio of 0.21. The company has a 50 day moving average of $29.65 and a 200 day moving average of $20.85.

Oscar Health (NYSE:OSCR) last issued its quarterly earnings data on Thursday, August 6th. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.70. Oscar Health had a return on equity of 38.45% and a net margin of 3.60%.The business had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $4.73 billion. During the same quarter in the prior year, the firm posted ($0.89) EPS. The firm’s quarterly revenue was up 70.4% on a year-over-year basis. On average, sell-side analysts expect that Oscar Health will post 1.54 EPS 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.