Oscar Health (NYSE:OSCR) Stock Price Up 7.1% on Analyst Upgrade

Oscar Health, Inc. (NYSE:OSCR) was up 7.1% on Friday after Wells Fargo & Company raised their price target on the stock from $20.00 to $27.00. Wells Fargo & Company currently has an equal weight rating on the stock. Oscar Health traded as high as $33.09 and last traded at $32.9770. Approximately 2,685,982 shares traded hands during trading, a decline of 63% from the average daily volume of 7,282,830 shares. The stock had previously closed at $30.78.

A number of other research firms have also recently commented on OSCR. Zacks Research raised Oscar Health from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. Weiss Ratings raised Oscar Health from a “sell (d+)” rating to a “hold (c+)” rating in a research note on Tuesday. Wall Street Zen upgraded shares of Oscar Health from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 14th. Jefferies Financial Group raised shares of Oscar Health from an “underperform” rating to a “hold” rating and increased their price objective for the company from $10.00 to $16.00 in a research note on Monday, April 20th. Finally, Robert W. Baird set a $27.00 price target on Oscar Health in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Oscar Health presently has a consensus rating of “Hold” and an average target price of $26.22.

Insiders Place Their Bets

In other news, CFO Richard Scott Blackley sold 31,683 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $21.94, for a total value of $695,125.02. Following the transaction, the chief financial officer directly owned 1,074,977 shares of the company’s stock, valued at $23,584,995.38. The trade was a 2.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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, insider Adam Mcananey sold 9,859 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $21.94, for a total value of $216,306.46. Following the sale, the insider owned 218,096 shares in the company, valued at approximately $4,785,026.24. The trade was a 4.32% decrease in their position. 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 sold a total of 3,562,466 shares of company stock valued at $102,829,815 over the last three months. Insiders own 22.64% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Oscar Health by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 20,701,250 shares of the company’s stock valued at $297,477,000 after purchasing an additional 540,851 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Oscar Health by 11.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 9,217,816 shares of the company’s stock valued at $132,461,000 after buying an additional 910,320 shares during the period. Morgan Stanley increased its position in Oscar Health by 42.8% in 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. Thrive Capital Management LLC raised its stake in Oscar Health by 33.4% during 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, BIT Capital GmbH boosted 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 acquiring an additional 5,227,152 shares in the last quarter. 75.70% of the stock is owned by institutional investors.

Oscar Health Trading Up 7.3%

The company has a debt-to-equity ratio of 0.26, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a fifty day simple moving average of $29.49 and a 200-day simple moving average of $20.77. The firm has a market cap of $9.96 billion, a P/E ratio of 23.54, a price-to-earnings-growth ratio of 0.61 and a beta of 2.36.

Oscar Health (NYSE:OSCR) last issued its earnings results on Thursday, August 6th. The company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.70. Oscar Health had a return on equity of 44.96% and a net margin of 3.60%.The company had revenue of $4.88 billion for the quarter, compared to analyst estimates of $4.73 billion. During the same period in the prior year, the firm earned ($0.89) earnings per share. Oscar Health’s revenue for the quarter was up 70.4% on a year-over-year basis. On average, equities research analysts expect that Oscar Health, Inc. will post 1.54 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.