Oscar Health (NYSE:OSCR) Shares Up 3.6% After Analyst Upgrade

Oscar Health, Inc. (NYSE:OSCR - Get Free Report)'s stock price was up 3.6% during mid-day trading on Tuesday after Bank of America raised their price target on the stock from $22.00 to $25.00. Bank of America currently has a buy rating on the stock. Oscar Health traded as high as $23.01 and last traded at $22.79. Approximately 1,193,477 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 3,279,365 shares. The stock had previously closed at $22.00.

OSCR has been the subject of a number of other reports. Wells Fargo & Company raised their target price on Oscar Health from $20.00 to $24.00 and gave the stock an "overweight" rating in a research report on Thursday, May 9th. The Goldman Sachs Group raised their target price on Oscar Health from $16.00 to $21.00 and gave the stock a "neutral" rating in a research report on Thursday, May 9th. TheStreet raised Oscar Health from a "d" rating to a "c-" rating in a research report on Wednesday, February 21st. Finally, Raymond James began coverage on Oscar Health in a report on Friday, March 22nd. They issued an "outperform" rating and a $20.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Oscar Health presently has an average rating of "Moderate Buy" and a consensus price target of $17.67.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its holdings in shares of Oscar Health by 19.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,125,355 shares of the company's stock worth $6,268,000 after acquiring an additional 182,206 shares during the period. Graham Capital Management L.P. bought a new stake in shares of Oscar Health in the 3rd quarter worth approximately $894,000. Versor Investments LP bought a new stake in shares of Oscar Health in the 3rd quarter worth approximately $553,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Oscar Health by 270.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 265,031 shares of the company's stock worth $2,425,000 after purchasing an additional 193,512 shares in the last quarter. Finally, Dark Forest Capital Management LP bought a new position in Oscar Health in the 3rd quarter valued at approximately $581,000. Hedge funds and other institutional investors own 75.70% of the company's stock.

Oscar Health Price Performance

The firm has a market capitalization of $5.52 billion, a P/E ratio of -55.00 and a beta of 1.66. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a 50-day moving average of $16.65 and a 200-day moving average of $13.04.

Oscar Health (NYSE:OSCR - Get Free Report) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.34. The business had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $1.99 billion. Oscar Health had a negative return on equity of 5.77% and a negative net margin of 0.82%. The firm's quarterly revenue was up 45.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.18) EPS. As a group, analysts predict that Oscar Health, Inc. will post -0.04 EPS for the current year.

Oscar Health Company Profile

Oscar Health, Inc operates as a health insurance in the United States. The company offers health plans in individual and small group markets, as well as +Oscar, a technology driven platform that help providers and payors directly enable their shift to value-based care. It also provides reinsurance products.